{"id":2017,"date":"2008-04-02T20:59:37","date_gmt":"2008-04-03T00:59:37","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2017"},"modified":"2008-04-02T20:59:37","modified_gmt":"2008-04-03T00:59:37","slug":"april-2-2008","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2017","title":{"rendered":"April 2, 2008"},"content":{"rendered":"

Sorry folks! Today’s commentary is greatly abridged … but I did post some commentary on Financial Stability<\/a> and MAPF Portfolio Composition<\/a>.<\/p>\n

Not much price movement in the preferred share market today, and volume eased off.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version. In this version, index values are based at 1,000.0 on 2006-6-30<\/strong><\/td>\n<\/tr>\n
Index<\/td>\nMean Current Yield (at bid)<\/td>\nMean YTW<\/td>\nMean Average Trading Value<\/td>\nMean Mod Dur (YTW)<\/td>\nIssues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n5.24%<\/td>\n5.28%<\/td>\n30,633<\/td>\n15.12<\/td>\n2<\/td>\n0.0000%<\/td>\n1,089.0<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.82%<\/td>\n5.43%<\/td>\n62,485<\/td>\n14.98<\/td>\n8<\/td>\n-0.4081%<\/td>\n1,034.3<\/td>\n<\/tr>\n
Floater<\/td>\n4.97%<\/td>\n5.00%<\/td>\n75,931<\/td>\n15.55<\/td>\n2<\/td>\n-0.6667%<\/td>\n838.2<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.85%<\/td>\n4.19%<\/td>\n80,374<\/td>\n3.34<\/td>\n15<\/td>\n+0.0590%<\/td>\n1,047.0<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.40%<\/td>\n6.04%<\/td>\n93,280<\/td>\n4.10<\/td>\n14<\/td>\n+0.1961%<\/td>\n1,024.2<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.20%<\/td>\n6.17%<\/td>\n66,061<\/td>\n3.91<\/td>\n3<\/td>\n-0.2021%<\/td>\n1,092.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.92%<\/td>\n5.64%<\/td>\n225,675<\/td>\n4.31<\/td>\n7<\/td>\n-0.2707%<\/td>\n1,014.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.70%<\/td>\n5.73%<\/td>\n274,855<\/td>\n14.11<\/td>\n62<\/td>\n-0.0942%<\/td>\n912.4<\/td>\n<\/tr>\n<\/table>\n<\/div>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BCE.PR.I<\/td>\nFixFloat<\/td>\n-4.1667%<\/td>\n <\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetualDiscount<\/td>\n-2.1963%<\/td>\nNow with a pre-tax bid-YTW of 5.85% based on a bid of 21.82 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
CL.PR.B<\/td>\nPerpetualPremium<\/td>\n-1.7334%<\/td>\nNow with a pre-tax bid-YTW of 5.51% based on a bid of 25.51 and a call 2011-1-30 at 25.00.<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetualDiscount<\/td>\n-1.5583%<\/td>\nNow with a pre-tax bid-YTW of 5.62% based on a bid of 22.11 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.A<\/td>\nPerpetualDiscount<\/td>\n-1.4146%<\/td>\nNow with a pre-tax bid-YTW of 5.59% based on a bid of 20.21 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nOpRet<\/td>\n-1.4014%<\/td>\nNow with a pre-tax bid-YTW of 5.68% based on a bid of 21.81 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetualDiscount<\/td>\n-1.3941%<\/td>\nNow with a pre-tax bid-YTW of 6.51% based on a bid of 18.39 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-1.3333%<\/td>\n <\/td>\n<\/tr>\n
TCA.PR.X<\/td>\nPerpetualDiscount<\/td>\n-1.1418%<\/td>\nNow with a pre-tax bid-YTW of 5.59% based on a bid of 49.35 and a limitMaturity.<\/td>\n<\/tr>\n
HSB.PR.C<\/td>\nPerpetualDiscount<\/td>\n-1.0596%<\/td>\nNow with a pre-tax bid-YTW of 5.72% based on a bid of 22.41 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualDiscount<\/td>\n+1.0907%<\/td>\nNow with a pre-tax bid-YTW of 5.90% based on a bid of 20.39 and a limitMaturity.<\/td>\n<\/tr>\n
PIC.PR.A<\/td>\nSplitShare<\/td>\n+1.2916%<\/td>\nAsset coverage of just under 1.5:1 as of March 27, according to Mulvihill<\/a>. Now with a pre-tax bid-YTW of 6.50% based on a bid of 14.90 and a hardMaturity<\/a> 2010-11-1 at 15.00.<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetualDiscount<\/td>\n+1.3829%<\/td>\nNow with a pre-tax bid-YTW of 5.59% based on a bid of 23.46 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n<\/div>\n
\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nVolume<\/td>\nNotes<\/td>\n<\/tr>\n
BMO.PR.L<\/td>\nPerpetualDiscount<\/td>\n264,750<\/td>\nNew issue settled today. Now with a pre-tax bid-YTW of 5.89% based on a bid of 24.75 and a limitMaturity.<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nPerpetualDiscount<\/td>\n216,871<\/td>\nNow with a pre-tax bid-YTW of 5.32% based on a bid of 22.00 and a limitMaturity.<\/td>\n<\/tr>\n
FAL.PR.B<\/td>\nFixFloat<\/td>\n61,920<\/td>\n <\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetualDiscount<\/td>\n32,850<\/td>\nNow with a pre-tax bid-YTW of 5.38% based on a bid of 21.11 and a limitMaturity.<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nPerpetualDiscount<\/td>\n31,010<\/td>\nNow with a pre-tax bid-YTW of 5.62% based on a bid of 20.15 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

There were twelve other index-included $25-pv-equivalent issues trading over 10,000 shares today.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sorry folks! Today’s commentary is greatly abridged … but I did post some commentary on Financial Stability and MAPF Portfolio Composition. Not much price movement in the preferred share market today, and volume eased off. …<\/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-2017","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2017","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=2017"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2017\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}