{"id":19574,"date":"2012-08-27T22:59:57","date_gmt":"2012-08-28T02:59:57","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=19574"},"modified":"2012-08-27T22:59:57","modified_gmt":"2012-08-28T02:59:57","slug":"august-27-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=19574","title":{"rendered":"August 27, 2012"},"content":{"rendered":"

Good news! There’s a sign of success<\/a> in the politicians’ and regulators’ war on finance!<\/p>\n

Investment bankers in the U.K. favor working in Singapore over New York and London, where they face lower wage growth and higher taxes, according to recruitment firm Astbury Marsden.<\/p>\n

Thirty-one percent of respondents chose Singapore as their most favored location, followed by New York (20 percent) and London (19 percent), the recruiter said in its annual \u201cPreferred Location Survey.\u201d Hong Kong and Dubai got 16 percent and 15 percent, respectively. The survey found 60 percent of bankers expect the Asia-Pacific region to the largest financial center in 10 years.<\/p>\n

\u201cA fast growing, low-tax and bank-friendly environment like Singapore stands as a perfect antidote to the comparatively high-tax and anti-banker sentiment of London and New York,\u201d Mark Cameron, chief operating officer at Astbury Marsden, said in the statement. \u201cFinancial centers in the West have taken a real battering since the start of the financial crisis.\u201d <\/p><\/blockquote>\n

The OSC approved settlements with Boaz Manor<\/a>, John Ogg<\/a> and Michael Labanowich<\/a>.<\/p>\n

It was a mixed day for the Canadian preferred share market, with PerpetualPremiums down 4bp, FixedResets flat and DeemedRetractibles up 5bp. Volatility was average. Volume picked up a little, but is still dead.<\/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>\n0.2124 %<\/td>\n2,397.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2124 %<\/td>\n3,586.9<\/td>\n<\/tr>\n
Floater<\/td>\n3.03 %<\/td>\n3.07 %<\/td>\n59,075<\/td>\n19.49<\/td>\n3<\/td>\n0.2124 %<\/td>\n2,589.0<\/td>\n<\/tr>\n
OpRet<\/td>\n4.78 %<\/td>\n3.08 %<\/td>\n26,949<\/td>\n0.82<\/td>\n5<\/td>\n0.2314 %<\/td>\n2,541.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.48 %<\/td>\n4.84 %<\/td>\n67,921<\/td>\n4.65<\/td>\n3<\/td>\n-0.0666 %<\/td>\n2,798.1<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2314 %<\/td>\n2,324.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.30 %<\/td>\n3.03 %<\/td>\n94,085<\/td>\n0.49<\/td>\n28<\/td>\n-0.0452 %<\/td>\n2,275.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.95 %<\/td>\n4.96 %<\/td>\n99,876<\/td>\n15.48<\/td>\n3<\/td>\n0.2928 %<\/td>\n2,524.7<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.00 %<\/td>\n3.07 %<\/td>\n169,501<\/td>\n3.97<\/td>\n71<\/td>\n-0.0002 %<\/td>\n2,425.6<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.94 %<\/td>\n3.49 %<\/td>\n121,618<\/td>\n1.14<\/td>\n46<\/td>\n0.0453 %<\/td>\n2,364.6<\/td>\n<\/tr>\n<\/table>\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
VNR.PR.A<\/td>\nFixedReset<\/td>\n-2.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-27
\nMaturity Price : 23.33
\nEvaluated at bid price : 25.57
\nBid-YTW : 4.04 %<\/td>\n<\/tr>\n
IAG.PR.F<\/td>\nDeemed-Retractible<\/td>\n-1.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.85
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n
PWF.PR.O<\/td>\nPerpetual-Premium<\/td>\n-1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.41
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n
IAG.PR.E<\/td>\nDeemed-Retractible<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.00
\nBid-YTW : 5.19 %<\/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.G<\/td>\nFixedReset<\/td>\n164,305<\/td>\nScotia crossed 100,000 at 26.65; RBC crossed 60,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.65
\nBid-YTW : 2.48 %<\/td>\n<\/tr>\n
RY.PR.I<\/td>\nFixedReset<\/td>\n133,540<\/td>\nNesbitt crossed 100,000 at 25.75; then bought 25,000 from Desjardins at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.73
\nBid-YTW : 3.03 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n112,500<\/td>\nScotia crossed 100,000 at 25.32.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.32
\nBid-YTW : 3.07 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n107,087<\/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 : 26.21
\nBid-YTW : 2.99 %<\/td>\n<\/tr>\n
ENB.PR.N<\/td>\nFixedReset<\/td>\n81,414<\/td>\nTD crossed 49,300 at 25.31.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-27
\nMaturity Price : 23.19
\nEvaluated at bid price : 25.30
\nBid-YTW : 3.85 %<\/td>\n<\/tr>\n
BMO.PR.K<\/td>\nDeemed-Retractible<\/td>\n30,679<\/td>\nScotia crossed 29,700 at 26.35.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-11-25
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.30
\nBid-YTW : 0.47 %<\/td>\n<\/tr>\n
There were 10 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
IAG.PR.E<\/td>\nDeemed-Retractible<\/td>\nQuote: 26.00 – 26.39
\nSpot Rate : 0.3900
\nAverage : 0.2387<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.00
\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n

PWF.PR.O<\/td>\nPerpetual-Premium<\/td>\nQuote: 26.41 – 26.85
\nSpot Rate : 0.4400
\nAverage : 0.3346<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.41
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n

BAM.PR.K<\/td>\nFloater<\/td>\nQuote: 17.24 – 17.57
\nSpot Rate : 0.3300
\nAverage : 0.2448<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-27
\nMaturity Price : 17.24
\nEvaluated at bid price : 17.24
\nBid-YTW : 3.07 %<\/td>\n<\/tr>\n

POW.PR.D<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.11 – 25.38
\nSpot Rate : 0.2700
\nAverage : 0.1959<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-27
\nMaturity Price : 24.78
\nEvaluated at bid price : 25.11
\nBid-YTW : 5.03 %<\/td>\n<\/tr>\n

GWO.PR.G<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.43 – 25.61
\nSpot Rate : 0.1800
\nAverage : 0.1079<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.43
\nBid-YTW : 4.53 %<\/td>\n<\/tr>\n

TRP.PR.B<\/td>\nFixedReset<\/td>\nQuote: 25.35 – 25.60
\nSpot Rate : 0.2500
\nAverage : 0.1880<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-08-27
\nMaturity Price : 23.53
\nEvaluated at bid price : 25.35
\nBid-YTW : 2.64 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Good news! There’s a sign of success in the politicians’ and regulators’ war on finance! Investment bankers in the U.K. favor working in Singapore over New York and London, where they face lower wage growth …<\/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-19574","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19574","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=19574"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19574\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}