{"id":11254,"date":"2010-06-17T23:07:51","date_gmt":"2010-06-18T03:07:51","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=11254"},"modified":"2010-06-17T23:07:51","modified_gmt":"2010-06-18T03:07:51","slug":"june-17-2010","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=11254","title":{"rendered":"June 17, 2010"},"content":{"rendered":"<p>Another very good day for the Canadian preferred share market on moderate volume as PerpetualDiscounts gained 30bp and FixedResets lost 14bp.<\/p>\n<p>There were new issue announcements from <a href=\"http:\/\/www.prefblog.com\/?p=11251\">PWF<\/a> and <a href=\"http:\/\/www.prefblog.com\/?p=11246\">TRP<\/a> while the announcement that <a href=\"http:\/\/www.prefblog.com\/?p=11248\">PWF.PR.D will be redeemed<\/a> turns that issue into a very attractive money market alternative.<\/p>\n<table border='1'>\n<tr>\n<td colspan='8'><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>2.71 %<\/td>\n<td>2.77 %<\/td>\n<td>35,135<\/td>\n<td>20.55<\/td>\n<td>1<\/td>\n<td>0.0000 %<\/td>\n<td>2,092.7<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>5.20 %<\/td>\n<td>3.33 %<\/td>\n<td>24,056<\/td>\n<td>19.82<\/td>\n<td>1<\/td>\n<td>-0.4284 %<\/td>\n<td>3,079.0<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>2.41 %<\/td>\n<td>2.78 %<\/td>\n<td>78,704<\/td>\n<td>20.29<\/td>\n<td>3<\/td>\n<td>-0.3118 %<\/td>\n<td>2,246.8<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>4.87 %<\/td>\n<td>3.48 %<\/td>\n<td>93,013<\/td>\n<td>0.92<\/td>\n<td>11<\/td>\n<td>0.1415 %<\/td>\n<td>2,329.1<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>6.30 %<\/td>\n<td>4.64 %<\/td>\n<td>97,078<\/td>\n<td>0.08<\/td>\n<td>2<\/td>\n<td>-0.0217 %<\/td>\n<td>2,202.2<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.1415 %<\/td>\n<td>2,129.7<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.2952 %<\/td>\n<td>1,903.4<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.95 %<\/td>\n<td>6.03 %<\/td>\n<td>202,794<\/td>\n<td>13.84<\/td>\n<td>77<\/td>\n<td>0.2952 %<\/td>\n<td>1,801.7<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>5.40 %<\/td>\n<td>3.90 %<\/td>\n<td>362,738<\/td>\n<td>3.48<\/td>\n<td>45<\/td>\n<td>-0.1384 %<\/td>\n<td>2,188.2<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.M<\/td>\n<td>FixedReset<\/td>\n<td>-1.10 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-03-02<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 27.00<br \/>\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.07 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 24.18<br \/>\nEvaluated at bid price : 24.45<br \/>\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.L<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.10 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 21.08<br \/>\nEvaluated at bid price : 21.08<br \/>\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n<tr>\n<td>POW.PR.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.11 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 20.95<br \/>\nEvaluated at bid price : 20.95<br \/>\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n<tr>\n<td>W.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.70 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 22.29<br \/>\nEvaluated at bid price : 22.71<br \/>\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n<tr>\n<td>ELF.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.78 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 20.00<br \/>\nEvaluated at bid price : 20.00<br \/>\nBid-YTW : 6.77 %<\/td>\n<\/tr>\n<tr>\n<td>W.PR.J<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.40 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 22.80<br \/>\nEvaluated at bid price : 23.08<br \/>\nBid-YTW : 6.17 %<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.D<\/td>\n<td>OpRet<\/td>\n<td>189,360<\/td>\n<td><a href=\"http:\/\/www.prefblog.com\/?p=11248\">Called for redemption<\/a>.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2010-11-30<br \/>\nMaturity Price  : 25.40<br \/>\nEvaluated at bid price : 25.80<br \/>\nBid-YTW : 3.11 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.R<\/td>\n<td>Perpetual-Discount<\/td>\n<td>72,012<\/td>\n<td>RBC crossed 35,400 at 23.75.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 24.00<br \/>\nEvaluated at bid price : 24.21<br \/>\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.C<\/td>\n<td>Perpetual-Discount<\/td>\n<td>51,250<\/td>\n<td>Desjardins crossed 50,000 at 18.85.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 18.77<br \/>\nEvaluated at bid price : 18.77<br \/>\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>50,565<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2015-01-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.37<br \/>\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.B<\/td>\n<td>FixedReset<\/td>\n<td>44,750<\/td>\n<td>Nesbitt crossed 20,000 at 24.60.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 24.46<br \/>\nEvaluated at bid price : 24.51<br \/>\nBid-YTW : 4.11 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.J<\/td>\n<td>Perpetual-Discount<\/td>\n<td>42,499<\/td>\n<td>TD crossed 24,000 at 19.17.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-06-17<br \/>\nMaturity Price  : 19.10<br \/>\nEvaluated at bid price : 19.10<br \/>\nBid-YTW : 5.99 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 26 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Another very good day for the Canadian preferred share market on moderate volume as PerpetualDiscounts gained 30bp and FixedResets lost 14bp. There were new issue announcements from PWF and TRP while the announcement that PWF.PR.D &hellip;<\/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-11254","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/11254","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=11254"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/11254\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}