{"id":18031,"date":"2012-03-06T23:27:21","date_gmt":"2012-03-07T03:27:21","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=18031"},"modified":"2012-03-06T23:27:21","modified_gmt":"2012-03-07T03:27:21","slug":"march-6-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=18031","title":{"rendered":"March 6, 2012"},"content":{"rendered":"

Equities got whacked<\/a>:<\/p>\n

The six largest S&P\/TSX banks and all eight insurers fell. TD dropped 1.6 percent to C$80.55. Royal Bank of Canada (RY), its bigger domestic rival, lost 1.1 percent to C$56.15. Manulife Financial Corp. (MFC), North America\u2019s third-largest insurer, retreated 4.1 percent to C$11.81.<\/p><\/blockquote>\n

The Canadian preferred share market followed equities, with PerpetualPremiums down 12bp FixedResets off 15bp and DeemedRetractibles losing 24bp. All entries on the relatively length Performance Highlights table, almost entirely comprised of insurers today, were negative. Volume was very low.<\/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-0.1918 %<\/td>\n2,367.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.57 %<\/td>\n3.95 %<\/td>\n40,152<\/td>\n17.38<\/td>\n1<\/td>\n0.0481 %<\/td>\n3,412.5<\/td>\n<\/tr>\n
Floater<\/td>\n3.03 %<\/td>\n3.06 %<\/td>\n48,663<\/td>\n19.50<\/td>\n3<\/td>\n-0.1918 %<\/td>\n2,556.6<\/td>\n<\/tr>\n
OpRet<\/td>\n4.88 %<\/td>\n2.67 %<\/td>\n54,485<\/td>\n1.21<\/td>\n6<\/td>\n-0.2673 %<\/td>\n2,507.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.28 %<\/td>\n-1.79 %<\/td>\n86,486<\/td>\n0.77<\/td>\n4<\/td>\n0.1895 %<\/td>\n2,678.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2673 %<\/td>\n2,293.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.40 %<\/td>\n-1.89 %<\/td>\n110,592<\/td>\n0.15<\/td>\n25<\/td>\n-0.1166 %<\/td>\n2,216.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.08 %<\/td>\n5.08 %<\/td>\n187,586<\/td>\n15.28<\/td>\n7<\/td>\n-0.3861 %<\/td>\n2,424.8<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.05 %<\/td>\n2.89 %<\/td>\n208,131<\/td>\n2.25<\/td>\n66<\/td>\n-0.1486 %<\/td>\n2,385.2<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.93 %<\/td>\n3.76 %<\/td>\n225,612<\/td>\n2.92<\/td>\n46<\/td>\n-0.2443 %<\/td>\n2,310.7<\/td>\n<\/tr>\n<\/table>\n\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>\nPerpetual-Discount<\/td>\n-1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-06
\nMaturity Price : 22.25
\nEvaluated at bid price : 22.55
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-06
\nMaturity Price : 23.51
\nEvaluated at bid price : 25.81
\nBid-YTW : 2.97 %<\/td>\n<\/tr>\n
PWF.PR.O<\/td>\nPerpetual-Premium<\/td>\n-1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.41
\nBid-YTW : 4.93 %<\/td>\n<\/tr>\n
MFC.PR.A<\/td>\nOpRet<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2015-12-18
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.38
\nBid-YTW : 3.64 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.30
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-06
\nMaturity Price : 23.53
\nEvaluated at bid price : 26.08
\nBid-YTW : 3.77 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nDeemed-Retractible<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.93
\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.01
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
MFC.PR.D<\/td>\nFixedReset<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.33
\nBid-YTW : 4.07 %<\/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
ENB.PR.F<\/td>\nFixedReset<\/td>\n85,027<\/td>\nRBC crossed 73,900 at 25.40.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-06
\nMaturity Price : 23.23
\nEvaluated at bid price : 25.42
\nBid-YTW : 3.75 %<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nDeemed-Retractible<\/td>\n68,688<\/td>\nTD crossed 40,000 at 25.80; Desjardins crossed 10,900 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-07-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.83
\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Premium<\/td>\n65,736<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.70
\nBid-YTW : 5.17 %<\/td>\n<\/tr>\n
BAM.PR.H<\/td>\nOpRet<\/td>\n60,374<\/td>\nCalled for redemption<\/a>.
\nYTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2012-04-05
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.32
\nBid-YTW : 2.67 %<\/td>\n<\/tr>\n
TD.PR.K<\/td>\nFixedReset<\/td>\n49,034<\/td>\nTD crossed 45,000 at 27.22.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.21
\nBid-YTW : 2.71 %<\/td>\n<\/tr>\n
ENB.PR.D<\/td>\nFixedReset<\/td>\n49,025<\/td>\nRBC crossed 25,000 at 25.55.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-06
\nMaturity Price : 23.28
\nEvaluated at bid price : 25.55
\nBid-YTW : 3.59 %<\/td>\n<\/tr>\n
There were 17 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
RY.PR.H<\/td>\nDeemed-Retractible<\/td>\nQuote: 27.20 – 27.60
\nSpot Rate : 0.4000
\nAverage : 0.2461<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-05-24
\nMaturity Price : 26.00
\nEvaluated at bid price : 27.20
\nBid-YTW : 1.72 %<\/td>\n<\/tr>\n

TCA.PR.Y<\/td>\nPerpetual-Premium<\/td>\nQuote: 52.23 – 52.65
\nSpot Rate : 0.4200
\nAverage : 0.2921<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-05
\nMaturity Price : 50.00
\nEvaluated at bid price : 52.23
\nBid-YTW : 3.56 %<\/td>\n<\/tr>\n

CIU.PR.A<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.20 – 25.69
\nSpot Rate : 0.4900
\nAverage : 0.3652<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-06
\nMaturity Price : 24.91
\nEvaluated at bid price : 25.20
\nBid-YTW : 4.57 %<\/td>\n<\/tr>\n

PWF.PR.O<\/td>\nPerpetual-Premium<\/td>\nQuote: 26.41 – 26.75
\nSpot Rate : 0.3400
\nAverage : 0.2420<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.41
\nBid-YTW : 4.93 %<\/td>\n<\/tr>\n

ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.55 – 22.87
\nSpot Rate : 0.3200
\nAverage : 0.2223<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-06
\nMaturity Price : 22.25
\nEvaluated at bid price : 22.55
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n

ELF.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 24.61 – 24.99
\nSpot Rate : 0.3800
\nAverage : 0.2842<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-03-06
\nMaturity Price : 24.36
\nEvaluated at bid price : 24.61
\nBid-YTW : 5.46 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Equities got whacked: The six largest S&P\/TSX banks and all eight insurers fell. TD dropped 1.6 percent to C$80.55. Royal Bank of Canada (RY), its bigger domestic rival, lost 1.1 percent to C$56.15. Manulife Financial …<\/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-18031","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/18031","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=18031"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/18031\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}