{"id":18686,"date":"2012-05-23T01:08:50","date_gmt":"2012-05-23T05:08:50","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=18686"},"modified":"2012-05-23T01:08:50","modified_gmt":"2012-05-23T05:08:50","slug":"may-22-2012-2","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=18686","title":{"rendered":"May 22, 2012"},"content":{"rendered":"

BC Hydro couldn’t care less about operating on a cost-recovery basis. That’s not important<\/a>:<\/p>\n

Energy Minister Rich Coleman says he has cut expected BC Hydro rate increases by 50 per cent over three years.<\/p>\n

Mr. Coleman says he made the decision based on a government-ordered review of hydro services and because the government wants to keep rates affordable for families.<\/p><\/blockquote>\n

DBRS put Spain<\/a>, Italy<\/a>, Portugal<\/a> and Ireland<\/a> on Review-Negative:<\/p>\n

This action reflects DBRS\u2019s assessment that downside risks to growth in the Euro area have intensified as a result of systemic concerns emanating from Greece. Recent political developments have called into question the Greek government\u2019s willingness and capacity to comply with its EU-IMF adjustment programme and sustain its membership in the European Monetary Union. DBRS will assess, over the next three months, the risks stemming from Greece and to what extent uncertainty over the future of Greece, combined with concerns over sovereign debt sustainability and financial sector fragility in the Euro area, may adversely affect Ireland\u2019s efforts to stabilise its public debt. <\/p><\/blockquote>\n

It was a mixed day for the Canadian preferred share market, with PerpetualPremiums down 9bp, FixedResets winning 12bp and DeemedRetractibles gaining 4bp. The Performance Highlights table was well populated, entirely with winners. Volume was below 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>\n2.0288 %<\/td>\n2,466.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.44 %<\/td>\n3.81 %<\/td>\n29,182<\/td>\n17.71<\/td>\n1<\/td>\n0.0000 %<\/td>\n3,554.6<\/td>\n<\/tr>\n
Floater<\/td>\n2.93 %<\/td>\n2.94 %<\/td>\n61,752<\/td>\n19.83<\/td>\n3<\/td>\n2.0288 %<\/td>\n2,663.4<\/td>\n<\/tr>\n
OpRet<\/td>\n4.81 %<\/td>\n2.92 %<\/td>\n48,954<\/td>\n1.07<\/td>\n5<\/td>\n-0.3315 %<\/td>\n2,498.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.27 %<\/td>\n-1.88 %<\/td>\n51,801<\/td>\n0.57<\/td>\n4<\/td>\n-0.1686 %<\/td>\n2,711.4<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.3315 %<\/td>\n2,284.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.46 %<\/td>\n2.02 %<\/td>\n74,560<\/td>\n0.64<\/td>\n25<\/td>\n-0.0924 %<\/td>\n2,225.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.11 %<\/td>\n5.24 %<\/td>\n87,909<\/td>\n15.00<\/td>\n8<\/td>\n0.5517 %<\/td>\n2,429.8<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.06 %<\/td>\n3.13 %<\/td>\n189,087<\/td>\n2.16<\/td>\n68<\/td>\n0.1175 %<\/td>\n2,392.7<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.96 %<\/td>\n3.64 %<\/td>\n174,398<\/td>\n1.38<\/td>\n45<\/td>\n0.0436 %<\/td>\n2,322.3<\/td>\n<\/tr>\n<\/table>\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
BAM.PF.A<\/td>\nFixedReset<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-22
\nMaturity Price : 23.19
\nEvaluated at bid price : 25.30
\nBid-YTW : 4.27 %<\/td>\n<\/tr>\n
TD.PR.P<\/td>\nDeemed-Retractible<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-11-01
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.54
\nBid-YTW : 1.05 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-22
\nMaturity Price : 22.51
\nEvaluated at bid price : 22.90
\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n
MFC.PR.D<\/td>\nFixedReset<\/td>\n1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.50
\nBid-YTW : 3.37 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-22
\nMaturity Price : 22.53
\nEvaluated at bid price : 22.90
\nBid-YTW : 5.25 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n5.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-22
\nMaturity Price : 18.15
\nEvaluated at bid price : 18.15
\nBid-YTW : 2.91 %<\/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
PWF.PR.I<\/td>\nPerpetual-Premium<\/td>\n103,259<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-06-21
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : -13.29 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nDeemed-Retractible<\/td>\n87,700<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.92
\nBid-YTW : 5.37 %<\/td>\n<\/tr>\n
BNS.PR.Q<\/td>\nFixedReset<\/td>\n75,770<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.66
\nBid-YTW : 3.13 %<\/td>\n<\/tr>\n
ENB.PR.F<\/td>\nFixedReset<\/td>\n75,085<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.41
\nBid-YTW : 3.69 %<\/td>\n<\/tr>\n
RY.PR.Y<\/td>\nFixedReset<\/td>\n70,760<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-11-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.81
\nBid-YTW : 3.09 %<\/td>\n<\/tr>\n
MFC.PR.D<\/td>\nFixedReset<\/td>\n66,995<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.50
\nBid-YTW : 3.37 %<\/td>\n<\/tr>\n
There were 24 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
TCA.PR.Y<\/td>\nPerpetual-Premium<\/td>\nQuote: 52.15 – 52.65
\nSpot Rate : 0.5000
\nAverage : 0.3696<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-05
\nMaturity Price : 50.00
\nEvaluated at bid price : 52.15
\nBid-YTW : 3.29 %<\/td>\n<\/tr>\n

FTS.PR.E<\/td>\nOpRet<\/td>\nQuote: 26.20 – 26.65
\nSpot Rate : 0.4500
\nAverage : 0.3579<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-06-01
\nMaturity Price : 25.75
\nEvaluated at bid price : 26.20
\nBid-YTW : 2.92 %<\/td>\n<\/tr>\n

BNS.PR.T<\/td>\nFixedReset<\/td>\nQuote: 26.59 – 26.85
\nSpot Rate : 0.2600
\nAverage : 0.1729<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.59
\nBid-YTW : 3.06 %<\/td>\n<\/tr>\n

TRP.PR.C<\/td>\nFixedReset<\/td>\nQuote: 25.81 – 26.09
\nSpot Rate : 0.2800
\nAverage : 0.1993<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-05-22
\nMaturity Price : 23.53
\nEvaluated at bid price : 25.81
\nBid-YTW : 2.95 %<\/td>\n<\/tr>\n

TCA.PR.X<\/td>\nPerpetual-Premium<\/td>\nQuote: 52.06 – 52.49
\nSpot Rate : 0.4300
\nAverage : 0.3497<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-10-15
\nMaturity Price : 50.00
\nEvaluated at bid price : 52.06
\nBid-YTW : 2.85 %<\/td>\n<\/tr>\n

PWF.PR.R<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.77 – 26.00
\nSpot Rate : 0.2300
\nAverage : 0.1543<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.77
\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

BC Hydro couldn’t care less about operating on a cost-recovery basis. That’s not important: Energy Minister Rich Coleman says he has cut expected BC Hydro rate increases by 50 per cent over three years. Mr. …<\/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-18686","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/18686","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=18686"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/18686\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}