{"id":20824,"date":"2013-01-15T00:36:46","date_gmt":"2013-01-15T04:36:46","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=20824"},"modified":"2013-01-15T00:36:46","modified_gmt":"2013-01-15T04:36:46","slug":"january-14-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=20824","title":{"rendered":"January 14, 2013"},"content":{"rendered":"

BCE is reducing its interest expense<\/a>:<\/p>\n

Bell Canada today announced that it will redeem on February 11, 2013, prior to maturity, all of its outstanding $149,641,000 principal amount of 10% Debentures, Series EA, due June 15, 2014 (“Series EA Debentures”).<\/p>\n

The Series EA Debentures will be redeemed at a price equal to $1,113.389 per $1,000 of principal amount of debentures plus $15.890 for accrued and unpaid interest up to, but excluding, the date of redemption.<\/p><\/blockquote>\n

It may be that my worst fears regarding Greece<\/a> are getting closer to being realized:<\/p>\n

A spate of violent attacks against the homes and offices of public figures has hit Greece as the economy goes into its sixth year of deep recession, apparently nurturing extremist groups on both sides of the political spectrum.<\/p>\n

Early Monday morning, a gunman with a Kalashnikov assault rifle sprayed bullets into the Athens headquarters of Greece\u2019s ruling, centre-right New Democracy party. At least one of the bullets went through the window of the office occasionally used by Prime Minister Antonis Samaras, who is implementing harsh austerity in exchange for bailout loans.<\/p><\/blockquote>\n

…and…<\/a>:<\/p>\n

A group of illegal immigrants was justified in escaping from a police lockup last year because of the miserable conditions in their overcrowded cell, which was filthy, ridden with disease and had no running water, a Greek court has ruled.<\/p>\n

The court in the northwestern city of Igoumenitsa said the 15 adults \u2013 from Afghanistan, Iraq, Syria, Egypt and Morocco \u2013 had been held for up to six weeks in \u201cwretched and highly dangerous\u201d conditions.<\/p><\/blockquote>\n

There’s a story about a Saudi farmer who, we are told, should serve as an inspiration to us all<\/a>:<\/p>\n

The herd is one of hundreds owned by Almarai Co. (ALMARAI), the biggest food producer in the Persian Gulf, which processed about 235 million gallons of milk in 2012. The Riyadh-based company\u2019s revenue has almost tripled in the past five years to 7.95 billion riyals ($2.12 billion) as demand for its products — milk, cheese, processed chicken, baked goods and juices — has surged with the nation\u2019s population. Its shares are up 125 percent since its 2005 initial public offering.<\/p>\n

The gain has made Prince Sultan bin Mohammed bin Saud Al Kabeer, Almarai\u2019s 59-year-old founder and largest individual shareholder, a billionaire. His 28.6 percent stake in the operation, plus other investments, has helped him amass a fortune of at least $2.8 billion, according to the Bloomberg Billionaires Index. He has never appeared on an international wealth ranking.<\/p>\n

\u201cEstablishing a dairy farm in the middle of the desert is not that easy,\u201d said Alaa Ghanem, a senior equity analyst at Audi Saradar Investment Bank in a phone interview from his office in Beirut. Almarai, he said, \u201cis an example for anyone who wants to succeed.\u201d<\/p><\/blockquote>\n

What are the secrets of his success? He used Canadian business techniques! Here’s one<\/a>:<\/p>\n

The subsidy for baby milk will go from SR2 to SR12 per kilogram as part of efforts to reduce the financial burden on public caused by soaring consumer prices.
…<\/b>
Dr. Mansour Al-Kredes, deputy chairman of the agricultural committee at the Riyadh Chamber of Commerce and Industry, proposed the government subsidize agricultural and food products in order to stabilize the market. \u201cWe should have a strategic plan in order to ensure enough food supply, by providing necessary support to farmers,\u201d he explained. \u201cSubsidizing consumer goods will have a positive impact on farmers and will stabilize market prices,\u201d he pointed out.<\/p><\/blockquote>\n

Here’s another<\/a>:<\/p>\n

Critics warn that the high yield of Almarai and other Saudi agricultural ventures carries a hidden cost. Government energy subsidies made possible by Saudi Arabia’s oil profits provide cheap electricity for the kingdom’s industry and agriculture but contribute to soaring domestic energy consumption. Saudi agriculture also draws on the kingdom’s natural aquifers, which are fast running dry.<\/p><\/blockquote>\n

I hope all the young people reading this blog take this to heart and become risk-taking entrepreneurs like Prince Sultan bin Mohammed bin Saud Al Kabeer.<\/p>\n

It was a most interesting day for the Canadian preferred share market with a trading programme at RBC (and, possibly related, at Goldman) roiling the market<\/a>. When the dust settled, PerpetualPremiums dropped 6bp, FixedResets leapt upward by 24bp and DeemedRetractibles got whacked for 55bp. Volatility was enormous and volume was extremely high.<\/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>\n0.0531 %<\/td>\n2,497.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.24 %<\/td>\n3.55 %<\/td>\n29,837<\/td>\n18.27<\/td>\n1<\/td>\n1.1287 %<\/td>\n3,834.7<\/td>\n<\/tr>\n
Floater<\/td>\n2.79 %<\/td>\n3.01 %<\/td>\n61,568<\/td>\n19.71<\/td>\n4<\/td>\n0.0531 %<\/td>\n2,696.5<\/td>\n<\/tr>\n
OpRet<\/td>\n4.63 %<\/td>\n1.96 %<\/td>\n51,736<\/td>\n0.42<\/td>\n4<\/td>\n-0.1716 %<\/td>\n2,594.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.61 %<\/td>\n4.53 %<\/td>\n43,788<\/td>\n4.33<\/td>\n2<\/td>\n-0.0600 %<\/td>\n2,891.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1716 %<\/td>\n2,372.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.26 %<\/td>\n-0.06 %<\/td>\n73,490<\/td>\n0.74<\/td>\n30<\/td>\n-0.0614 %<\/td>\n2,342.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.87 %<\/td>\n4.90 %<\/td>\n138,753<\/td>\n15.58<\/td>\n4<\/td>\n-0.9003 %<\/td>\n2,632.9<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.90 %<\/td>\n2.77 %<\/td>\n213,498<\/td>\n3.44<\/td>\n78<\/td>\n0.2374 %<\/td>\n2,481.9<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.90 %<\/td>\n2.27 %<\/td>\n115,612<\/td>\n0.35<\/td>\n46<\/td>\n-0.5481 %<\/td>\n2,421.0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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
MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\n-2.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.18
\nBid-YTW : 5.03 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset<\/td>\n-2.50 %<\/td>\nNot a real loss. Low for day was 26.28.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.75
\nBid-YTW : 3.92 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nDeemed-Retractible<\/td>\n-2.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.30
\nBid-YTW : 4.94 %<\/td>\n<\/tr>\n
NA.PR.L<\/td>\nDeemed-Retractible<\/td>\n-2.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.98
\nBid-YTW : 4.61 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n-2.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 23.69
\nEvaluated at bid price : 24.20
\nBid-YTW : 4.92 %<\/td>\n<\/tr>\n
BMO.PR.L<\/td>\nDeemed-Retractible<\/td>\n-2.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-05-25
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.55
\nBid-YTW : 1.76 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\n-2.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.23
\nBid-YTW : 4.93 %<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nDeemed-Retractible<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-04-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.49
\nBid-YTW : 3.81 %<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nDeemed-Retractible<\/td>\n-1.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.84
\nBid-YTW : 4.94 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Premium<\/td>\n-1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 24.64
\nEvaluated at bid price : 24.90
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
BMO.PR.Q<\/td>\nFixedReset<\/td>\n-1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.60
\nBid-YTW : 3.46 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Premium<\/td>\n-1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.38
\nBid-YTW : 4.81 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nDeemed-Retractible<\/td>\n-1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.34
\nBid-YTW : 4.86 %<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nDeemed-Retractible<\/td>\n-1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-07-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.62
\nBid-YTW : 3.71 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Premium<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 24.46
\nEvaluated at bid price : 24.86
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n-1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 23.48
\nEvaluated at bid price : 25.30
\nBid-YTW : 3.02 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nDeemed-Retractible<\/td>\n-1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.65
\nBid-YTW : 4.92 %<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nDeemed-Retractible<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.70
\nBid-YTW : 3.77 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n-1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 24.07
\nEvaluated at bid price : 24.37
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n
VNR.PR.A<\/td>\nFixedReset<\/td>\n-1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-10-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.02
\nBid-YTW : 3.43 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.70
\nBid-YTW : 4.97 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 2.86 %<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 22.81
\nEvaluated at bid price : 22.40
\nBid-YTW : 3.55 %<\/td>\n<\/tr>\n
FTS.PR.G<\/td>\nFixedReset<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 24.08
\nEvaluated at bid price : 24.65
\nBid-YTW : 3.70 %<\/td>\n<\/tr>\n
RY.PR.I<\/td>\nFixedReset<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.16
\nBid-YTW : 1.42 %<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.61
\nBid-YTW : 2.59 %<\/td>\n<\/tr>\n
TD.PR.K<\/td>\nFixedReset<\/td>\n1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.02
\nBid-YTW : 0.80 %<\/td>\n<\/tr>\n
ENB.PR.P<\/td>\nFixedReset<\/td>\n1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-03-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.78
\nBid-YTW : 3.54 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.72
\nBid-YTW : 3.13 %<\/td>\n<\/tr>\n
BNS.PR.Q<\/td>\nFixedReset<\/td>\n1.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-10-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.41
\nBid-YTW : 2.58 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n2.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.77
\nBid-YTW : 0.59 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset<\/td>\n2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-09-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.02
\nBid-YTW : 2.64 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Premium<\/td>\n2.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-04-30
\nMaturity Price : 26.00
\nEvaluated at bid price : 27.52
\nBid-YTW : 3.76 %<\/td>\n<\/tr>\n
IAG.PR.G<\/td>\nFixedReset<\/td>\n3.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.21
\nBid-YTW : 2.26 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\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>\n266,018<\/td>\nRBC crossed 129,400 at 25.01.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-04-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.49
\nBid-YTW : 3.81 %<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nDeemed-Retractible<\/td>\n259,933<\/td>\nTD crossed 199,000 at 25.50.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.70
\nBid-YTW : 3.77 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Premium<\/td>\n250,890<\/td>\nTD crossed 49,400 at 25.20. Nesbitt crossed blocks of 38,300 shares, 49,400 and 75,000, all at 24.90.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 24.46
\nEvaluated at bid price : 24.86
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n
ENB.PR.B<\/td>\nFixedReset<\/td>\n202,213<\/td>\nRBC crossed 50,000 at 25.70; Nesbitt crossed blocks of 74,800 and 60,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.55
\nBid-YTW : 3.59 %<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetual-Premium<\/td>\n201,300<\/td>\nNesbitt crossed three blocks: 69,000 shares, 53,400 and 50,000, all at 25.20.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-02-13
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.21
\nBid-YTW : -4.96 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset<\/td>\n191,217<\/td>\nRBC crossed blocks of 169,900 and 10,000, both at 23.25.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.15
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Premium<\/td>\n155,023<\/td>\nRBC crossed 57,900 at 27.99.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-04-30
\nMaturity Price : 26.00
\nEvaluated at bid price : 27.52
\nBid-YTW : 3.76 %<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nDeemed-Retractible<\/td>\n148,993<\/td>\nRBC crossed 70,000 at 25.95.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-07-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.62
\nBid-YTW : 3.71 %<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset<\/td>\n141,924<\/td>\nRBC crossed 121,600 at 27.68.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.61
\nBid-YTW : 2.59 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n131,540<\/td>\nRBC crossed blocks of 35,800 and 27,500, both at 25.90.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 2.86 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Premium<\/td>\n130,021<\/td>\nRBC crossed 66,200 at 24.50.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 24.64
\nEvaluated at bid price : 24.90
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
RY.PR.X<\/td>\nFixedReset<\/td>\n124,636<\/td>\nRBC crossed blocks of 89,500 and 18,400, both at 27.15.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.88
\nBid-YTW : 2.06 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset<\/td>\n114,478<\/td>\nTD crossed blocks of 25,800 and 15,000 at 24.73. RBC crossed 48,500 at 24.70.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.73
\nBid-YTW : 3.26 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n101,831<\/td>\nRBC crossed 40,000 at 26.35 and 23,000 at 27.10. Is this a new record for price difference between preferred share block trades?
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.77
\nBid-YTW : 0.59 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\n101,287<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.70
\nBid-YTW : 4.97 %<\/td>\n<\/tr>\n
There were 50 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
MFC.PR.H<\/td>\nFixedReset<\/td>\nQuote: 25.75 – 26.50
\nSpot Rate : 0.7500
\nAverage : 0.4797<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.75
\nBid-YTW : 3.92 %<\/td>\n<\/tr>\n

FTS.PR.H<\/td>\nFixedReset<\/td>\nQuote: 25.50 – 26.03
\nSpot Rate : 0.5300
\nAverage : 0.3314<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-14
\nMaturity Price : 23.66
\nEvaluated at bid price : 25.50
\nBid-YTW : 2.88 %<\/td>\n<\/tr>\n

VNR.PR.A<\/td>\nFixedReset<\/td>\nQuote: 26.02 – 26.38
\nSpot Rate : 0.3600
\nAverage : 0.2270<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-10-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.02
\nBid-YTW : 3.43 %<\/td>\n<\/tr>\n

SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\nQuote: 24.23 – 24.56
\nSpot Rate : 0.3300
\nAverage : 0.2003<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.23
\nBid-YTW : 4.93 %<\/td>\n<\/tr>\n

SLF.PR.I<\/td>\nFixedReset<\/td>\nQuote: 26.61 – 26.99
\nSpot Rate : 0.3800
\nAverage : 0.2581<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.61
\nBid-YTW : 2.59 %<\/td>\n<\/tr>\n

PWF.PR.O<\/td>\nPerpetual-Premium<\/td>\nQuote: 26.47 – 26.85
\nSpot Rate : 0.3800
\nAverage : 0.2694<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-10-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.47
\nBid-YTW : 4.40 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

BCE is reducing its interest expense: Bell Canada today announced that it will redeem on February 11, 2013, prior to maturity, all of its outstanding $149,641,000 principal amount of 10% Debentures, Series EA, due June …<\/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-20824","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20824","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=20824"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20824\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}