{"id":21880,"date":"2013-05-03T02:22:22","date_gmt":"2013-05-03T06:22:22","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=21880"},"modified":"2013-05-03T02:22:22","modified_gmt":"2013-05-03T06:22:22","slug":"may-2-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=21880","title":{"rendered":"May 2, 2013"},"content":{"rendered":"

Lapdog Carney has been replaced<\/a>:<\/p>\n

Finance Minister Jim Flaherty shocked Bay Street Thursday, shunning the obvious choice to follow Mark Carney as governor of the Bank of Canada, and instead naming Stephen Poloz.<\/p><\/blockquote>\n

The top comment<\/a> on the Globe story is:<\/p>\n

Oh, this has all the markings of a power grab by the PMO, who don’t want another strong, independent governor of BoC. Very scary.<\/p><\/blockquote>\n

It was a good day for the Canadian preferred share market, with PerpetualPremiums up 11bp, FixedResets winning 21bp and DeemedRetractibles gaining 3bp. Volatility was minimal. 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>\n0.5850 %<\/td>\n2,620.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n3.94 %<\/td>\n3.16 %<\/td>\n33,424<\/td>\n18.77<\/td>\n1<\/td>\n-0.2070 %<\/td>\n4,168.0<\/td>\n<\/tr>\n
Floater<\/td>\n2.66 %<\/td>\n2.85 %<\/td>\n84,654<\/td>\n20.08<\/td>\n4<\/td>\n0.5850 %<\/td>\n2,829.9<\/td>\n<\/tr>\n
OpRet<\/td>\n4.80 %<\/td>\n0.24 %<\/td>\n59,114<\/td>\n0.13<\/td>\n5<\/td>\n-0.0771 %<\/td>\n2,612.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.79 %<\/td>\n4.16 %<\/td>\n114,306<\/td>\n4.09<\/td>\n5<\/td>\n0.5347 %<\/td>\n2,964.9<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0771 %<\/td>\n2,388.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.20 %<\/td>\n3.02 %<\/td>\n87,707<\/td>\n0.45<\/td>\n31<\/td>\n0.1149 %<\/td>\n2,383.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.84 %<\/td>\n4.87 %<\/td>\n181,941<\/td>\n15.68<\/td>\n4<\/td>\n0.0914 %<\/td>\n2,686.2<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.87 %<\/td>\n2.69 %<\/td>\n244,041<\/td>\n3.74<\/td>\n81<\/td>\n0.2103 %<\/td>\n2,516.5<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.87 %<\/td>\n3.34 %<\/td>\n131,463<\/td>\n0.88<\/td>\n44<\/td>\n0.0309 %<\/td>\n2,458.4<\/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.C<\/td>\nFloater<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-02
\nMaturity Price : 18.34
\nEvaluated at bid price : 18.34
\nBid-YTW : 2.88 %<\/td>\n<\/tr>\n
BNA.PR.C<\/td>\nSplitShare<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2019-01-10
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.09
\nBid-YTW : 4.43 %<\/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
BNS.PR.A<\/td>\nFixedReset<\/td>\n144,330<\/td>\nRecently exchanged issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-06-01
\nMaturity Price : 25.50
\nEvaluated at bid price : 25.67
\nBid-YTW : -6.45 %<\/td>\n<\/tr>\n
MFC.PR.D<\/td>\nFixedReset<\/td>\n101,183<\/td>\nDesjardins crossed 85,000 at 26.35.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.35
\nBid-YTW : 2.47 %<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetual-Premium<\/td>\n61,965<\/td>\nDesjardins crossed 60,000 at 25.75.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.69
\nBid-YTW : -25.28 %<\/td>\n<\/tr>\n
TD.PR.C<\/td>\nFixedReset<\/td>\n44,396<\/td>\nTD crossed blocks of 20,000 and 19,900, both at 25.80.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.66
\nBid-YTW : 2.07 %<\/td>\n<\/tr>\n
HSB.PR.E<\/td>\nFixedReset<\/td>\n35,387<\/td>\nScotia bought 29,300 from Desjardins at 26.39.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.42
\nBid-YTW : 2.13 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset<\/td>\n31,084<\/td>\nTD crossed 15,000 at 26.47; Nesbitt crossed 10,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-09-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.49
\nBid-YTW : 3.08 %<\/td>\n<\/tr>\n
There were 19 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
RY.PR.L<\/td>\nFixedReset<\/td>\nQuote: 25.61 – 26.10
\nSpot Rate : 0.4900
\nAverage : 0.3010<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.61
\nBid-YTW : 2.14 %<\/td>\n<\/tr>\n

FTS.PR.H<\/td>\nFixedReset<\/td>\nQuote: 25.62 – 25.89
\nSpot Rate : 0.2700
\nAverage : 0.1749<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-02
\nMaturity Price : 23.77
\nEvaluated at bid price : 25.62
\nBid-YTW : 2.53 %<\/td>\n<\/tr>\n

CIU.PR.C<\/td>\nFixedReset<\/td>\nQuote: 25.01 – 25.44
\nSpot Rate : 0.4300
\nAverage : 0.3520<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-02
\nMaturity Price : 23.37
\nEvaluated at bid price : 25.01
\nBid-YTW : 2.55 %<\/td>\n<\/tr>\n

TCA.PR.Y<\/td>\nPerpetual-Premium<\/td>\nQuote: 51.01 – 51.40
\nSpot Rate : 0.3900
\nAverage : 0.3121<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-05
\nMaturity Price : 50.00
\nEvaluated at bid price : 51.01
\nBid-YTW : 3.15 %<\/td>\n<\/tr>\n

RY.PR.Y<\/td>\nFixedReset<\/td>\nQuote: 26.41 – 26.65
\nSpot Rate : 0.2400
\nAverage : 0.1628<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-11-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.41
\nBid-YTW : 2.18 %<\/td>\n<\/tr>\n

W.PR.H<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.55 – 25.84
\nSpot Rate : 0.2900
\nAverage : 0.2251<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.55
\nBid-YTW : -17.13 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Lapdog Carney has been replaced: Finance Minister Jim Flaherty shocked Bay Street Thursday, shunning the obvious choice to follow Mark Carney as governor of the Bank of Canada, and instead naming Stephen Poloz. The top …<\/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-21880","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/21880","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=21880"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/21880\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}