{"id":158,"date":"2006-10-11T22:02:12","date_gmt":"2006-10-12T02:02:12","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=158"},"modified":"2006-10-11T22:02:12","modified_gmt":"2006-10-12T02:02:12","slug":"october-11-2006","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=158","title":{"rendered":"October 11, 2006"},"content":{"rendered":"\n\n\n\n\n\n\n\n\n\n\n
Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version<\/strong><\/td>\n<\/tr>\n
Index<\/td>\nMean Current Yield (at bid)<\/td>\nMean YTW<\/td>\nMean Average Trading Value<\/td>\nMean Mod Dur (YTW)<\/td>\nIssues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n4.18%<\/td>\n4.04%<\/td>\n46,829<\/td>\n10.62<\/td>\n2<\/td>\n0.9604%<\/td>\n1,025.2<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.97%<\/td>\n3.85%<\/td>\n201,040<\/td>\n6.66<\/td>\n7<\/td>\n0.6456%<\/td>\n1,024.6<\/td>\n<\/tr>\n
Floater<\/td>\n4.53%<\/td>\n-18.28%<\/td>\n77,160<\/td>\n6.51<\/td>\n5<\/td>\n0.0718%<\/td>\n1,018.3<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.69%<\/td>\n2.09%<\/td>\n88,814<\/td>\n2.42<\/td>\n17<\/td>\n-0.0501%<\/td>\n1,016.2<\/td>\n<\/tr>\n
Split-Share<\/td>\n4.93%<\/td>\n3.69%<\/td>\n62,648<\/td>\n3.03<\/td>\n10<\/td>\n-0.2360%<\/td>\n1,015.5<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.87%<\/td>\n4.56%<\/td>\n54,878<\/td>\n2.04<\/td>\n7<\/td>\n0.1576%<\/td>\n1,025.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.11%<\/td>\n3.91%<\/td>\n173,541<\/td>\n4.30<\/td>\n46<\/td>\n0.0939%<\/td>\n1,031.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.59%<\/td>\n4.61%<\/td>\n608,834<\/td>\n16.19<\/td>\n7<\/td>\n0.0009%<\/td>\n1,033.0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
PIC.PR.A<\/td>\nSplitShares<\/td>\n-1.1077%<\/td>\nGoes ex on 10\/12 … I suspect that nobody bothered to put in a cum-dividend bid on the last cum-dividend day<\/td>\n<\/tr>\n
BCE.PR.S<\/td>\nRatchet<\/td>\n+1.0060%<\/td>\nClosed at 25.10-15, 4×10. The potential tender<\/a> is at $25.60<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\n+1.0454%<\/td>\nScarcity Value? If the BCE transaction<\/a> closes, these may be the only liquid issue that converts<\/a> (and will by that time have converted) to Ratchets<\/td>\n<\/tr>\n
BC.PR.B<\/td>\nFixedFloater<\/td>\n+1.8327%<\/td>\nClosed at 25.56-84, 5×5. The potential tender<\/a> is at $25.95<\/td>\n<\/tr>\n
BCE.PR.Y<\/td>\nScraps<\/td>\n+3.2787%<\/td>\nClosed at 25.20-50, 10×5. The potential tender<\/a> is at $25.60<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nVolume<\/td>\nNotes<\/td>\n<\/tr>\n
BC.PR.E<\/td>\nRatchet<\/td>\n82,000<\/td>\nMr. “Anonymous” sold a lot of shares today! RBC bought 25,000 @ 25.31 and two tranches of 10,000 each at 25.32; Scotia bought 15,000 @ 25.31 in two lots, then another 15,000 @ 25.32 in another two lots. Closed at 25.36-54, 20×10. The potential tender<\/a> is at $25.60<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetualPremium<\/td>\n34,133<\/td>\nNational crossed 32,100 @ 25.72. Currently callable at $25.50, declining by $0.25 every June. It pays $1.40 … therefore the company has a net cost per annum of $1.15 to keep it outstanding, so that’s what they’re doing and saving issuance costs. YTW is currently negative, but will have been 3.99% if the issue remains alive until a call at $25.00 in 2008. This is an expensive perpetual, but a cheap retractible! Somebody’s betting on low rates continuing for another two years!<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nPerpetualDiscount<\/td>\n19,335<\/td>\nComparable quality to SLF.PR.C and SLF.PR.D<\/a>, but pays a little more!<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n15,800<\/td>\nHolding its own, anyway!<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nPerpetualPremium<\/td>\n11,750<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

There was only one other index-included issue trading over 10,000 shares today.\n<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version Index Mean Current Yield (at bid) Mean YTW Mean Average Trading Value Mean Mod Dur …<\/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-158","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/158","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=158"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/158\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}