{"id":14929,"date":"2011-05-03T22:52:06","date_gmt":"2011-05-04T02:52:06","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14929"},"modified":"2011-05-03T22:52:06","modified_gmt":"2011-05-04T02:52:06","slug":"may-3-2011","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14929","title":{"rendered":"May 3, 2011"},"content":{"rendered":"

The FRB Cleveland has released the April, 2011, edition of Economic Trends<\/a>.<\/p>\n

There will be a conference on The Future of Life-Cycle Saving & Investing<\/a> sponsored by the Boston Fed and others at the end of May.<\/p>\n

The Portuguese bail-out has been agreed<\/a>:<\/p>\n

Portugal reached an agreement with officials preparing its European Union-led bailout that will provide as much as 78 billion euros ($116 billion) in aid and allow more time to reduce the country\u2019s budget deficit.<\/p>\n

The three-year plan set goals for a budget deficit of 5.9 percent of gross domestic product this year, 4.5 percent in 2012 and 3 percent in 2013, Prime Minister Jose Socrates said in Lisbon today. The government in March targeted a deficit of 4.6 percent this year, 3 percent in 2012 and 2 percent in 2013.<\/p><\/blockquote>\n

It was another mixed day in the Canadian preferred share market, but this one was much calmer: PerpetualDiscounts lost 10bp, FixedResets gained 6bp and DeemedRetractibles were basically flat. There was only one entry in the Performance Highlights table. Volume was very 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-0.0118 %<\/td>\n2,437.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0118 %<\/td>\n3,666.6<\/td>\n<\/tr>\n
Floater<\/td>\n2.47 %<\/td>\n2.26 %<\/td>\n38,221<\/td>\n21.62<\/td>\n4<\/td>\n-0.0118 %<\/td>\n2,632.3<\/td>\n<\/tr>\n
OpRet<\/td>\n4.90 %<\/td>\n3.30 %<\/td>\n59,456<\/td>\n2.04<\/td>\n8<\/td>\n0.1780 %<\/td>\n2,420.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.21 %<\/td>\n-1.94 %<\/td>\n75,011<\/td>\n0.62<\/td>\n6<\/td>\n0.0240 %<\/td>\n2,497.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1780 %<\/td>\n2,213.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.78 %<\/td>\n5.60 %<\/td>\n112,712<\/td>\n1.11<\/td>\n8<\/td>\n0.0397 %<\/td>\n2,055.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.57 %<\/td>\n5.59 %<\/td>\n146,657<\/td>\n14.41<\/td>\n16<\/td>\n-0.0983 %<\/td>\n2,124.6<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.17 %<\/td>\n3.39 %<\/td>\n213,398<\/td>\n2.89<\/td>\n57<\/td>\n0.0638 %<\/td>\n2,297.1<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.22 %<\/td>\n5.04 %<\/td>\n315,682<\/td>\n8.13<\/td>\n53<\/td>\n0.0023 %<\/td>\n2,101.0<\/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
CM.PR.K<\/td>\nFixedReset<\/td>\n-1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.67
\nBid-YTW : 3.25 %<\/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
SLF.PR.C<\/td>\nDeemed-Retractible<\/td>\n86,838<\/td>\nScotia crossed 59,400 at 21.25; Desjardins crossed 13,200 at the same price.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.25
\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n
TD.PR.I<\/td>\nFixedReset<\/td>\n85,148<\/td>\nRBC crossed two blocks of 40,000 each at 27.31.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.33
\nBid-YTW : 3.31 %<\/td>\n<\/tr>\n
BNS.PR.Y<\/td>\nFixedReset<\/td>\n45,423<\/td>\nRBC bought 37,300 from anonymous at 25.00.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.02
\nBid-YTW : 3.64 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset<\/td>\n37,992<\/td>\nRBC crossed 25,000 at 25.90.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.91
\nBid-YTW : 3.67 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n25,800<\/td>\nDesjardins crossed 25,000 at 22.65.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-05-03
\nMaturity Price : 22.49
\nEvaluated at bid price : 22.65
\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nDeemed-Retractible<\/td>\n24,588<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.96
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n
There were 22 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
HSB.PR.E<\/td>\nFixedReset<\/td>\nQuote: 27.40 – 27.80
\nSpot Rate : 0.4000
\nAverage : 0.2634<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.40
\nBid-YTW : 3.71 %<\/td>\n<\/tr>\n

CM.PR.K<\/td>\nFixedReset<\/td>\nQuote: 26.67 – 27.00
\nSpot Rate : 0.3300
\nAverage : 0.2275<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.67
\nBid-YTW : 3.25 %<\/td>\n<\/tr>\n

PWF.PR.I<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.17 – 25.40
\nSpot Rate : 0.2300
\nAverage : 0.1668<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.17
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n

CM.PR.L<\/td>\nFixedReset<\/td>\nQuote: 27.68 – 27.95
\nSpot Rate : 0.2700
\nAverage : 0.2160<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.68
\nBid-YTW : 2.91 %<\/td>\n<\/tr>\n

ELF.PR.G<\/td>\nDeemed-Retractible<\/td>\nQuote: 20.35 – 20.67
\nSpot Rate : 0.3200
\nAverage : 0.2673<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.35
\nBid-YTW : 7.35 %<\/td>\n<\/tr>\n

TD.PR.E<\/td>\nFixedReset<\/td>\nQuote: 27.16 – 27.36
\nSpot Rate : 0.2000
\nAverage : 0.1481<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.16
\nBid-YTW : 3.36 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The FRB Cleveland has released the April, 2011, edition of Economic Trends. There will be a conference on The Future of Life-Cycle Saving & Investing sponsored by the Boston Fed and others at the end …<\/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-14929","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14929","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=14929"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14929\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}