{"id":12252,"date":"2010-09-16T22:28:52","date_gmt":"2010-09-17T02:28:52","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=12252"},"modified":"2010-09-16T22:28:52","modified_gmt":"2010-09-17T02:28:52","slug":"september-16-2010","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=12252","title":{"rendered":"September 16, 2010"},"content":{"rendered":"

Nothing happened today.<\/p>\n

Volume was very good on the Canadian preferred share market, while PerpetualDiscounts were up 9bp and FixedResets gained 10bp – although the vagaries of the index calculations meant that the reported yield for FixedResets crept up 2bp (returns are a mean; YTW is a median). MFC issues were, for a change, missing from both the performance and volume highlights.<\/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>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1660 %<\/td>\n2,093.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1660 %<\/td>\n3,171.8<\/td>\n<\/tr>\n
Floater<\/td>\n2.91 %<\/td>\n3.38 %<\/td>\n65,384<\/td>\n18.80<\/td>\n3<\/td>\n-0.1660 %<\/td>\n2,260.7<\/td>\n<\/tr>\n
OpRet<\/td>\n4.86 %<\/td>\n0.58 %<\/td>\n86,382<\/td>\n0.20<\/td>\n9<\/td>\n0.2910 %<\/td>\n2,383.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.92 %<\/td>\n-29.91 %<\/td>\n61,605<\/td>\n0.09<\/td>\n2<\/td>\n0.4103 %<\/td>\n2,376.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2910 %<\/td>\n2,179.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.71 %<\/td>\n5.40 %<\/td>\n126,968<\/td>\n5.36<\/td>\n14<\/td>\n-0.1148 %<\/td>\n1,983.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.57 %<\/td>\n5.65 %<\/td>\n190,951<\/td>\n14.39<\/td>\n63<\/td>\n0.0862 %<\/td>\n1,954.5<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.24 %<\/td>\n3.06 %<\/td>\n292,068<\/td>\n3.31<\/td>\n47<\/td>\n0.1020 %<\/td>\n2,270.9<\/td>\n<\/tr>\n<\/table>\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
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-09-16
\nMaturity Price : 22.11
\nEvaluated at bid price : 22.25
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
BMO.PR.L<\/td>\nPerpetual-Premium<\/td>\n-1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.70
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetual-Discount<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-09-16
\nMaturity Price : 23.35
\nEvaluated at bid price : 23.60
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n
BAM.PR.I<\/td>\nOpRet<\/td>\n1.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2010-10-16
\nMaturity Price : 25.50
\nEvaluated at bid price : 26.20
\nBid-YTW : -27.95 %<\/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
SLF.PR.C<\/td>\nPerpetual-Discount<\/td>\n168,500<\/td>\nNesbitt crossed blocks of 100,000 and 29,000, both at 19.70. Desjardins crossed 11,800 at 19.59.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-09-16
\nMaturity Price : 19.69
\nEvaluated at bid price : 19.69
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
TD.PR.K<\/td>\nFixedReset<\/td>\n95,085<\/td>\nNesbitt crossed 50,000 at 28.17; TD crossed 10,600 at the same price; Desjardins crossed 13,200 at the same price again.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.16
\nBid-YTW : 3.08 %<\/td>\n<\/tr>\n
RY.PR.Y<\/td>\nFixedReset<\/td>\n87,500<\/td>\nNesbitt crossed 85,000 at 28.12.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-12-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.08
\nBid-YTW : 3.12 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n73,574<\/td>\nNational crossed 10,900 at 27.62. TD crossed 13,600 at 27.55 and RBC crossed 35,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.50
\nBid-YTW : 2.80 %<\/td>\n<\/tr>\n
RY.PR.R<\/td>\nFixedReset<\/td>\n71,650<\/td>\nRBC crossed 48,100 at 27.85; Desjardins crossed 17,500 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.86
\nBid-YTW : 2.97 %<\/td>\n<\/tr>\n
BMO.PR.N<\/td>\nFixedReset<\/td>\n65,550<\/td>\nTD crossed 53,800 at 28.30.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.28
\nBid-YTW : 2.67 %<\/td>\n<\/tr>\n
There were 50 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today. Volume was very good on the Canadian preferred share market, while PerpetualDiscounts were up 9bp and FixedResets gained 10bp – although the vagaries of the index calculations meant that the reported yield …<\/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-12252","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/12252","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=12252"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/12252\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}