{"id":12426,"date":"2010-10-04T22:07:44","date_gmt":"2010-10-05T02:07:44","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=12426"},"modified":"2010-10-04T22:07:44","modified_gmt":"2010-10-05T02:07:44","slug":"october-4-2010","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=12426","title":{"rendered":"October 4, 2010"},"content":{"rendered":"

Yankee Bonds are surging in popularity<\/a>:<\/p>\n

Foreign borrowers are claiming the biggest share of the U.S. corporate bond market in at least a decade, taking advantage of record investor demand for dollar- denominated debt.<\/p>\n

The overseas issuers, known as Yankee borrowers, account for 43 percent of sales this year, compared with 37 percent in 2009 and an average 23 percent from 1999 to 2009, according to data compiled by Bloomberg. Reliance Industries Ltd, India\u2019s biggest company by market value, plans to sell at least $1 billion of bonds in its first benchmark offering in dollars.
…<\/b>
U.S. bond mutual funds have taken in $181 billion this year through September, compared with $7.3 billion for European bond funds, according to EPFR Global in Cambridge, Massachusetts. In the first nine months of 2009, U.S. fund inflows were $134.8 billion compared with $2.4 billion in Europe.<\/p><\/blockquote>\n

More divergence in the Canadian preferred share market today, as PerpetualDiscounts gained 14bp while FixedResets were basically flat, with continued heavy volume.<\/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>\n0.4046 %<\/td>\n2,167.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4046 %<\/td>\n3,283.5<\/td>\n<\/tr>\n
Floater<\/td>\n2.88 %<\/td>\n3.20 %<\/td>\n76,398<\/td>\n19.25<\/td>\n3<\/td>\n0.4046 %<\/td>\n2,340.3<\/td>\n<\/tr>\n
OpRet<\/td>\n4.91 %<\/td>\n3.32 %<\/td>\n75,453<\/td>\n0.15<\/td>\n9<\/td>\n-0.1763 %<\/td>\n2,364.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.95 %<\/td>\n-30.61 %<\/td>\n67,830<\/td>\n0.09<\/td>\n2<\/td>\n-0.1842 %<\/td>\n2,367.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1763 %<\/td>\n2,162.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.71 %<\/td>\n5.26 %<\/td>\n123,289<\/td>\n5.48<\/td>\n19<\/td>\n0.0599 %<\/td>\n1,998.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.48 %<\/td>\n5.52 %<\/td>\n217,454<\/td>\n14.63<\/td>\n58<\/td>\n0.1419 %<\/td>\n1,986.3<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.28 %<\/td>\n3.24 %<\/td>\n318,483<\/td>\n3.29<\/td>\n47<\/td>\n-0.0055 %<\/td>\n2,258.4<\/td>\n<\/tr>\n<\/table>\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
ENB.PR.A<\/td>\nPerpetual-Premium<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-10-04
\nMaturity Price : 24.82
\nEvaluated at bid price : 25.04
\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n
IAG.PR.C<\/td>\nFixedReset<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.01
\nBid-YTW : 3.66 %<\/td>\n<\/tr>\n
HSB.PR.C<\/td>\nPerpetual-Discount<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-10-04
\nMaturity Price : 23.55
\nEvaluated at bid price : 23.80
\nBid-YTW : 5.38 %<\/td>\n<\/tr>\n
PWF.PR.I<\/td>\nPerpetual-Premium<\/td>\n1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2010-11-03
\nMaturity Price : 25.50
\nEvaluated at bid price : 25.85
\nBid-YTW : 1.76 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.42
\nBid-YTW : 4.27 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-10-04
\nMaturity Price : 16.46
\nEvaluated at bid price : 16.46
\nBid-YTW : 3.20 %<\/td>\n<\/tr>\n
ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\n2.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-10-04
\nMaturity Price : 20.49
\nEvaluated at bid price : 20.49
\nBid-YTW : 5.82 %<\/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
TD.PR.G<\/td>\nFixedReset<\/td>\n143,500<\/td>\nRBC bought two blocks of 11,000 each from anonymous, at 27.95 and 27.96; RBC bought 15,000 from TD at 27.96 and 10,000 from anonymous, both at 27.96; RBC crossed 50,000 at 27.96.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.95
\nBid-YTW : 3.15 %<\/td>\n<\/tr>\n
RY.PR.X<\/td>\nFixedReset<\/td>\n97,085<\/td>\nRBC crossed 38,700 at 28.00 and sold 13,800 to Scotia at the same price. Nesbitt crossed 20,000 at 28.00.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-09-23
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.00
\nBid-YTW : 3.22 %<\/td>\n<\/tr>\n
RY.PR.P<\/td>\nFixedReset<\/td>\n81,643<\/td>\nRBC bought 12,400 from anonymous at 27.59, and crossed 16,000 at the same price. TD crossed 20,000 at the same price again. RBC crossed 11,100 at 27.60.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.60
\nBid-YTW : 3.28 %<\/td>\n<\/tr>\n
TD.PR.E<\/td>\nFixedReset<\/td>\n64,638<\/td>\nTD crossed 15,000 at 27.90 and 30,000 at 27.92.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.88
\nBid-YTW : 3.23 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n59,727<\/td>\nRBC crossed 25,000 at 26.58.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.60
\nBid-YTW : 3.42 %<\/td>\n<\/tr>\n
TD.PR.S<\/td>\nFixedReset<\/td>\n57,030<\/td>\nRBC crossed 45,100 at 26.52.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.46
\nBid-YTW : 3.10 %<\/td>\n<\/tr>\n
There were 51 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Yankee Bonds are surging in popularity: Foreign borrowers are claiming the biggest share of the U.S. corporate bond market in at least a decade, taking advantage of record investor demand for dollar- denominated debt. The …<\/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-12426","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/12426","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=12426"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/12426\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}