{"id":19911,"date":"2012-10-05T01:08:39","date_gmt":"2012-10-05T05:08:39","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=19911"},"modified":"2012-10-05T01:08:39","modified_gmt":"2012-10-05T05:08:39","slug":"october-4-2012","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=19911","title":{"rendered":"October 4, 2012"},"content":{"rendered":"

Looks like it will be the Americans getting all the Asian LNG business<\/a>:<\/p>\n

A massive new proposal to export natural gas from Alaska brings a major competitor into the race to carry North American gas to Asia, and adds pressure on Canadian export projects to build quickly or risk losing out.<\/p>\n

The Alaska Southcentral LNG project would include construction of a 1,300-kilometre pipeline from Alaskan North Slope gas fields to southern waters, near Valdez or Anchorage, where a new terminal would load liquefied natural gas on to tankers.<\/p><\/blockquote>\n

Canadian productivity, Canadian schmoductivity. We’ll sell our gas to the US at a discount so they can sell theirs at a premium. Just like oil.<\/p>\n

Another flattish day for the Canadian preferred share market, with PerpetualPremiums off 1bp, FixedResets gaining 2bp and DeemedRetractibles up 1bp. Volatility was muted. Volume was low.<\/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>\n-0.4737 %<\/td>\n2,445.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.32 %<\/td>\n3.69 %<\/td>\n34,620<\/td>\n17.86<\/td>\n1<\/td>\n-0.0454 %<\/td>\n3,688.4<\/td>\n<\/tr>\n
Floater<\/td>\n3.00 %<\/td>\n3.01 %<\/td>\n54,770<\/td>\n19.73<\/td>\n3<\/td>\n-0.4737 %<\/td>\n2,640.3<\/td>\n<\/tr>\n
OpRet<\/td>\n4.63 %<\/td>\n2.88 %<\/td>\n60,493<\/td>\n0.69<\/td>\n4<\/td>\n-0.1619 %<\/td>\n2,568.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.44 %<\/td>\n5.04 %<\/td>\n73,150<\/td>\n4.54<\/td>\n3<\/td>\n-0.1190 %<\/td>\n2,819.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1619 %<\/td>\n2,348.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.28 %<\/td>\n2.16 %<\/td>\n94,650<\/td>\n0.39<\/td>\n27<\/td>\n-0.0086 %<\/td>\n2,299.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.01 %<\/td>\n4.92 %<\/td>\n54,887<\/td>\n15.52<\/td>\n4<\/td>\n-0.2250 %<\/td>\n2,582.4<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.98 %<\/td>\n2.97 %<\/td>\n187,507<\/td>\n4.01<\/td>\n73<\/td>\n0.0194 %<\/td>\n2,435.8<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.94 %<\/td>\n3.49 %<\/td>\n120,971<\/td>\n1.57<\/td>\n46<\/td>\n0.0069 %<\/td>\n2,378.1<\/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
BAM.PR.B<\/td>\nFloater<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-10-04
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 3.00 %<\/td>\n<\/tr>\n
ELF.PR.H<\/td>\nPerpetual-Premium<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.60
\nBid-YTW : 5.15 %<\/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
ENB.PR.P<\/td>\nFixedReset<\/td>\n105,407<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-10-04
\nMaturity Price : 23.14
\nEvaluated at bid price : 25.15
\nBid-YTW : 3.69 %<\/td>\n<\/tr>\n
RY.PR.N<\/td>\nFixedReset<\/td>\n96,900<\/td>\nTD crossed 85,000 at 26.52.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.53
\nBid-YTW : 2.28 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset<\/td>\n77,345<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-10-04
\nMaturity Price : 23.13
\nEvaluated at bid price : 25.11
\nBid-YTW : 3.86 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset<\/td>\n62,150<\/td>\nNesbitt crossed 50,000 at 26.10.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.15
\nBid-YTW : 3.04 %<\/td>\n<\/tr>\n
RY.PR.I<\/td>\nFixedReset<\/td>\n51,250<\/td>\nNational bought 40,000 from Nesbitt at 25.75.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.75
\nBid-YTW : 3.18 %<\/td>\n<\/tr>\n
RY.PR.L<\/td>\nFixedReset<\/td>\n43,446<\/td>\nTD crossed 15,000 at 26.18. National crossed 25,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.14
\nBid-YTW : 2.71 %<\/td>\n<\/tr>\n
There were 22 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
IGM.PR.B<\/td>\nPerpetual-Premium<\/td>\nQuote: 26.88 – 28.70
\nSpot Rate : 1.8200
\nAverage : 1.5558<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-12-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.88
\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n

ELF.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 25.06 – 25.45
\nSpot Rate : 0.3900
\nAverage : 0.2256<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-10-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.06
\nBid-YTW : 4.92 %<\/td>\n<\/tr>\n

BAM.PR.T<\/td>\nFixedReset<\/td>\nQuote: 25.20 – 25.58
\nSpot Rate : 0.3800
\nAverage : 0.2537<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-10-04
\nMaturity Price : 23.27
\nEvaluated at bid price : 25.20
\nBid-YTW : 3.63 %<\/td>\n<\/tr>\n

BAM.PR.B<\/td>\nFloater<\/td>\nQuote: 17.60 – 17.87
\nSpot Rate : 0.2700
\nAverage : 0.1713<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-10-04
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 3.00 %<\/td>\n<\/tr>\n

TRP.PR.C<\/td>\nFixedReset<\/td>\nQuote: 25.32 – 25.58
\nSpot Rate : 0.2600
\nAverage : 0.1802<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-10-04
\nMaturity Price : 23.44
\nEvaluated at bid price : 25.32
\nBid-YTW : 2.84 %<\/td>\n<\/tr>\n

POW.PR.C<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.66 – 25.95
\nSpot Rate : 0.2900
\nAverage : 0.2107<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-11-03
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.66
\nBid-YTW : -26.18 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Looks like it will be the Americans getting all the Asian LNG business: A massive new proposal to export natural gas from Alaska brings a major competitor into the race to carry North American gas …<\/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-19911","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19911","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=19911"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19911\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}