{"id":10423,"date":"2010-04-09T19:31:18","date_gmt":"2010-04-09T23:31:18","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=10423"},"modified":"2010-04-09T19:31:18","modified_gmt":"2010-04-09T23:31:18","slug":"april-9-2010","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=10423","title":{"rendered":"April 9, 2010"},"content":{"rendered":"

More news from the discount aisles of Greece<\/a>, where burning Sappho lunched and swum:<\/p>\n

European Union officials said they are ready to rescue Greece if needed as Fitch Ratings cut the country\u2019s credit rating to the lowest investment grade and economists at UBS AG said that a bailout may be imminent.<\/p>\n

Germany restated its opposition to below-market rate loans to Greece as officials in Brussels hammered out details to the framework calling for joint EU-International Monetary Fund aid.
…<\/b>
The premium investors demand to buy Greek 10-year bonds instead of German bunds jumped to 442 basis points yesterday, the highest since the introduction of the euro. Prime Minister George Papandreou has said borrowing at those levels is unsustainable. Greece will need to seek emergency funding now to make debt repayments of more than 20 billion euros ($27 billion) in the next two months, UBS economists said in a note. <\/p><\/blockquote>\n

Yesterday I mentioned how Ontario is limiting pharmacists’ access to the trough; it appears that this action has been taken because they’ve been elbowed away by much sexier sucklings<\/a>:<\/p>\n

Residential customers in Ontario will pay $300 more a year on average for electricity by the end of 2011, an increase of 25 per cent, according to energy consultants. And the rate increases won\u2019t end there. Investments of more than $8-billion in green energy projects unveiled by the Ontario government Thursday will add another $60 a year to hydro bills by 2012.
…<\/b>
The Ontario Power Authority announced Thursday that it has approved 185 wind, solar and biomass projects capable of generating 2,500 megawatts of electricity, enough to power 600,000 homes.
…<\/b>
Electricity consumers will pay another $5 a month by 2012, when the projects are up and running.<\/p><\/blockquote>\n

Let that be a lesson to everybody! University is useless! Go to charm school!<\/p>\n

It was another counter-trend day for the Canadian preferred share market, as PerpetualDiscounts gained 74bp and FixedResets were down 11bp on continued heavy volume. To drive the point home, the volume highlights table was dominated by PerpetualDiscounts.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n2.58 %<\/td>\n2.64 %<\/td>\n54,789<\/td>\n20.93<\/td>\n1<\/td>\n2.0028 %<\/td>\n2,147.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.89 %<\/td>\n3.01 %<\/td>\n46,376<\/td>\n20.14<\/td>\n1<\/td>\n0.0000 %<\/td>\n3,234.8<\/td>\n<\/tr>\n
Floater<\/td>\n1.91 %<\/td>\n1.66 %<\/td>\n44,023<\/td>\n23.43<\/td>\n4<\/td>\n-0.0121 %<\/td>\n2,418.8<\/td>\n<\/tr>\n
OpRet<\/td>\n4.88 %<\/td>\n3.59 %<\/td>\n106,755<\/td>\n1.11<\/td>\n10<\/td>\n-0.0078 %<\/td>\n2,314.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n6.35 %<\/td>\n-2.64 %<\/td>\n135,302<\/td>\n0.08<\/td>\n2<\/td>\n0.0658 %<\/td>\n2,147.9<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0078 %<\/td>\n2,116.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.88 %<\/td>\n4.76 %<\/td>\n34,748<\/td>\n15.89<\/td>\n2<\/td>\n-0.3046 %<\/td>\n1,833.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.18 %<\/td>\n6.23 %<\/td>\n195,430<\/td>\n13.60<\/td>\n76<\/td>\n0.7383 %<\/td>\n1,722.0<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.46 %<\/td>\n3.86 %<\/td>\n433,852<\/td>\n3.67<\/td>\n43<\/td>\n-0.1098 %<\/td>\n2,174.4<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
MFC.PR.D<\/td>\nFixedReset<\/td>\n-1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.45
\nBid-YTW : 4.24 %<\/td>\n<\/tr>\n
BNS.PR.Q<\/td>\nFixedReset<\/td>\n-1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-11-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.52
\nBid-YTW : 4.29 %<\/td>\n<\/tr>\n
TD.PR.R<\/td>\nPerpetual-Discount<\/td>\n1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 22.97
\nEvaluated at bid price : 23.13
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 21.86
\nEvaluated at bid price : 22.10
\nBid-YTW : 6.36 %<\/td>\n<\/tr>\n
RY.PR.B<\/td>\nPerpetual-Discount<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.80
\nEvaluated at bid price : 19.80
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
IAG.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 23.86
\nEvaluated at bid price : 24.05
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n
BNS.PR.J<\/td>\nPerpetual-Discount<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 21.83
\nEvaluated at bid price : 21.83
\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 18.88
\nEvaluated at bid price : 18.88
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 20.57
\nEvaluated at bid price : 20.57
\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n
TD.PR.P<\/td>\nPerpetual-Discount<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 21.71
\nEvaluated at bid price : 21.80
\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 21.55
\nEvaluated at bid price : 21.55
\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n
RY.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n
NA.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 23.30
\nEvaluated at bid price : 23.60
\nBid-YTW : 6.18 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
PWF.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 22.94
\nEvaluated at bid price : 23.20
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 22.54
\nEvaluated at bid price : 22.81
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 17.99
\nEvaluated at bid price : 17.99
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 18.92
\nEvaluated at bid price : 18.92
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
NA.PR.L<\/td>\nPerpetual-Discount<\/td>\n1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 6.19 %<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetual-Discount<\/td>\n1.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.09
\nEvaluated at bid price : 19.09
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetual-Discount<\/td>\n1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.75
\nEvaluated at bid price : 19.75
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
BMO.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 21.95
\nEvaluated at bid price : 22.27
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.70 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.73
\nEvaluated at bid price : 19.73
\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n
BMO.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 21.42
\nEvaluated at bid price : 21.75
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.64
\nEvaluated at bid price : 19.64
\nBid-YTW : 6.23 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetual-Discount<\/td>\n1.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 18.35
\nEvaluated at bid price : 18.35
\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetual-Discount<\/td>\n1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 20.76
\nEvaluated at bid price : 20.76
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n
BAM.PR.E<\/td>\nRatchet<\/td>\n2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 22.50
\nEvaluated at bid price : 21.90
\nBid-YTW : 2.64 %<\/td>\n<\/tr>\n
BNS.PR.N<\/td>\nPerpetual-Discount<\/td>\n2.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 21.33
\nEvaluated at bid price : 21.63
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n91,300<\/td>\nRBC crossed 71,700 at 16.90.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 16.79
\nEvaluated at bid price : 16.79
\nBid-YTW : 7.15 %<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetual-Discount<\/td>\n83,607<\/td>\nRBC crossed 62,500 at 19.25.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.09
\nEvaluated at bid price : 19.09
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
RY.PR.A<\/td>\nPerpetual-Discount<\/td>\n60,689<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 18.76
\nEvaluated at bid price : 18.76
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
RY.PR.B<\/td>\nPerpetual-Discount<\/td>\n40,696<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-04-09
\nMaturity Price : 19.80
\nEvaluated at bid price : 19.80
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
RY.PR.Y<\/td>\nFixedReset<\/td>\n37,040<\/td>\nNesbitt crossed 25,000 at 27.62.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-12-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.62
\nBid-YTW : 3.89 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset<\/td>\n34,721<\/td>\nNesbitt crossed 25,000 at 25.47.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.45
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
There were 59 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

More news from the discount aisles of Greece, where burning Sappho lunched and swum: European Union officials said they are ready to rescue Greece if needed as Fitch Ratings cut the country\u2019s credit rating to …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-10423","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/10423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10423"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/10423\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}