Accrued Interest has posted a good piece about CDS clearing and exposures; I have added the link to my discussion of his prior post on the issue. OSFI has, essentially, banned “Global Market Disruption” lines …
Search Results for: conversion
Retractions
On an old thread regarding RY.PR.K, Assiduous Reader Kaitas21 asked: Hi Hymas, I wonder if you could shed some light on the RY.PR.K or even the recent Brookfield Asset Management 5.00% Cumulative, Convertible Class A …
June 17, 2008
Again, busy! I did come up with another rationale for the current … drop, shall we say? … and have updated the Negative Convexity? Negative Schmonvexity! post. Today was a horrible, horrible day for preferreds, …
FAL.PR.B : Correction to PrefInfo
It has been brought to my attention that the redemption provisions for FAL.PR.B as listed on PrefInfo are incorrect. The following description is provided in the Falconbridge Annual Report for 2004, available on SEDAR, filing …
CU Inc. Issues Long Term Debs
CU Inc. has an issue trading on the Toronto Stock Exchange, CIU.PR.A, now bid at 20.50 for a pre-tax bid-YTW of 5.64% based on a limitMaturity; this is an interest-equivalent of 7.90% at a conversion …
Leverage, Bear Stearns & Econbrowser
The usually reliable Prof. James Hamilton of Econbrowser disappointed me today with a rather alarmist post on leverage and Bear Stearns: And the core reason we are in the mess we are today is that …
April 8, 2008
Naked Capitalism points out that banks’ balance sheets tend to bloat in times of economic stress (this has been true for a long time – see Banks’ Advantage in Hedging Liquidity Risk) but manages to …
HIMIPref™ Index Rebalancing : March 2008
HIMI Index Changes, March 31, 2008 Issue From To Because CM.PR.D PerpetualPremium PerpetualDiscount Price ENB.PR.A PerpetualPremium PerpetualDiscount Price PWF.PR.E PerpetualPremium PerpetualDiscount Price PWF.PR.H PerpetualPremium PerpetualDiscount Price NA.PR.K PerpetualPremium PerpetualDiscount Price BNS.PR.O PerpetualPremium PerpetualDiscount Price POW.PR.C …
Moody's to Assign Global Ratings to Municipals
Via Naked Capitalism and MarketWatch comes Moody’s Senior Managing Director for Global Public, Project and Infrastructure Finance Group Laura Levenstein’s testimony to the House Financial Services Committee: we have recently decided to assign global ratings …
NTL.PR.F / NTL.PR.G : What's with the differential?
I don’t normally talk about junk paper in this blog, but Prefblog’s Prettiest Assiduous Reader writes in and points out that there’s some really strange behaviour going on. NTL.PR.F closed today at 11.40-59, 10×7 NTL.PR.G …