{"id":19349,"date":"2012-07-30T19:12:08","date_gmt":"2012-07-30T23:12:08","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=19349"},"modified":"2012-07-30T19:12:08","modified_gmt":"2012-07-30T23:12:08","slug":"july-30-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=19349","title":{"rendered":"July 30, 2012"},"content":{"rendered":"<p>It was a good day for the Canadian preferred share market, with PerpetualPremiums winning 12bp, FixedResets up 3bp and DeemedRetractibles gaining 2bp. Volatility was average. Volume was very low.<\/p>\n<table border='1'>\n<tr>\n<td colspan='8'><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.0000 %<\/td>\n<td>2,294.8<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.0000 %<\/td>\n<td>3,432.7<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>3.17 %<\/td>\n<td>3.19 %<\/td>\n<td>68,842<\/td>\n<td>19.24<\/td>\n<td>3<\/td>\n<td>0.0000 %<\/td>\n<td>2,477.7<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>4.77 %<\/td>\n<td>2.82 %<\/td>\n<td>35,904<\/td>\n<td>0.89<\/td>\n<td>5<\/td>\n<td>0.1460 %<\/td>\n<td>2,532.2<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>5.48 %<\/td>\n<td>4.90 %<\/td>\n<td>65,743<\/td>\n<td>4.66<\/td>\n<td>3<\/td>\n<td>-0.0932 %<\/td>\n<td>2,762.7<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.1460 %<\/td>\n<td>2,315.5<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.32 %<\/td>\n<td>0.77 %<\/td>\n<td>99,418<\/td>\n<td>0.46<\/td>\n<td>27<\/td>\n<td>0.1206 %<\/td>\n<td>2,267.9<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>4.97 %<\/td>\n<td>4.96 %<\/td>\n<td>40,036<\/td>\n<td>15.20<\/td>\n<td>6<\/td>\n<td>-0.2455 %<\/td>\n<td>2,503.1<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>4.99 %<\/td>\n<td>3.03 %<\/td>\n<td>181,728<\/td>\n<td>4.01<\/td>\n<td>71<\/td>\n<td>0.0294 %<\/td>\n<td>2,422.2<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>4.96 %<\/td>\n<td>3.53 %<\/td>\n<td>144,836<\/td>\n<td>1.81<\/td>\n<td>46<\/td>\n<td>0.0199 %<\/td>\n<td>2,347.9<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.N<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.28 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2042-07-30<br \/>\nMaturity Price  : 23.72<br \/>\nEvaluated at bid price : 24.00<br \/>\nBid-YTW : 4.99 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>-1.09 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2042-07-30<br \/>\nMaturity Price  : 23.44<br \/>\nEvaluated at bid price : 25.40<br \/>\nBid-YTW : 2.90 %<\/td>\n<\/tr>\n<tr>\n<td>IAG.PR.E<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2018-12-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.24<br \/>\nBid-YTW : 5.21 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.E<\/td>\n<td>Perpetual-Premium<\/td>\n<td>1.27 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2013-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.55<br \/>\nBid-YTW : 1.09 %<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>IAG.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>70,900<\/td>\n<td>RBC crossed 25,000 at 25.55; Desjardins crossed 28,000 at the same price.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2017-06-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.51<br \/>\nBid-YTW : 4.02 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.F<\/td>\n<td>Deemed-Retractible<\/td>\n<td>47,873<\/td>\n<td>TD crossed 40,000 at 25.78.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2016-05-24<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.75<br \/>\nBid-YTW : 3.53 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.K<\/td>\n<td>Deemed-Retractible<\/td>\n<td>39,505<\/td>\n<td>TD crossed 29,000 at 25.52.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2013-04-28<br \/>\nMaturity Price  : 25.25<br \/>\nEvaluated at bid price : 25.52<br \/>\nBid-YTW : 3.32 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.I<\/td>\n<td>FixedReset<\/td>\n<td>26,770<\/td>\n<td>RBC crossed 25,000 at 25.68.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2016-12-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.57<br \/>\nBid-YTW : 3.79 %<\/td>\n<\/tr>\n<tr>\n<td>HSB.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>25,633<\/td>\n<td>TD crossed 25,000 at 25.62.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-06-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.55<br \/>\nBid-YTW : 4.16 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>24,770<\/td>\n<td><a href=\"http:\/\/www.prefblog.com\/?p=19257\">Recent new issue<\/a>.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2042-07-30<br \/>\nMaturity Price  : 23.15<br \/>\nEvaluated at bid price : 25.16<br \/>\nBid-YTW : 3.84 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 15 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='3'><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.C<\/td>\n<td>Floater<\/td>\n<td>Quote: 16.40 &#8211; 16.85<br \/>\nSpot Rate  :  0.4500<br \/>\nAverage  :  0.2753<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2042-07-30<br \/>\nMaturity Price  : 16.40<br \/>\nEvaluated at bid price : 16.40<br \/>\nBid-YTW : 3.22 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.N<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 24.00 &#8211; 24.32<br \/>\nSpot Rate  :  0.3200<br \/>\nAverage  :  0.2004<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2042-07-30<br \/>\nMaturity Price  : 23.72<br \/>\nEvaluated at bid price : 24.00<br \/>\nBid-YTW : 4.99 %<\/td>\n<\/tr>\n<tr>\n<td>ELF.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 23.15 &#8211; 23.47<br \/>\nSpot Rate  :  0.3200<br \/>\nAverage  :  0.2132<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2042-07-30<br \/>\nMaturity Price  : 22.72<br \/>\nEvaluated at bid price : 23.15<br \/>\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.M<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 26.09 &#8211; 26.38<br \/>\nSpot Rate  :  0.2900<br \/>\nAverage  :  0.2069<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.09<br \/>\nBid-YTW : 3.01 %<\/td>\n<\/tr>\n<tr>\n<td>POW.PR.D<\/td>\n<td>Perpetual-Premium<\/td>\n<td>Quote: 25.14 &#8211; 25.45<br \/>\nSpot Rate  :  0.3100<br \/>\nAverage  :  0.2306<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-10-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.14<br \/>\nBid-YTW : 4.86 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.O<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 25.99 &#8211; 26.24<br \/>\nSpot Rate  :  0.2500<br \/>\nAverage  :  0.1777<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2012-08-29<br \/>\nMaturity Price  : 25.75<br \/>\nEvaluated at bid price : 25.99<br \/>\nBid-YTW : -6.64 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>It was a good day for the Canadian preferred share market, with PerpetualPremiums winning 12bp, FixedResets up 3bp and DeemedRetractibles gaining 2bp. Volatility was average. Volume was very low. HIMIPref&trade; Preferred IndicesThese values reflect the &hellip;<\/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-19349","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19349","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=19349"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19349\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}