{"id":20914,"date":"2013-01-19T01:10:11","date_gmt":"2013-01-19T05:10:11","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=20914"},"modified":"2013-01-19T01:10:11","modified_gmt":"2013-01-19T05:10:11","slug":"january-18-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=20914","title":{"rendered":"January 18, 2013"},"content":{"rendered":"

Nothing happened today.<\/p>\n

It was another mixed day for the Canadian preferred share market, with PerpetualPremiums gaining 4bp, FixedResets dropping 19bp and DeemedRetractibles off 7bp. The slightly-longer-than-average Performance Highlights table is comprised entirely of FixedReset losers. Volume was enormous.<\/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>\n0.3178 %<\/td>\n2,509.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.36 %<\/td>\n3.67 %<\/td>\n28,067<\/td>\n18.04<\/td>\n1<\/td>\n0.5076 %<\/td>\n3,728.6<\/td>\n<\/tr>\n
Floater<\/td>\n2.77 %<\/td>\n3.00 %<\/td>\n63,064<\/td>\n19.72<\/td>\n4<\/td>\n0.3178 %<\/td>\n2,710.1<\/td>\n<\/tr>\n
OpRet<\/td>\n4.64 %<\/td>\n0.87 %<\/td>\n52,721<\/td>\n0.37<\/td>\n4<\/td>\n-0.0860 %<\/td>\n2,590.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.59 %<\/td>\n4.54 %<\/td>\n44,243<\/td>\n4.32<\/td>\n2<\/td>\n-0.1195 %<\/td>\n2,904.8<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0860 %<\/td>\n2,369.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.25 %<\/td>\n-1.32 %<\/td>\n77,542<\/td>\n0.12<\/td>\n30<\/td>\n0.0374 %<\/td>\n2,346.6<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.85 %<\/td>\n4.89 %<\/td>\n135,267<\/td>\n15.65<\/td>\n4<\/td>\n-0.0305 %<\/td>\n2,645.5<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.92 %<\/td>\n2.90 %<\/td>\n228,587<\/td>\n3.59<\/td>\n78<\/td>\n-0.1865 %<\/td>\n2,475.9<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.87 %<\/td>\n3.21 %<\/td>\n122,205<\/td>\n0.34<\/td>\n45<\/td>\n-0.0714 %<\/td>\n2,426.8<\/td>\n<\/tr>\n<\/table>\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
FTS.PR.H<\/td>\nFixedReset<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-18
\nMaturity Price : 23.67
\nEvaluated at bid price : 25.51
\nBid-YTW : 2.88 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.01
\nBid-YTW : 3.34 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset<\/td>\n-1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.62
\nBid-YTW : 3.67 %<\/td>\n<\/tr>\n
GWO.PR.J<\/td>\nFixedReset<\/td>\n-1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.75
\nBid-YTW : 3.11 %<\/td>\n<\/tr>\n
MFC.PR.E<\/td>\nFixedReset<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-09-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.17
\nBid-YTW : 3.01 %<\/td>\n<\/tr>\n<\/table>\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
ENB.PR.T<\/td>\nFixedReset<\/td>\n338,175<\/td>\nAdded to TXPR<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.43
\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset<\/td>\n272,297<\/td>\nAdded to both TXPR and TXPL<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.85
\nBid-YTW : 3.40 %<\/td>\n<\/tr>\n
BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\n196,649<\/td>\nAdded to TXPR<\/a>.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-18
\nMaturity Price : 24.59
\nEvaluated at bid price : 24.98
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n
NA.PR.Q<\/td>\nFixedReset<\/td>\n192,222<\/td>\nAdded to TXPR and TXPL<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-11-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.40
\nBid-YTW : 2.51 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\n187,985<\/td>\nAdded to TXPR<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.60
\nBid-YTW : 4.53 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n184,462<\/td>\nNesbitt crossed 100,000 at 17.55; RBC crossed blocks of 49,700 and 12,700 at the same price.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-18
\nMaturity Price : 17.55
\nEvaluated at bid price : 17.55
\nBid-YTW : 3.01 %<\/td>\n<\/tr>\n
RY.PR.X<\/td>\nFixedReset<\/td>\n176,890<\/td>\nScotia crossed blocks of 85,100 and 69,500 at 26.93 and bought 15,400 from RBC at 26.92.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.88
\nBid-YTW : 2.07 %<\/td>\n<\/tr>\n
NA.PR.L<\/td>\nDeemed-Retractible<\/td>\n155,878<\/td>\nNational crossed 25,000 at 25.50; Scotia crossed 40,000 at the same price; TD crossed 40,000 at the same price; and Nesbitt crossed 40,000 at the same price again. Hmmm … I wonder if a large manager was allocating one large internal cross?
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-05-15
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.47
\nBid-YTW : 0.93 %<\/td>\n<\/tr>\n
FTS.PR.J<\/td>\nPerpetual-Premium<\/td>\n109,247<\/td>\nAdded to TXPR<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.91
\nBid-YTW : 4.39 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset<\/td>\n103,374<\/td>\nNational crossed two blocks of 50,000 each, both at 26.40.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.25
\nBid-YTW : 3.15 %<\/td>\n<\/tr>\n
There were 82 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
CU.PR.C<\/td>\nFixedReset<\/td>\nQuote: 26.41 – 27.00
\nSpot Rate : 0.5900
\nAverage : 0.4316<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.41
\nBid-YTW : 2.77 %<\/td>\n<\/tr>\n

FTS.PR.E<\/td>\nOpRet<\/td>\nQuote: 26.58 – 27.00
\nSpot Rate : 0.4200
\nAverage : 0.3052<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-06-01
\nMaturity Price : 25.75
\nEvaluated at bid price : 26.58
\nBid-YTW : -2.22 %<\/td>\n<\/tr>\n

GWO.PR.Q<\/td>\nDeemed-Retractible<\/td>\nQuote: 26.14 – 26.47
\nSpot Rate : 0.3300
\nAverage : 0.2270<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.14
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n

PWF.PR.M<\/td>\nFixedReset<\/td>\nQuote: 25.80 – 26.15
\nSpot Rate : 0.3500
\nAverage : 0.2498<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.80
\nBid-YTW : 2.65 %<\/td>\n<\/tr>\n

FTS.PR.H<\/td>\nFixedReset<\/td>\nQuote: 25.51 – 25.83
\nSpot Rate : 0.3200
\nAverage : 0.2203<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-01-18
\nMaturity Price : 23.67
\nEvaluated at bid price : 25.51
\nBid-YTW : 2.88 %<\/td>\n<\/tr>\n

TD.PR.I<\/td>\nFixedReset<\/td>\nQuote: 26.46 – 26.77
\nSpot Rate : 0.3100
\nAverage : 0.2219<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.46
\nBid-YTW : 2.23 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today. It was another mixed day for the Canadian preferred share market, with PerpetualPremiums gaining 4bp, FixedResets dropping 19bp and DeemedRetractibles off 7bp. The slightly-longer-than-average Performance Highlights table is comprised entirely of FixedReset …<\/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-20914","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20914","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=20914"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20914\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}