{"id":19187,"date":"2012-07-10T23:06:52","date_gmt":"2012-07-11T03:06:52","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=19187"},"modified":"2012-07-10T23:06:52","modified_gmt":"2012-07-11T03:06:52","slug":"july-10-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=19187","title":{"rendered":"July 10, 2012"},"content":{"rendered":"

Nothing happened today.<\/p>\n

It was a mixed day for the Canadian preferred share market, with PerpetualPremiums gaining 4bp, FixedResets down 14 bp and DeemedRetractibles up 9bp. The Performance Highlights table includes only the perpetually volatile IAG.PR.A<\/a> – by the HIMIPref™ measure of volatility with respect to the Flat Bid Price, this is the third most volatile issue in the HIMIPref™ universe, and the most volatile index-included issue. The HIMIPref™ measure of volatility considers only those movements of the adjusted bid value that are contrary to the current trend (which is currently slightly negative). Volume was slightly 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>\n0.1206 %<\/td>\n2,300.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1206 %<\/td>\n3,441.7<\/td>\n<\/tr>\n
Floater<\/td>\n3.16 %<\/td>\n3.16 %<\/td>\n73,935<\/td>\n19.35<\/td>\n3<\/td>\n0.1206 %<\/td>\n2,484.2<\/td>\n<\/tr>\n
OpRet<\/td>\n4.79 %<\/td>\n2.70 %<\/td>\n42,305<\/td>\n0.95<\/td>\n5<\/td>\n-0.1464 %<\/td>\n2,516.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.51 %<\/td>\n4.97 %<\/td>\n86,680<\/td>\n4.72<\/td>\n3<\/td>\n0.0134 %<\/td>\n2,746.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1464 %<\/td>\n2,301.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.37 %<\/td>\n3.77 %<\/td>\n86,603<\/td>\n0.51<\/td>\n28<\/td>\n0.0441 %<\/td>\n2,253.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.00 %<\/td>\n4.95 %<\/td>\n112,323<\/td>\n15.53<\/td>\n6<\/td>\n0.0964 %<\/td>\n2,488.7<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.02 %<\/td>\n2.99 %<\/td>\n191,910<\/td>\n4.81<\/td>\n70<\/td>\n-0.1416 %<\/td>\n2,409.1<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.98 %<\/td>\n3.76 %<\/td>\n154,958<\/td>\n2.88<\/td>\n46<\/td>\n0.0934 %<\/td>\n2,329.2<\/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
IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\n1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.40
\nBid-YTW : 5.52 %<\/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
SLF.PR.E<\/td>\nDeemed-Retractible<\/td>\n188,325<\/td>\nNesbitt crossed 175,000 at 22.65.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.60
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n
ENB.PR.D<\/td>\nFixedReset<\/td>\n167,736<\/td>\nScotia crossed 30,000 at 25.25; RBC crossed 64,500 at 25.30; National crossed 30,000 at 25.30.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-07-10
\nMaturity Price : 23.22
\nEvaluated at bid price : 25.30
\nBid-YTW : 3.50 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Premium<\/td>\n139,550<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-09-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.31
\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n
ENB.PR.F<\/td>\nFixedReset<\/td>\n102,704<\/td>\nNesbitt crossed 35,000 at 25.25; Scotia crossed 18,000 at 25.30.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-07-10
\nMaturity Price : 23.21
\nEvaluated at bid price : 25.30
\nBid-YTW : 3.61 %<\/td>\n<\/tr>\n
RY.PR.X<\/td>\nFixedReset<\/td>\n72,415<\/td>\nRBC crossed 60,800 at 27.08.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.04
\nBid-YTW : 2.68 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nDeemed-Retractible<\/td>\n71,270<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.12
\nBid-YTW : 5.13 %<\/td>\n<\/tr>\n
There were 28 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
POW.PR.G<\/td>\nPerpetual-Premium<\/td>\nQuote: 26.00 – 26.40
\nSpot Rate : 0.4000
\nAverage : 0.2381<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.00
\nBid-YTW : 5.05 %<\/td>\n<\/tr>\n

W.PR.H<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.51 – 26.15
\nSpot Rate : 0.6400
\nAverage : 0.4890<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-01-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.51
\nBid-YTW : 1.37 %<\/td>\n<\/tr>\n

IGM.PR.B<\/td>\nPerpetual-Premium<\/td>\nQuote: 26.30 – 26.68
\nSpot Rate : 0.3800
\nAverage : 0.2420<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.30
\nBid-YTW : 4.92 %<\/td>\n<\/tr>\n

HSB.PR.C<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.68 – 26.47
\nSpot Rate : 0.7900
\nAverage : 0.6619<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-08-09
\nMaturity Price : 25.50
\nEvaluated at bid price : 25.68
\nBid-YTW : -1.91 %<\/td>\n<\/tr>\n

TCA.PR.X<\/td>\nPerpetual-Premium<\/td>\nQuote: 50.91 – 51.30
\nSpot Rate : 0.3900
\nAverage : 0.2834<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-10-15
\nMaturity Price : 50.00
\nEvaluated at bid price : 50.91
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n

BAM.PR.B<\/td>\nFloater<\/td>\nQuote: 16.71 – 16.99
\nSpot Rate : 0.2800
\nAverage : 0.1824<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-07-10
\nMaturity Price : 16.71
\nEvaluated at bid price : 16.71
\nBid-YTW : 3.16 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today. It was a mixed day for the Canadian preferred share market, with PerpetualPremiums gaining 4bp, FixedResets down 14 bp and DeemedRetractibles up 9bp. The Performance Highlights table includes only the perpetually volatile …<\/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-19187","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19187","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=19187"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19187\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}