{"id":208,"date":"2006-10-23T22:20:18","date_gmt":"2006-10-24T02:20:18","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=208"},"modified":"2006-10-23T22:20:18","modified_gmt":"2006-10-24T02:20:18","slug":"october-23-2006","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=208","title":{"rendered":"October 23, 2006"},"content":{"rendered":"\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<\/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>\n4.12%<\/td>\n4.04%<\/td>\n44,080<\/td>\n10.66<\/td>\n2<\/td>\n0.0000%<\/td>\n1,019.9<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.97%<\/td>\n3.95%<\/td>\n169,309<\/td>\n8.89<\/td>\n7<\/td>\n-0.0387%<\/td>\n1,025.4<\/td>\n<\/tr>\n
Floater<\/td>\n4.53%<\/td>\n-15.87%<\/td>\n75,475<\/td>\n6.50<\/td>\n5<\/td>\n0.2737%<\/td>\n1,020.8<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.67%<\/td>\n1.84%<\/td>\n86,195<\/td>\n2.39<\/td>\n17<\/td>\n0.0329%<\/td>\n1,019.0<\/td>\n<\/tr>\n
Split-Share<\/td>\n4.93%<\/td>\n3.73%<\/td>\n160,544<\/td>\n3.28<\/td>\n11<\/td>\n0.0472%<\/td>\n1,022.8<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.89%<\/td>\n5.02%<\/td>\n56,033<\/td>\n2.00<\/td>\n7<\/td>\n0.0450%<\/td>\n1,022.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.08%<\/td>\n3.94%<\/td>\n212,471<\/td>\n4.30<\/td>\n47<\/td>\n0.0305%<\/td>\n1,036.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.58%<\/td>\n4.61%<\/td>\n527,274<\/td>\n16.18<\/td>\n7<\/td>\n-0.0631%<\/td>\n1,035.7<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n+1.4657%<\/td>\nWent ex-dividend today (see Company Website<\/a>, but not only did nobody notice (it closed at 25.56-80 today, compared to 25.44-55 yesterday), but it closed at $26.00 (!) pumped up by an anonymous buy of 2,000 shares at 12:57pm that sailed through several offers … six of them, in fact, ranging from 25.70 to 26.00. Ouch.<\/td>\n<\/tr>\n<\/table>\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
WN.PR.B<\/td>\nOpRet<\/td>\n100,368<\/td>\nDesjardins opened the day’s trading with a cross of 75,000 at $26.60, and closed it with a cross of 25,000 at the same price. Niggardly pre-tax YTW of 2.93% (mind you, reasonable for an operating retractible) based on a call 2009-6-30, one day ahead of retraction.<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nPerpetualPremium<\/td>\n59,400<\/td>\nScotia crossed 58,000 @ 25.50. Not a bad issue, pre-tax YTW 4.68% based on a bid of $25.41 and a call 2014-10-30 at $25.00<\/td>\n<\/tr>\n
NA.PR.L<\/td>\nPerpetualPremium<\/td>\n44,100<\/td>\nScotia crossed 42,800 @ 25.70. What buyer were they acting for? I want to sell them a really good bridge I happen to have won in a lottery! This thing pays $1.2125 and has a pre-tax YTW of 4.42% based on a bid of $25.66 and a call at $25.00 on 2014-6-14. Rated Pfd-1(low) by DBRS<\/a>. Given the coupon, downside protection on interest rate moves is minimal.<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualPremium<\/td>\n43,250<\/td>\nDesjardins crossed 23,400 @ 25.65, then another 15,000 at the same price. Another mystery … this has a pre-tax YTW of 4.41%, based on a closing bid of $25.65 and a call at $25.00 2014-4-29.<\/td>\n<\/tr>\n
RY.PR.B<\/td>\nPerpetualPremium<\/td>\n38,648<\/td>\nThe volume – and the price drop, it returned -0.3497% on the day – may have been due to players making room for the new issue<\/a>. Why not, provided you can trade cheaply? RY.PR.B has a pre-tax YTW of 4.54% based on a closing bid of $25.65 and a call 2015-9-23 at $25.00 … which still makes it better yielding than some of those with higher volume today! This goes ex-dividend tomorrow, Tuesday, October 24, A.D. 2006<\/a>, so be careful!<\/td>\n<\/tr>\n<\/table>\n

There were twenty-five other index-included issues trading over 10,000 shares today.\n<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version Index Mean Current Yield (at bid) Mean YTW Mean Average Trading Value Mean Mod Dur …<\/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-208","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/208","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=208"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/208\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}