{"id":18521,"date":"2012-05-02T22:26:48","date_gmt":"2012-05-03T02:26:48","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=18521"},"modified":"2012-05-02T22:26:48","modified_gmt":"2012-05-03T02:26:48","slug":"may-2-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=18521","title":{"rendered":"May 2, 2012"},"content":{"rendered":"

Nothing happened today.<\/p>\n

There were solid gains in the Canadian preferred share market today, with both PerpetualPremiums and FixedResets up 10bp and DeemedRetractibles winning 21bp. Volatility, as reported by the Performance Highlights table, was virtually non-existent. Volume was comfortably above average.<\/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>\n0.2532 %<\/td>\n2,541.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.36 %<\/td>\n3.72 %<\/td>\n30,948<\/td>\n17.90<\/td>\n1<\/td>\n0.0000 %<\/td>\n3,617.6<\/td>\n<\/tr>\n
Floater<\/td>\n2.84 %<\/td>\n2.85 %<\/td>\n48,299<\/td>\n20.08<\/td>\n3<\/td>\n0.2532 %<\/td>\n2,744.0<\/td>\n<\/tr>\n
OpRet<\/td>\n4.75 %<\/td>\n2.60 %<\/td>\n53,218<\/td>\n1.12<\/td>\n5<\/td>\n0.0000 %<\/td>\n2,510.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.24 %<\/td>\n3.10 %<\/td>\n67,233<\/td>\n0.62<\/td>\n4<\/td>\n0.0495 %<\/td>\n2,694.8<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0000 %<\/td>\n2,295.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.43 %<\/td>\n-0.08 %<\/td>\n84,786<\/td>\n0.09<\/td>\n25<\/td>\n0.0967 %<\/td>\n2,232.6<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.08 %<\/td>\n5.04 %<\/td>\n91,702<\/td>\n15.26<\/td>\n8<\/td>\n0.0825 %<\/td>\n2,438.1<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.03 %<\/td>\n2.95 %<\/td>\n181,401<\/td>\n2.12<\/td>\n68<\/td>\n0.0969 %<\/td>\n2,405.3<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.94 %<\/td>\n3.51 %<\/td>\n184,546<\/td>\n1.44<\/td>\n45<\/td>\n0.2089 %<\/td>\n2,331.0<\/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
CU.PR.B<\/td>\nPerpetual-Premium<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.10
\nBid-YTW : -31.40 %<\/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
CM.PR.K<\/td>\nFixedReset<\/td>\n263,581<\/td>\nDesjardins crossed blocks of 48,700 shares, 101,700 and 100,000, all at 26.35.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.36
\nBid-YTW : 2.87 %<\/td>\n<\/tr>\n
ENB.PR.H<\/td>\nFixedReset<\/td>\n104,594<\/td>\nNesbitt crossed 50,000 at 25.50; RBC crossed 25,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-02
\nMaturity Price : 23.26
\nEvaluated at bid price : 25.51
\nBid-YTW : 3.58 %<\/td>\n<\/tr>\n
MFC.PR.A<\/td>\nOpRet<\/td>\n103,322<\/td>\nDesjardins crossed 48,000 at 25.80; TD crossed 50,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2015-12-18
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.81
\nBid-YTW : 3.30 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset<\/td>\n78,223<\/td>\nRBC crossed 63,900 at 25.10.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.07
\nBid-YTW : 3.23 %<\/td>\n<\/tr>\n
RY.PR.R<\/td>\nFixedReset<\/td>\n72,251<\/td>\nDesjardins crossed blocks of 24,300 and 25,000, both at 26.40; TD crossed 20,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.38
\nBid-YTW : 2.90 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n62,230<\/td>\nScotia crossed blocks of 18,900 and 30,000, both at 26.00.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-02
\nMaturity Price : 23.53
\nEvaluated at bid price : 26.00
\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n
There were 37 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
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.41 – 23.88
\nSpot Rate : 0.4700
\nAverage : 0.3098<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-02
\nMaturity Price : 23.16
\nEvaluated at bid price : 23.41
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n

BMO.PR.Q<\/td>\nFixedReset<\/td>\nQuote: 25.62 – 25.87
\nSpot Rate : 0.2500
\nAverage : 0.1533<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.62
\nBid-YTW : 2.97 %<\/td>\n<\/tr>\n

RY.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.65 – 25.90
\nSpot Rate : 0.2500
\nAverage : 0.1664<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-24
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.65
\nBid-YTW : 3.48 %<\/td>\n<\/tr>\n

BAM.PR.T<\/td>\nFixedReset<\/td>\nQuote: 25.40 – 25.60
\nSpot Rate : 0.2000
\nAverage : 0.1277<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-02
\nMaturity Price : 23.30
\nEvaluated at bid price : 25.40
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n

CU.PR.A<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.76 – 26.00
\nSpot Rate : 0.2400
\nAverage : 0.1784<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.76
\nBid-YTW : -17.95 %<\/td>\n<\/tr>\n

W.PR.J<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.28 – 25.45
\nSpot Rate : 0.1700
\nAverage : 0.1090<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.28
\nBid-YTW : -4.76 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today. There were solid gains in the Canadian preferred share market today, with both PerpetualPremiums and FixedResets up 10bp and DeemedRetractibles winning 21bp. Volatility, as reported by the Performance Highlights table, was virtually …<\/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-18521","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/18521","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=18521"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/18521\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}