{"id":14849,"date":"2011-04-25T22:25:36","date_gmt":"2011-04-26T02:25:36","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14849"},"modified":"2011-04-25T22:25:36","modified_gmt":"2011-04-26T02:25:36","slug":"april-25-2011","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14849","title":{"rendered":"April 25, 2011"},"content":{"rendered":"<p>Nothing happened today.<\/p>\n<p>It was an uneventful day on the Canadian preferred share market, with PerpetualDiscounts gaining 4bp, FixedResets off 4bp and DeemedRetractibles up 3bp. There wasn&#8217;t a single entry for the Performance Highlights table; volume was average.<\/p>\n<table border='1'>\n<tr>\n<td colspan='8'><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.0000 %<\/td>\n<td>2,414.1<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.0000 %<\/td>\n<td>3,630.8<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>2.50 %<\/td>\n<td>2.26 %<\/td>\n<td>35,626<\/td>\n<td>21.63<\/td>\n<td>4<\/td>\n<td>0.0000 %<\/td>\n<td>2,606.6<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>4.92 %<\/td>\n<td>3.26 %<\/td>\n<td>59,484<\/td>\n<td>2.06<\/td>\n<td>8<\/td>\n<td>-0.0289 %<\/td>\n<td>2,411.3<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>5.20 %<\/td>\n<td>-0.83 %<\/td>\n<td>87,837<\/td>\n<td>0.63<\/td>\n<td>6<\/td>\n<td>-0.1354 %<\/td>\n<td>2,494.7<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.0289 %<\/td>\n<td>2,204.9<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.79 %<\/td>\n<td>5.70 %<\/td>\n<td>117,605<\/td>\n<td>6.12<\/td>\n<td>8<\/td>\n<td>0.0348 %<\/td>\n<td>2,050.5<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.58 %<\/td>\n<td>5.57 %<\/td>\n<td>134,153<\/td>\n<td>14.38<\/td>\n<td>16<\/td>\n<td>0.0360 %<\/td>\n<td>2,121.4<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>5.17 %<\/td>\n<td>3.51 %<\/td>\n<td>204,044<\/td>\n<td>2.91<\/td>\n<td>57<\/td>\n<td>-0.0392 %<\/td>\n<td>2,292.6<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>5.29 %<\/td>\n<td>5.25 %<\/td>\n<td>298,021<\/td>\n<td>8.12<\/td>\n<td>53<\/td>\n<td>0.0276 %<\/td>\n<td>2,074.1<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>No individual gains or losses exceeding 1%!<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.D<\/td>\n<td>FixedReset<\/td>\n<td>99,684<\/td>\n<td>TD crossed 90,000 at 27.49.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-07-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 27.42<br \/>\nBid-YTW : 3.68 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>86,938<\/td>\n<td>TD crossed 76,000 at 20.82.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 20.81<br \/>\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.H<\/td>\n<td>Deemed-Retractible<\/td>\n<td>75,595<\/td>\n<td>Nesbitt crossed 70,000 at 22.34.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.20<br \/>\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>66,709<\/td>\n<td>RBC crossed 23,700 at 25.00.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2041-04-25<br \/>\nMaturity Price  : 23.02<br \/>\nEvaluated at bid price : 24.76<br \/>\nBid-YTW : 4.43 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.O<\/td>\n<td>Deemed-Retractible<\/td>\n<td>56,325<\/td>\n<td>Nesbitt crossed 43,000 at 24.72.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.60<br \/>\nBid-YTW : 5.07 %<\/td>\n<\/tr>\n<tr>\n<td>TRI.PR.B<\/td>\n<td>Floater<\/td>\n<td>51,320<\/td>\n<td>RBC crossed 50,000 at 23.05.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2041-04-25<br \/>\nMaturity Price  : 22.77<br \/>\nEvaluated at bid price : 23.05<br \/>\nBid-YTW : 2.26 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 29 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='3'><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 26.50 &#8211; 26.85<br \/>\nSpot Rate  :  0.3500<br \/>\nAverage  :  0.2289<\/p>\n<p><a href=\"http:\/\/www.prefblog.com\/?p=14735\">Offer expires tomorrow<\/a>.<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2013-09-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.50<br \/>\nBid-YTW : 2.58 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.M<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 25.01 &#8211; 25.64<br \/>\nSpot Rate  :  0.6300<br \/>\nAverage  :  0.5119<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.01<br \/>\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 26.38 &#8211; 26.99<br \/>\nSpot Rate  :  0.6100<br \/>\nAverage  :  0.4938<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2013-10-01<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.38<br \/>\nBid-YTW : 3.17 %<\/td>\n<\/tr>\n<tr>\n<td>HSB.PR.E<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 27.12 &#8211; 27.50<br \/>\nSpot Rate  :  0.3800<br \/>\nAverage  :  0.2671<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-07-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 27.12<br \/>\nBid-YTW : 4.04 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.M<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 26.10 &#8211; 26.45<br \/>\nSpot Rate  :  0.3500<br \/>\nAverage  :  0.2450<\/p>\n<p><a href=\"http:\/\/www.prefblog.com\/?p=14735\">Offer expires tomorrow<\/a>.<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2017-06-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.10<br \/>\nBid-YTW : 5.13 %<\/td>\n<\/tr>\n<tr>\n<td>POW.PR.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 24.33 &#8211; 24.63<br \/>\nSpot Rate  :  0.3000<br \/>\nAverage  :  0.1994<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2041-04-25<br \/>\nMaturity Price  : 24.07<br \/>\nEvaluated at bid price : 24.33<br \/>\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Nothing happened today. It was an uneventful day on the Canadian preferred share market, with PerpetualDiscounts gaining 4bp, FixedResets off 4bp and DeemedRetractibles up 3bp. There wasn&#8217;t a single entry for the Performance Highlights table; &hellip;<\/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-14849","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14849","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=14849"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14849\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}