{"id":14151,"date":"2011-02-18T21:03:09","date_gmt":"2011-02-19T01:03:09","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14151"},"modified":"2011-02-18T21:03:09","modified_gmt":"2011-02-19T01:03:09","slug":"february-18-2011","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14151","title":{"rendered":"February 18, 2011"},"content":{"rendered":"

No commentary today because … er … because … um … because it’s a full moon! That’s it, full moon tonight, therefore no commentary.<\/p>\n

A good day on the Canadian preferred share market, with PerpetualDiscounts up 13bp, FixedResets down 1bp, and DeemedRetractibles gaining 4bp. Volatility continued to be very low, with only one entry in the Performance Highlights table; volume subsided to average levels.<\/p>\n\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>\n0.0476 %<\/td>\n2,398.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.75 %<\/td>\n3.47 %<\/td>\n16,920<\/td>\n19.10<\/td>\n1<\/td>\n-0.4348 %<\/td>\n3,584.4<\/td>\n<\/tr>\n
Floater<\/td>\n2.50 %<\/td>\n2.26 %<\/td>\n49,519<\/td>\n21.58<\/td>\n4<\/td>\n0.0476 %<\/td>\n2,589.7<\/td>\n<\/tr>\n
OpRet<\/td>\n4.83 %<\/td>\n3.71 %<\/td>\n62,447<\/td>\n2.21<\/td>\n8<\/td>\n-0.0404 %<\/td>\n2,388.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.35 %<\/td>\n0.78 %<\/td>\n261,573<\/td>\n0.81<\/td>\n4<\/td>\n0.0606 %<\/td>\n2,468.8<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0404 %<\/td>\n2,184.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.74 %<\/td>\n5.48 %<\/td>\n124,486<\/td>\n1.07<\/td>\n9<\/td>\n0.0507 %<\/td>\n2,035.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.54 %<\/td>\n5.61 %<\/td>\n130,461<\/td>\n14.42<\/td>\n15<\/td>\n0.1331 %<\/td>\n2,110.6<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.25 %<\/td>\n3.77 %<\/td>\n183,931<\/td>\n3.03<\/td>\n54<\/td>\n-0.0054 %<\/td>\n2,260.7<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.20 %<\/td>\n5.23 %<\/td>\n392,981<\/td>\n8.26<\/td>\n53<\/td>\n0.0397 %<\/td>\n2,085.5<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.16
\nBid-YTW : 4.60 %<\/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
BNS.PR.L<\/td>\nDeemed-Retractible<\/td>\n42,490<\/td>\nTD crossed 35,000 at 24.01.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.99
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n
RY.PR.B<\/td>\nDeemed-Retractible<\/td>\n38,973<\/td>\nTD crossed 25,000 at 24.20.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.25
\nBid-YTW : 5.08 %<\/td>\n<\/tr>\n
HSB.PR.D<\/td>\nDeemed-Retractible<\/td>\n24,700<\/td>\nDesjardins crossed 17,000 at 24.05.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.05
\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n22,755<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.13
\nBid-YTW : 4.03 %<\/td>\n<\/tr>\n
GWO.PR.L<\/td>\nDeemed-Retractible<\/td>\n20,450<\/td>\nRBC crossed 12,000 at 25.07.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.07
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
RY.PR.A<\/td>\nDeemed-Retractible<\/td>\n20,399<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.82
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n
There were 35 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\nQuote: 23.24 – 23.89
\nSpot Rate : 0.6500
\nAverage : 0.4791<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-02-18
\nMaturity Price : 22.97
\nEvaluated at bid price : 23.24
\nBid-YTW : 2.24 %<\/td>\n<\/tr>\n

FTS.PR.H<\/td>\nFixedReset<\/td>\nQuote: 25.50 – 25.95
\nSpot Rate : 0.4500
\nAverage : 0.3315<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-07-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 3.73 %<\/td>\n<\/tr>\n

GWO.PR.F<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.40 – 25.74
\nSpot Rate : 0.3400
\nAverage : 0.2389<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-10-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.40
\nBid-YTW : 5.43 %<\/td>\n<\/tr>\n

BAM.PR.I<\/td>\nOpRet<\/td>\nQuote: 25.31 – 25.70
\nSpot Rate : 0.3900
\nAverage : 0.3014<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.31
\nBid-YTW : 5.17 %<\/td>\n<\/tr>\n

PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.31 – 23.54
\nSpot Rate : 0.2300
\nAverage : 0.1655<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-02-18
\nMaturity Price : 23.10
\nEvaluated at bid price : 23.31
\nBid-YTW : 5.51 %<\/td>\n<\/tr>\n

GWO.PR.M<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.25 – 25.45
\nSpot Rate : 0.2000
\nAverage : 0.1360<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.25
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

No commentary today because … er … because … um … because it’s a full moon! That’s it, full moon tonight, therefore no commentary. A good day on the Canadian preferred share market, with PerpetualDiscounts …<\/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-14151","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14151","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=14151"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14151\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}