{"id":14697,"date":"2011-04-07T22:40:55","date_gmt":"2011-04-08T02:40:55","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14697"},"modified":"2011-04-07T22:40:55","modified_gmt":"2011-04-08T02:40:55","slug":"april-7-2011","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14697","title":{"rendered":"April 7, 2011"},"content":{"rendered":"

Nothing happened today, but it looks as if the US government might take a week off<\/a>:<\/p>\n

President Barack Obama and the top two leaders in Congress failed to reach a budget deal in their third White House meeting in two days, taking the government to the brink of a partial shutdown.<\/p><\/blockquote>\n

It was a poor day for the Canadian preferred share market, with PerpetualDiscounts losing 15bp, FixedResets off 8bp and DeemedRetractibles down 6bp. Volatility remains low, and volume was light.<\/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-0.0594 %<\/td>\n2,410.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0594 %<\/td>\n3,625.1<\/td>\n<\/tr>\n
Floater<\/td>\n2.50 %<\/td>\n2.27 %<\/td>\n41,326<\/td>\n21.57<\/td>\n4<\/td>\n-0.0594 %<\/td>\n2,602.5<\/td>\n<\/tr>\n
OpRet<\/td>\n4.92 %<\/td>\n3.51 %<\/td>\n56,624<\/td>\n2.11<\/td>\n8<\/td>\n-0.1060 %<\/td>\n2,410.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.20 %<\/td>\n-2.94 %<\/td>\n119,777<\/td>\n0.68<\/td>\n6<\/td>\n-0.2224 %<\/td>\n2,495.6<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1060 %<\/td>\n2,204.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.80 %<\/td>\n5.48 %<\/td>\n125,172<\/td>\n1.18<\/td>\n8<\/td>\n-0.2430 %<\/td>\n2,049.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.55 %<\/td>\n5.53 %<\/td>\n133,655<\/td>\n14.44<\/td>\n16<\/td>\n-0.1493 %<\/td>\n2,134.2<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.16 %<\/td>\n3.39 %<\/td>\n205,467<\/td>\n2.96<\/td>\n57<\/td>\n-0.0835 %<\/td>\n2,292.4<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.23 %<\/td>\n5.11 %<\/td>\n335,856<\/td>\n8.20<\/td>\n53<\/td>\n-0.0554 %<\/td>\n2,093.2<\/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
GWO.PR.I<\/td>\nDeemed-Retractible<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.75
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
IGM.PR.B<\/td>\nPerpetual-Premium<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.13
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
BNA.PR.C<\/td>\nSplitShare<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2019-01-10
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.00
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
TD.PR.P<\/td>\nDeemed-Retractible<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.25
\nBid-YTW : 5.01 %<\/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
CM.PR.E<\/td>\nDeemed-Retractible<\/td>\n50,176<\/td>\nRBC crossed 35,000 at 25.26.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-11-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.26
\nBid-YTW : 4.74 %<\/td>\n<\/tr>\n
BMO.PR.Q<\/td>\nFixedReset<\/td>\n38,500<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.97
\nBid-YTW : 3.93 %<\/td>\n<\/tr>\n
TD.PR.G<\/td>\nFixedReset<\/td>\n31,528<\/td>\nTD crossed 20,000 at 27.15.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.13
\nBid-YTW : 3.33 %<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nDeemed-Retractible<\/td>\n24,593<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.87
\nBid-YTW : 5.14 %<\/td>\n<\/tr>\n
BMO.PR.P<\/td>\nFixedReset<\/td>\n23,108<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-03-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.88
\nBid-YTW : 3.52 %<\/td>\n<\/tr>\n
TD.PR.O<\/td>\nDeemed-Retractible<\/td>\n23,108<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.51
\nBid-YTW : 5.08 %<\/td>\n<\/tr>\n
There were 25 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
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.19 – 21.58
\nSpot Rate : 0.3900
\nAverage : 0.2578<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-04-07
\nMaturity Price : 21.19
\nEvaluated at bid price : 21.19
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n

BAM.PR.I<\/td>\nOpRet<\/td>\nQuote: 25.19 – 25.67
\nSpot Rate : 0.4800
\nAverage : 0.3758<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.19
\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n

IGM.PR.B<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.13 – 25.42
\nSpot Rate : 0.2900
\nAverage : 0.1860<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.13
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n

RY.PR.W<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.15 – 25.39
\nSpot Rate : 0.2400
\nAverage : 0.1605<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.15
\nBid-YTW : 4.92 %<\/td>\n<\/tr>\n

TRP.PR.A<\/td>\nFixedReset<\/td>\nQuote: 25.80 – 26.00
\nSpot Rate : 0.2000
\nAverage : 0.1218<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.80
\nBid-YTW : 3.73 %<\/td>\n<\/tr>\n

PWF.PR.M<\/td>\nFixedReset<\/td>\nQuote: 26.70 – 26.95
\nSpot Rate : 0.2500
\nAverage : 0.1763<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-02
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.70
\nBid-YTW : 3.40 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today, but it looks as if the US government might take a week off: President Barack Obama and the top two leaders in Congress failed to reach a budget deal in their third …<\/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-14697","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14697","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=14697"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14697\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}