{"id":223,"date":"2006-10-25T21:14:08","date_gmt":"2006-10-26T01:14:08","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=223"},"modified":"2006-10-25T21:14:08","modified_gmt":"2006-10-26T01:14:08","slug":"october-25-2006","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=223","title":{"rendered":"October 25, 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>\n4.11%<\/td>\n4.03%<\/td>\n43,821<\/td>\n10.66<\/td>\n2<\/td>\n0.0598%<\/td>\n1,019.7<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.96%<\/td>\n3.16%<\/td>\n162,573<\/td>\n6.49<\/td>\n7<\/td>\n-0.0165%<\/td>\n1,026.6<\/td>\n<\/tr>\n
Floater<\/td>\n4.53%<\/td>\n-15.02%<\/td>\n74,843<\/td>\n6.49<\/td>\n5<\/td>\n0.0716%<\/td>\n1,019.9<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.68%<\/td>\n2.00%<\/td>\n86,929<\/td>\n2.38<\/td>\n17<\/td>\n0.0422%<\/td>\n1,019.2<\/td>\n<\/tr>\n
Split-Share<\/td>\n4.94%<\/td>\n3.77%<\/td>\n159,387<\/td>\n3.27<\/td>\n11<\/td>\n0.0158%<\/td>\n1,022.3<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.88%<\/td>\n5.15%<\/td>\n56,321<\/td>\n2.00<\/td>\n7<\/td>\n0.1364%<\/td>\n1,024.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.09%<\/td>\n3.94%<\/td>\n211,798<\/td>\n4.26<\/td>\n47<\/td>\n-0.0254%<\/td>\n1,036.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.60%<\/td>\n4.63%<\/td>\n538,163<\/td>\n16.16<\/td>\n7<\/td>\n-0.5466%<\/td>\n1,031.6<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n-2.6369%<\/td>\nThe underwriters are unloading (have unloaded?) their inventory! See SLF.PR.D : Inventory Blow-out Sale!<\/a><\/td>\n<\/tr>\n
MST.PR.A<\/td>\nInterestBearing<\/td>\n+1.1527%<\/td>\nNow has a pre-tax YTW of 4.66%, based on a bid price of $10.53 and a maturity at $10.00 on 2009-9-30. Only 4.66% on three-year paper rated Pfd-2(low) by DBRS<\/a>? That’s getting close to what you can do in the regular bond market … commissions and spreads become very important!<\/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
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n666,550<\/td>\nHuge day! See SLF.PR.D : Inventory Blow-out Sale!<\/a><\/td>\n<\/tr>\n
CM.PR.A<\/td>\nOperatingRetractible<\/td>\n304,950<\/td>\nScotia crossed 200,000 @ 26.78, then Desjardins crossed 100,000 at the same price. Pre-tax YTW of 2.01% based on a closing bid of $26.62 and a call 2007-11-30 … realized yield will have been 3.82% if it survives until its softMaturity<\/a> 2011-7-30.<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetualPremium<\/td>\n258,170<\/td>\nScotia crossed 230,000 @ $26.12, then 22,000 at the same price. YTW is 4.15% based on a call 2014-03-26. This was also a big trader yesterday<\/a>.<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetualPremium<\/td>\n132,550<\/td>\nScotia bought a total of 49,800 in six tranches from National just before the close, mostly at $25.50. Presumably a lot of the activity here was related to the SLF.PR.D : Inventory Blow-out Sale!<\/a><\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nPerpetualDiscount<\/td>\n79,511<\/td>\nThis issue is virtually identical to the SLF.PR.D, but the closing bid was $0.27 higher. Such is the pref market.<\/td>\n<\/tr>\n<\/table>\n

There were fourteen other index-included issues trading over 10,000 shares today.<\/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-223","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/223","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=223"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/223\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}