{"id":19520,"date":"2012-08-18T01:26:17","date_gmt":"2012-08-18T05:26:17","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=19520"},"modified":"2012-08-18T01:26:17","modified_gmt":"2012-08-18T05:26:17","slug":"august-17-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=19520","title":{"rendered":"August 17, 2012"},"content":{"rendered":"

Good news on inflation<\/a>:<\/p>\n

Canadian inflation was tamer than expected in July for both the headline and core rates, bolstering expectations the Bank of Canada will leave interest rates at near-record lows well into 2013.<\/p>\n

Consumers paid less for clothing and fuels such as gasoline and natural gas in July compared with a year earlier, easing the annual inflation rate to 1.3 per cent from 1.5 per cent in June, Statistics Canada reported on Friday.<\/p>\n

The consumer price index fell 0.1 per cent in the month versus a 0.4-per-cent decline in June.<\/p>\n

The underlying core inflation rate, which excludes gasoline and seven other volatile items, softened to 1.7 per cent from 2 per cent. These items were also 0.1 per cent cheaper on a monthly basis.<\/p><\/blockquote>\n

It was a mixed day for the Canadian preferred share market, with PerpetualPremiums down 3bp, FixedResets gaining 10bp and DeemedRetractibles up 12bp. Volatility was minimal. Volume continued its recent pattern of rather high volume in a handful of issues, but overall well 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>\n0.2387 %<\/td>\n2,328.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2387 %<\/td>\n3,483.2<\/td>\n<\/tr>\n
Floater<\/td>\n3.13 %<\/td>\n3.17 %<\/td>\n61,668<\/td>\n19.26<\/td>\n3<\/td>\n0.2387 %<\/td>\n2,514.2<\/td>\n<\/tr>\n
OpRet<\/td>\n4.78 %<\/td>\n2.47 %<\/td>\n33,840<\/td>\n0.84<\/td>\n5<\/td>\n0.0125 %<\/td>\n2,541.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.44 %<\/td>\n5.07 %<\/td>\n71,470<\/td>\n4.61<\/td>\n3<\/td>\n0.0928 %<\/td>\n2,780.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0125 %<\/td>\n2,324.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.29 %<\/td>\n3.01 %<\/td>\n99,323<\/td>\n0.41<\/td>\n28<\/td>\n-0.0326 %<\/td>\n2,277.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.93 %<\/td>\n4.94 %<\/td>\n96,851<\/td>\n15.52<\/td>\n3<\/td>\n0.6127 %<\/td>\n2,536.3<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.99 %<\/td>\n3.02 %<\/td>\n174,504<\/td>\n3.96<\/td>\n71<\/td>\n0.1021 %<\/td>\n2,427.6<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.94 %<\/td>\n2.17 %<\/td>\n131,758<\/td>\n1.16<\/td>\n46<\/td>\n0.1234 %<\/td>\n2,359.1<\/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
POW.PR.D<\/td>\nPerpetual-Premium<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-17
\nMaturity Price : 24.68
\nEvaluated at bid price : 25.02
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n
ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-17
\nMaturity Price : 23.38
\nEvaluated at bid price : 23.65
\nBid-YTW : 5.06 %<\/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
BNS.PR.L<\/td>\nDeemed-Retractible<\/td>\n663,539<\/td>\nDesjardins crossed four blocks: 62,000 shares, 155,000 shares, 175,000 and 25,000, all at 25.95. National crossed 124,500, Nesbitt crossed 100,000 and TD crossed 10,000, all at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-04-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.92
\nBid-YTW : 3.50 %<\/td>\n<\/tr>\n
BMO.PR.P<\/td>\nFixedReset<\/td>\n181,644<\/td>\nRBC crossed 150,000 at 26.40; Nesbitt crossed 18,200 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.47
\nBid-YTW : 2.94 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n102,277<\/td>\nScotia crossed 100,000 at 26.35.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.31
\nBid-YTW : 2.74 %<\/td>\n<\/tr>\n
RY.PR.P<\/td>\nFixedReset<\/td>\n101,848<\/td>\nScotia crossed 35,000 at 26.35; RBC crossed 50,000 and Desjardins crossed 15,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.31
\nBid-YTW : 2.65 %<\/td>\n<\/tr>\n
BNS.PR.T<\/td>\nFixedReset<\/td>\n100,700<\/td>\nTD crossed 100,000 at 26.63.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.63
\nBid-YTW : 2.45 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Premium<\/td>\n97,613<\/td>\nNesbitt crossed 64,500 at 25.65; National crossed 12,200 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-10-31
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.62
\nBid-YTW : 4.48 %<\/td>\n<\/tr>\n
There were 18 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
HSB.PR.C<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.84 – 26.49
\nSpot Rate : 0.6500
\nAverage : 0.4740<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-09-16
\nMaturity Price : 25.50
\nEvaluated at bid price : 25.84
\nBid-YTW : -3.17 %<\/td>\n<\/tr>\n

POW.PR.D<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.02 – 25.47
\nSpot Rate : 0.4500
\nAverage : 0.2785<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-17
\nMaturity Price : 24.68
\nEvaluated at bid price : 25.02
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n

MFC.PR.A<\/td>\nOpRet<\/td>\nQuote: 25.25 – 25.48
\nSpot Rate : 0.2300
\nAverage : 0.1497<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2015-12-18
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.25
\nBid-YTW : 3.68 %<\/td>\n<\/tr>\n

TD.PR.G<\/td>\nFixedReset<\/td>\nQuote: 26.64 – 26.88
\nSpot Rate : 0.2400
\nAverage : 0.1615<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.64
\nBid-YTW : 2.46 %<\/td>\n<\/tr>\n

BAM.PR.K<\/td>\nFloater<\/td>\nQuote: 16.70 – 16.97
\nSpot Rate : 0.2700
\nAverage : 0.2037<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-17
\nMaturity Price : 16.70
\nEvaluated at bid price : 16.70
\nBid-YTW : 3.17 %<\/td>\n<\/tr>\n

HSE.PR.A<\/td>\nFixedReset<\/td>\nQuote: 25.79 – 25.97
\nSpot Rate : 0.1800
\nAverage : 0.1151<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-17
\nMaturity Price : 23.54
\nEvaluated at bid price : 25.79
\nBid-YTW : 3.02 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Good news on inflation: Canadian inflation was tamer than expected in July for both the headline and core rates, bolstering expectations the Bank of Canada will leave interest rates at near-record lows well into 2013. …<\/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-19520","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19520","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=19520"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19520\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}