{"id":1306,"date":"2007-10-12T21:42:09","date_gmt":"2007-10-13T01:42:09","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=1306"},"modified":"2007-10-12T21:42:09","modified_gmt":"2007-10-13T01:42:09","slug":"october-12-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=1306","title":{"rendered":"October 12, 2007"},"content":{"rendered":"

There’s no commentary today, I’m afraid! What with PrefLetter production<\/a>, seeing whether the IIF had anything interesting to say<\/a>, admitting that I cannot time the markets<\/a> and so on, I’m just running out of time!<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version. In this version, index values are based at 1,000.0 on 2006-6-30<\/strong><\/td>\n<\/tr>\n
Index<\/td>\nMean Current Yield (at bid)<\/td>\nMean YTW<\/td>\nMean Average Trading Value<\/td>\nMean Mod Dur (YTW)<\/td>\nIssues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n4.71%<\/td>\n4.66%<\/td>\n681,528<\/td>\n15.94<\/td>\n1<\/td>\n0.0000%<\/td>\n1,043.7<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.89%<\/td>\n4.76%<\/td>\n104,131<\/td>\n15.85<\/td>\n7<\/td>\n-0.3002%<\/td>\n1,038.5<\/td>\n<\/tr>\n
Floater<\/td>\n4.51%<\/td>\n4.20%<\/td>\n75,432<\/td>\n10.73<\/td>\n3<\/td>\n-0.0134%<\/td>\n1,041.0<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.86%<\/td>\n3.99%<\/td>\n76,085<\/td>\n3.20<\/td>\n15<\/td>\n+0.0058%<\/td>\n1,028.9<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.15%<\/td>\n4.84%<\/td>\n84,493<\/td>\n4.27<\/td>\n15<\/td>\n-0.0135%<\/td>\n1,045.0<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.29%<\/td>\n6.37%<\/td>\n56,439<\/td>\n3.63<\/td>\n4<\/td>\n-0.0248%<\/td>\n1,051.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.66%<\/td>\n5.45%<\/td>\n95,481<\/td>\n8.25<\/td>\n17<\/td>\n-0.0404%<\/td>\n1,014.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.40%<\/td>\n5.44%<\/td>\n321,718<\/td>\n14.77<\/td>\n47<\/td>\n-0.0440%<\/td>\n931.5<\/td>\n<\/tr>\n<\/table>\n<\/div>\n
\n\n\n\n\n\n\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nPerpetualDiscount<\/td>\n-1.6601%<\/td>\nNow with a pre-tax bid-YTW of 5.34% based on a bid of 22.51 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetualDiscount<\/td>\n-1.6264%<\/td>\nNow with a pre-tax bid-YTW of 5.54% based on a bid of 22.38 and a limitMaturity.<\/td>\n<\/tr>\n
FFN.PR.A<\/td>\nSplitShare<\/td>\n-1.1538%<\/td>\nAsset coverage of 2.5+:1 as of September 28 according to the company<\/a>. Now with a pre-tax bid-YTW of 4.84% based on a bid of 10.48 and a hardMaturity<\/a> 2014-12-01 at 10.28.<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetualDiscount<\/td>\n-1.1384%<\/td>\nNow with a pre-tax bid-YTW of 5.56% based on a bid of 22.58 and a limitMaturity.<\/td>\n<\/tr>\n
BCE.PR.I<\/td>\nFixFloat<\/td>\n-1.0077%<\/td>\n\u00a0<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetualPremium<\/td>\n+1.1327%<\/td>\nNow with a pre-tax bid-YTW of 5.71% based on a bid of 25.00 and a call 2012-1-19 at 25.00.<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nPerpetualDiscount<\/td>\n+1.6471%<\/td>\nNow with a pre-tax bid-YTW of 5.27% based on a bid of 21.60 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n<\/div>\n
\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nVolume<\/td>\nNotes<\/td>\n<\/tr>\n
BNS.PR.N<\/td>\nPerpetualDiscount<\/td>\n584,870<\/td>\nNew issue settled today; it did better than I thought it would, closing at 24.81-82, 20×124. This may be due to the fact that it was the first of the recent bank 5.25% perps to be announced; together with the fact that BNS issues are relatively scarce, a fair amount of the new issue may have found its way into ‘real money’ accounts. Now with a pre-tax bid-YTW of 5.31% based on a bid of 24.81 and a limitMaturity.<\/td>\n<\/tr>\n
BCE.PR.I<\/td>\nFixFloat<\/td>\n71,169<\/td>\nScotia crossed 70,000 at 24.75.<\/td>\n<\/tr>\n
PWF.PR.I<\/td>\nPerpetualPremium<\/td>\n66,316<\/td>\nNow with a pre-tax bid-YTW of 5.51% based on a bid of 25.46 and a call 2012-5-30 at 25.00.<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetualDiscount<\/td>\n38,650<\/td>\nDS crossed 35,000 at 23.62. Now with a pre-tax bid-YTW of 5.40% based on a bid of 23.62 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nPerpetualDiscount<\/td>\n33,900<\/td>\nNesbitt bought 11,500 from DS at 21.35. Now with a pre-tax bid-YTW of 5.29% based on a bid of 21.35 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

There were nine other index-included $25.00-equivalent issues trading over 10,000 shares today.\n<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

There’s no commentary today, I’m afraid! What with PrefLetter production, seeing whether the IIF had anything interesting to say, admitting that I cannot time the markets and so on, I’m just running out of time! …<\/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-1306","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1306","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=1306"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1306\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}