{"id":19450,"date":"2012-08-08T23:20:55","date_gmt":"2012-08-09T03:20:55","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=19450"},"modified":"2012-08-08T23:20:55","modified_gmt":"2012-08-09T03:20:55","slug":"august-8-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=19450","title":{"rendered":"August 8, 2012"},"content":{"rendered":"

Fisher says that central banks are pushing on a string<\/a>:<\/p>\n

Federal Reserve Bank of Dallas President Richard Fisher said adequate economic stimulus is in place and that global central banks may not have the capacity to undertake additional measures.<\/p>\n

\u201cWe\u2019re at the risk of overburdening the central banks,\u201d Fisher said in an interview today on \u201cBloomberg Surveillance\u201d with Tom Keene and Sara Eisen. \u201cWe keep applying what I call monetary Ritalin to the system. We all know there\u2019s a risk of over-prescribing.\u201d<\/p>\n

Fisher said the largest banks have $1.5 trillion in excess reserves that they would like to put to work and that the private sector now must take the next steps to boost growth. Lawmakers also must act to eliminate uncertainty about government spending and tax rates, Fisher said.<\/p>\n

\u201cWe have done our job,\u201d Fisher said of the Fed. \u201cWe have done enough. Just doing more doesn\u2019t solve the problem. The problem is engaging the transmission. We provided the gas, the gas tank is full.\u201d<\/p><\/blockquote>\n

Today’s report will be late. Today’s nightmare is a router upgrade at the server farm that hosts HIMIPref™ (and all my websites) – I get an intermittent and randomly timed error caused by the host programme’s being “Unable to connect to the remote server” when performing one of the myriad Web Service accesses in the course of its run.<\/p>\n

I am working to make the programme more robust by repeating attempts to contact the server when this error is reported and confidently expect to complete the process at about the same time as the server farm management fixes the routing problem.<\/p>\n

Update<\/b>:<\/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>\n0.3414 %<\/td>\n2,308.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3414 %<\/td>\n3,453.5<\/td>\n<\/tr>\n
Floater<\/td>\n3.15 %<\/td>\n3.19 %<\/td>\n67,059<\/td>\n19.22<\/td>\n3<\/td>\n0.3414 %<\/td>\n2,492.7<\/td>\n<\/tr>\n
OpRet<\/td>\n4.75 %<\/td>\n2.31 %<\/td>\n32,420<\/td>\n0.87<\/td>\n5<\/td>\n0.0842 %<\/td>\n2,538.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.48 %<\/td>\n5.06 %<\/td>\n67,940<\/td>\n4.64<\/td>\n3<\/td>\n0.1868 %<\/td>\n2,763.1<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0842 %<\/td>\n2,321.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.30 %<\/td>\n3.96 %<\/td>\n108,453<\/td>\n1.14<\/td>\n28<\/td>\n0.0440 %<\/td>\n2,272.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.98 %<\/td>\n4.97 %<\/td>\n99,196<\/td>\n15.48<\/td>\n3<\/td>\n-0.0420 %<\/td>\n2,509.3<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.99 %<\/td>\n3.10 %<\/td>\n179,265<\/td>\n3.93<\/td>\n71<\/td>\n-0.0430 %<\/td>\n2,420.6<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.95 %<\/td>\n3.54 %<\/td>\n138,585<\/td>\n1.33<\/td>\n46<\/td>\n0.0213 %<\/td>\n2,352.2<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.43
\nBid-YTW : 3.95 %<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.77
\nBid-YTW : 5.37 %<\/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
TD.PR.O<\/td>\nDeemed-Retractible<\/td>\n101,700<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-09-07
\nMaturity Price : 25.75
\nEvaluated at bid price : 25.99
\nBid-YTW : -5.27 %<\/td>\n<\/tr>\n
CM.PR.E<\/td>\nPerpetual-Premium<\/td>\n90,282<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-09-07
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.88
\nBid-YTW : -21.57 %<\/td>\n<\/tr>\n
CM.PR.L<\/td>\nFixedReset<\/td>\n51,821<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.76
\nBid-YTW : 2.41 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n51,245<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.25
\nBid-YTW : 2.82 %<\/td>\n<\/tr>\n
CM.PR.D<\/td>\nPerpetual-Premium<\/td>\n47,200<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-09-07
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.02
\nBid-YTW : -37.26 %<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nDeemed-Retractible<\/td>\n42,300<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-09-07
\nMaturity Price : 25.50
\nEvaluated at bid price : 25.57
\nBid-YTW : 3.10 %<\/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
MFC.PR.F<\/td>\nFixedReset<\/td>\nQuote: 23.90 – 24.55
\nSpot Rate : 0.6500
\nAverage : 0.3948<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.90
\nBid-YTW : 4.07 %<\/td>\n<\/tr>\n

IAG.PR.E<\/td>\nDeemed-Retractible<\/td>\nQuote: 26.44 – 26.95
\nSpot Rate : 0.5100
\nAverage : 0.3721<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-12-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.44
\nBid-YTW : 5.32 %<\/td>\n<\/tr>\n

BAM.PR.R<\/td>\nFixedReset<\/td>\nQuote: 26.42 – 26.82
\nSpot Rate : 0.4000
\nAverage : 0.2849<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-08
\nMaturity Price : 23.66
\nEvaluated at bid price : 26.42
\nBid-YTW : 3.66 %<\/td>\n<\/tr>\n

HSB.PR.C<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.51 – 25.85
\nSpot Rate : 0.3400
\nAverage : 0.2518<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.51
\nBid-YTW : 4.30 %<\/td>\n<\/tr>\n

BMO.PR.N<\/td>\nFixedReset<\/td>\nQuote: 26.49 – 26.70
\nSpot Rate : 0.2100
\nAverage : 0.1262<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.49
\nBid-YTW : 2.37 %<\/td>\n<\/tr>\n

BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\nQuote: 24.12 – 24.49
\nSpot Rate : 0.3700
\nAverage : 0.2982<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-08
\nMaturity Price : 23.83
\nEvaluated at bid price : 24.12
\nBid-YTW : 4.97 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Fisher says that central banks are pushing on a string: Federal Reserve Bank of Dallas President Richard Fisher said adequate economic stimulus is in place and that global central banks may not have the capacity …<\/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-19450","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19450","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=19450"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19450\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}