{"id":22078,"date":"2013-05-28T20:11:06","date_gmt":"2013-05-29T00:11:06","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22078"},"modified":"2013-05-28T20:11:06","modified_gmt":"2013-05-29T00:11:06","slug":"may-28-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22078","title":{"rendered":"May 28, 2013"},"content":{"rendered":"

Great news! The Ontario Securities Commission is poised to use its awesome power for some good old-fashioned top-down social engineering<\/a>:<\/p>\n

Ontario is crafting new rules requiring public companies to set targets for the number of women in senior roles, a move with national implications that could reverse Canada\u2019s decline in global standings for gender diversity in the corporate world.<\/p>\n

Laurel Broten, Ontario\u2019s minister responsible for women\u2019s issues, revealed in an interview that the provincial government is working with the Ontario Securities Commission on ways to compel companies to set goals for boosting the number of women sitting as corporate directors, as well as in senior management.<\/p><\/blockquote>\n

It was a distinctly negative day for the Canadian preferred share market, with PerpetualPremiums down 9bp, FixedResets losing 15bp and DeemedRetractibles off 5bp. A distinct tilt in the Performance Highlights table towards losing FixedResets was lead by ENB issues, which are experiencing competitition from an attractive new issue<\/a>. Volume was 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>\n0.8144 %<\/td>\n2,543.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n3.92 %<\/td>\n3.15 %<\/td>\n35,120<\/td>\n18.76<\/td>\n1<\/td>\n-1.3821 %<\/td>\n4,195.7<\/td>\n<\/tr>\n
Floater<\/td>\n2.74 %<\/td>\n2.99 %<\/td>\n75,415<\/td>\n19.70<\/td>\n4<\/td>\n0.8144 %<\/td>\n2,746.1<\/td>\n<\/tr>\n
OpRet<\/td>\n4.82 %<\/td>\n0.94 %<\/td>\n68,236<\/td>\n0.10<\/td>\n5<\/td>\n0.0932 %<\/td>\n2,616.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.80 %<\/td>\n3.98 %<\/td>\n101,017<\/td>\n4.07<\/td>\n5<\/td>\n0.0550 %<\/td>\n2,990.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0932 %<\/td>\n2,392.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.19 %<\/td>\n3.61 %<\/td>\n95,040<\/td>\n0.75<\/td>\n32<\/td>\n-0.0903 %<\/td>\n2,380.6<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.86 %<\/td>\n4.92 %<\/td>\n195,477<\/td>\n15.55<\/td>\n4<\/td>\n-0.3648 %<\/td>\n2,679.3<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.88 %<\/td>\n2.70 %<\/td>\n248,056<\/td>\n3.10<\/td>\n81<\/td>\n-0.1536 %<\/td>\n2,519.5<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.87 %<\/td>\n3.45 %<\/td>\n132,186<\/td>\n0.73<\/td>\n44<\/td>\n-0.0485 %<\/td>\n2,463.7<\/td>\n<\/tr>\n<\/table>\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
HSE.PR.A<\/td>\nFixedReset<\/td>\n-1.89 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-28
\nMaturity Price : 23.57
\nEvaluated at bid price : 25.50
\nBid-YTW : 3.05 %<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-28
\nMaturity Price : 23.07
\nEvaluated at bid price : 24.26
\nBid-YTW : 3.15 %<\/td>\n<\/tr>\n
ENB.PR.H<\/td>\nFixedReset<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-28
\nMaturity Price : 23.26
\nEvaluated at bid price : 25.35
\nBid-YTW : 3.37 %<\/td>\n<\/tr>\n
ENB.PR.T<\/td>\nFixedReset<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-28
\nMaturity Price : 23.25
\nEvaluated at bid price : 25.44
\nBid-YTW : 3.65 %<\/td>\n<\/tr>\n
ENB.PR.P<\/td>\nFixedReset<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-28
\nMaturity Price : 23.26
\nEvaluated at bid price : 25.44
\nBid-YTW : 3.65 %<\/td>\n<\/tr>\n
ENB.PR.D<\/td>\nFixedReset<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-28
\nMaturity Price : 23.34
\nEvaluated at bid price : 25.51
\nBid-YTW : 3.53 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.94
\nBid-YTW : 3.62 %<\/td>\n<\/tr>\n
TRI.PR.B<\/td>\nFloater<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-28
\nMaturity Price : 23.48
\nEvaluated at bid price : 23.75
\nBid-YTW : 2.20 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset<\/td>\n1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 2.92 %<\/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
BAM.PR.O<\/td>\nOpRet<\/td>\n197,490<\/td>\nNesbitt crossed blocks of 91,200 and 100,000, both at 25.27.
\nYTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2013-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.27
\nBid-YTW : 1.67 %<\/td>\n<\/tr>\n
HSB.PR.E<\/td>\nFixedReset<\/td>\n131,695<\/td>\nRBC crossed blocks of 64,300 and 50,000, both at 26.50.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.47
\nBid-YTW : 2.10 %<\/td>\n<\/tr>\n
RY.PR.X<\/td>\nFixedReset<\/td>\n111,336<\/td>\nTD crossed 99,300 at 26.25.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.23
\nBid-YTW : 2.28 %<\/td>\n<\/tr>\n
ENB.PR.T<\/td>\nFixedReset<\/td>\n99,570<\/td>\nRBC bought 12,000 from Scotia at 25.44.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-05-28
\nMaturity Price : 23.25
\nEvaluated at bid price : 25.44
\nBid-YTW : 3.65 %<\/td>\n<\/tr>\n
ENB.PR.B<\/td>\nFixedReset<\/td>\n70,302<\/td>\nNesbitt bought 10,000 from RBC at 25.40.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.51
\nBid-YTW : 3.46 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nDeemed-Retractible<\/td>\n69,596<\/td>\nScotia sold 24,300 to National at 26.33, then crossed 35,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.30
\nBid-YTW : 4.54 %<\/td>\n<\/tr>\n
There were 43 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.G<\/td>\nFixedReset<\/td>\nQuote: 26.16 – 26.70
\nSpot Rate : 0.5400
\nAverage : 0.4022<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.16
\nBid-YTW : 2.95 %<\/td>\n<\/tr>\n

CU.PR.E<\/td>\nPerpetual-Premium<\/td>\nQuote: 26.35 – 26.64
\nSpot Rate : 0.2900
\nAverage : 0.1783<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-09-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.35
\nBid-YTW : 4.14 %<\/td>\n<\/tr>\n

CU.PR.C<\/td>\nFixedReset<\/td>\nQuote: 26.54 – 26.91
\nSpot Rate : 0.3700
\nAverage : 0.2790<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.54
\nBid-YTW : 2.38 %<\/td>\n<\/tr>\n

BAM.PR.R<\/td>\nFixedReset<\/td>\nQuote: 26.74 – 26.97
\nSpot Rate : 0.2300
\nAverage : 0.1459<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.74
\nBid-YTW : 3.32 %<\/td>\n<\/tr>\n

BNS.PR.K<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.40 – 25.61
\nSpot Rate : 0.2100
\nAverage : 0.1339<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-06-27
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.40
\nBid-YTW : 1.95 %<\/td>\n<\/tr>\n

PWF.PR.E<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.61 – 25.82
\nSpot Rate : 0.2100
\nAverage : 0.1427<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-06-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.61
\nBid-YTW : -17.91 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Great news! The Ontario Securities Commission is poised to use its awesome power for some good old-fashioned top-down social engineering: Ontario is crafting new rules requiring public companies to set targets for the number of …<\/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-22078","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22078","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=22078"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22078\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}