{"id":15187,"date":"2011-05-26T23:44:05","date_gmt":"2011-05-27T03:44:05","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=15187"},"modified":"2011-05-26T23:44:05","modified_gmt":"2011-05-27T03:44:05","slug":"may-26-2011","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=15187","title":{"rendered":"May 26, 2011"},"content":{"rendered":"

Yellow got clobbered again!<\/p>\n

\n\n\n\n\n\n\n\n
YLO Issues, 2011-5-26<\/td>\n<\/tr>\n
Ticker<\/td>\nQuote
5\/25<\/td>\n		Quote
5\/26<\/td>\n		Bid YTW
5\/26<\/td>\n		YTW
Scenario
5\/26<\/td>\n		Performance
5\/26
(bid\/bid)<\/td>\n<\/tr>\n
YLO.PR.A<\/td>\n23.84-95<\/td>\n22.75-85<\/td>\n11.04%<\/td>\nSoft Maturity
2012-12-30<\/td>\n		-4.57%<\/td>\n<\/tr>\n
YLO.PR.B<\/td>\n17.85-99<\/td>\n17.06-10<\/td>\n12.96%<\/td>\nSoft Maturity
2017-06-29<\/td>\n		-4.42%<\/td>\n<\/tr>\n
YLO.PR.C<\/td>\n18.88-00<\/td>\n18.20-60<\/td>\n9.27%<\/td>\nLimit Maturity<\/td>\n-3.60%<\/td>\n<\/tr>\n
YLO.PR.D<\/td>\n19.17-34<\/td>\n18.99-09<\/td>\n9.04%<\/td>\nLimit Maturity<\/td>\n-0.94%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

Apart from that, said Mrs. Lincoln, it was a very nice evening at the theatre! The Canadian preferred share market did quite well today, with PerpetualDiscounts gaining 15bp, FixedResets picking up 1bp and DeemedRetractibles winning 29bp. A good crop of winners is in the Performance Highlights table, led by CM.PR.H, which is being redeemed<\/a> and followed by others that are not seeking NVCC status<\/a>. Volume was good, and again CM issues were featured.<\/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-0.0815 %<\/td>\n2,462.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0815 %<\/td>\n3,703.7<\/td>\n<\/tr>\n
Floater<\/td>\n2.45 %<\/td>\n2.24 %<\/td>\n44,485<\/td>\n21.64<\/td>\n4<\/td>\n-0.0815 %<\/td>\n2,658.9<\/td>\n<\/tr>\n
OpRet<\/td>\n4.88 %<\/td>\n3.36 %<\/td>\n63,550<\/td>\n0.42<\/td>\n9<\/td>\n-0.1844 %<\/td>\n2,418.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.22 %<\/td>\n-2.16 %<\/td>\n60,882<\/td>\n0.55<\/td>\n6<\/td>\n0.0000 %<\/td>\n2,514.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1844 %<\/td>\n2,211.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.72 %<\/td>\n4.96 %<\/td>\n143,584<\/td>\n0.82<\/td>\n9<\/td>\n0.1694 %<\/td>\n2,072.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.48 %<\/td>\n5.56 %<\/td>\n127,396<\/td>\n14.47<\/td>\n15<\/td>\n0.1511 %<\/td>\n2,170.0<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.15 %<\/td>\n3.19 %<\/td>\n195,858<\/td>\n2.86<\/td>\n57<\/td>\n0.0159 %<\/td>\n2,309.0<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.12 %<\/td>\n4.91 %<\/td>\n328,759<\/td>\n8.08<\/td>\n53<\/td>\n0.2880 %<\/td>\n2,150.8<\/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
ELF.PR.G<\/td>\nDeemed-Retractible<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.91
\nBid-YTW : 7.07 %<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nDeemed-Retractible<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.76
\nBid-YTW : 4.68 %<\/td>\n<\/tr>\n
RY.PR.A<\/td>\nDeemed-Retractible<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.61
\nBid-YTW : 4.66 %<\/td>\n<\/tr>\n
IGM.PR.B<\/td>\nPerpetual-Premium<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.76
\nBid-YTW : 5.51 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-05-26
\nMaturity Price : 23.58
\nEvaluated at bid price : 23.85
\nBid-YTW : 5.30 %<\/td>\n<\/tr>\n
CM.PR.J<\/td>\nDeemed-Retractible<\/td>\n2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.97
\nBid-YTW : 4.58 %<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nDeemed-Retractible<\/td>\n2.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-03-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.21
\nBid-YTW : 4.61 %<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nDeemed-Retractible<\/td>\n3.44 %<\/td>\nCalled for redemption<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2011-06-25
\nMaturity Price : 25.75
\nEvaluated at bid price : 25.86
\nBid-YTW : 3.51 %<\/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
MFC.PR.A<\/td>\nOpRet<\/td>\n179,405<\/td>\nDesjardins crossed 150,400 at 25.50; then another 20,000 at 25.54.
\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2015-12-18
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.34
\nBid-YTW : 3.73 %<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nDeemed-Retractible<\/td>\n164,454<\/td>\nCalled for redemption<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2011-06-25
\nMaturity Price : 25.75
\nEvaluated at bid price : 25.86
\nBid-YTW : 3.51 %<\/td>\n<\/tr>\n
CM.PR.G<\/td>\nDeemed-Retractible<\/td>\n103,470<\/td>\nSeeking NVCC status<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.23
\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nDeemed-Retractible<\/td>\n87,953<\/td>\nTD bought 10,000 from anonymous at 24.87.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.87
\nBid-YTW : 4.99 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n86,924<\/td>\nDesjardins bought blocks of 25,000 and 15,000 from anonymous, both at 25.46; Desjardins crossed 25,000 at 25.57.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.57
\nBid-YTW : 4.12 %<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nDeemed-Retractible<\/td>\n78,282<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-03-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.21
\nBid-YTW : 4.61 %<\/td>\n<\/tr>\n
There were 38 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
FTS.PR.G<\/td>\nFixedReset<\/td>\nQuote: 25.93 – 26.53
\nSpot Rate : 0.6000
\nAverage : 0.3412<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-10-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.93
\nBid-YTW : 3.49 %<\/td>\n<\/tr>\n

IAG.PR.C<\/td>\nFixedReset<\/td>\nQuote: 26.87 – 27.25
\nSpot Rate : 0.3800
\nAverage : 0.2706<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.87
\nBid-YTW : 3.06 %<\/td>\n<\/tr>\n

BAM.PR.O<\/td>\nOpRet<\/td>\nQuote: 26.06 – 26.39
\nSpot Rate : 0.3300
\nAverage : 0.2266<\/p>\n

YTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2013-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.06
\nBid-YTW : 3.28 %<\/td>\n<\/tr>\n

NA.PR.L<\/td>\nDeemed-Retractible<\/td>\nQuote: 24.87 – 25.18
\nSpot Rate : 0.3100
\nAverage : 0.2119<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.87
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n

BNS.PR.T<\/td>\nFixedReset<\/td>\nQuote: 27.40 – 27.66
\nSpot Rate : 0.2600
\nAverage : 0.1825<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.40
\nBid-YTW : 3.08 %<\/td>\n<\/tr>\n

BAM.PR.P<\/td>\nFixedReset<\/td>\nQuote: 27.52 – 27.74
\nSpot Rate : 0.2200
\nAverage : 0.1582<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-10-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.52
\nBid-YTW : 4.17 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Yellow got clobbered again! YLO Issues, 2011-5-26 Ticker Quote5\/25 Quote5\/26 Bid YTW5\/26 YTWScenario5\/26 Performance5\/26(bid\/bid) YLO.PR.A 23.84-95 22.75-85 11.04% Soft Maturity2012-12-30 -4.57% YLO.PR.B 17.85-99 17.06-10 12.96% Soft Maturity2017-06-29 -4.42% YLO.PR.C 18.88-00 18.20-60 9.27% Limit Maturity -3.60% …<\/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-15187","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/15187","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=15187"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/15187\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}