{"id":14236,"date":"2011-02-28T23:07:33","date_gmt":"2011-03-01T03:07:33","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14236"},"modified":"2011-02-28T23:07:33","modified_gmt":"2011-03-01T03:07:33","slug":"february-28-2011","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14236","title":{"rendered":"February 28, 2011"},"content":{"rendered":"

No commentary today! Too much going on!<\/p>\n

A mixed day for the Canadian preferred share market, with PerpetualDiscounts gaining 6bp, FixedResets up 15bp and DeemedRetractibes taking a 15bp loss. Volume was very heavy.<\/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>\n-0.1073 %<\/td>\n2,388.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.74 %<\/td>\n3.46 %<\/td>\n15,165<\/td>\n19.08<\/td>\n1<\/td>\n0.0000 %<\/td>\n3,592.3<\/td>\n<\/tr>\n
Floater<\/td>\n2.51 %<\/td>\n2.27 %<\/td>\n48,078<\/td>\n21.55<\/td>\n4<\/td>\n-0.1073 %<\/td>\n2,578.9<\/td>\n<\/tr>\n
OpRet<\/td>\n4.83 %<\/td>\n3.94 %<\/td>\n84,886<\/td>\n2.18<\/td>\n8<\/td>\n-0.1400 %<\/td>\n2,388.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.14 %<\/td>\n3.81 %<\/td>\n242,316<\/td>\n1.05<\/td>\n5<\/td>\n-0.9717 %<\/td>\n2,462.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1400 %<\/td>\n2,184.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.75 %<\/td>\n5.54 %<\/td>\n123,016<\/td>\n1.28<\/td>\n9<\/td>\n-0.1014 %<\/td>\n2,032.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.54 %<\/td>\n5.62 %<\/td>\n130,659<\/td>\n14.40<\/td>\n15<\/td>\n0.0622 %<\/td>\n2,113.2<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.21 %<\/td>\n3.55 %<\/td>\n197,166<\/td>\n3.00<\/td>\n54<\/td>\n0.1478 %<\/td>\n2,277.4<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.22 %<\/td>\n5.22 %<\/td>\n386,079<\/td>\n8.24<\/td>\n53<\/td>\n-0.1473 %<\/td>\n2,081.4<\/td>\n<\/tr>\n<\/table>\n\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
BNA.PR.E<\/td>\nSplitShare<\/td>\n-4.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2017-12-10
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.61
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n-1.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-02-28
\nMaturity Price : 24.52
\nEvaluated at bid price : 24.57
\nBid-YTW : 3.99 %<\/td>\n<\/tr>\n
IAG.PR.E<\/td>\nDeemed-Retractible<\/td>\n-1.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.41
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.95
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\n-1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.95
\nBid-YTW : 5.97 %<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.45
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n
SLF.PR.F<\/td>\nFixedReset<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.90
\nBid-YTW : 3.51 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.25
\nBid-YTW : 4.01 %<\/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
ALB.PR.B<\/td>\nSplitShare<\/td>\n122,044<\/td>\nNew issue settled today<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-03-29
\nMaturity Price : 21.80
\nEvaluated at bid price : 21.90
\nBid-YTW : 3.81 %<\/td>\n<\/tr>\n
TCA.PR.X<\/td>\nPerpetual-Premium<\/td>\n112,018<\/td>\nRBC crossed 100,000 at 50.29.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-02-28
\nMaturity Price : 46.93
\nEvaluated at bid price : 50.20
\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n
NA.PR.P<\/td>\nFixedReset<\/td>\n81,767<\/td>\nIssuer bid<\/a>
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.30
\nBid-YTW : 2.26 %<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nDeemed-Retractible<\/td>\n55,944<\/td>\nTD crossed 22,400 at 24.42.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.40
\nBid-YTW : 5.17 %<\/td>\n<\/tr>\n
BMO.PR.N<\/td>\nFixedReset<\/td>\n52,175<\/td>\nTD bought 20,000 from Nesbitt at 27.30, then crossed 25,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.31
\nBid-YTW : 3.35 %<\/td>\n<\/tr>\n
BMO.PR.P<\/td>\nFixedReset<\/td>\n52,066<\/td>\nDesjardins bought 10,000 from Nesbit at 26.67.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-03-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.68
\nBid-YTW : 3.63 %<\/td>\n<\/tr>\n
There were 60 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
BNA.PR.E<\/td>\nSplitShare<\/td>\nQuote: 23.61 – 24.50
\nSpot Rate : 0.8900
\nAverage : 0.5879<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2017-12-10
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.61
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n

SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.95 – 23.37
\nSpot Rate : 0.4200
\nAverage : 0.2576<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.95
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n

BAM.PR.I<\/td>\nOpRet<\/td>\nQuote: 25.50 – 25.95
\nSpot Rate : 0.4500
\nAverage : 0.3070<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 4.71 %<\/td>\n<\/tr>\n

IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.45 – 22.83
\nSpot Rate : 0.3800
\nAverage : 0.2713<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.45
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n

TD.PR.M<\/td>\nOpRet<\/td>\nQuote: 25.61 – 25.89
\nSpot Rate : 0.2800
\nAverage : 0.1792<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-05-30
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.61
\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n

BAM.PR.P<\/td>\nFixedReset<\/td>\nQuote: 27.51 – 27.84
\nSpot Rate : 0.3300
\nAverage : 0.2451<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-10-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.51
\nBid-YTW : 4.39 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

No commentary today! Too much going on! A mixed day for the Canadian preferred share market, with PerpetualDiscounts gaining 6bp, FixedResets up 15bp and DeemedRetractibes taking a 15bp loss. Volume was very heavy. HIMIPref™ Preferred …<\/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-14236","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14236","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=14236"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14236\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}