{"id":22372,"date":"2013-06-28T21:38:28","date_gmt":"2013-06-29T01:38:28","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22372"},"modified":"2013-06-28T21:38:28","modified_gmt":"2013-06-29T01:38:28","slug":"june-28-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22372","title":{"rendered":"June 28, 2013"},"content":{"rendered":"<p>Nothing happened today.<\/p>\n<p>It was another day of solid, if slowing, recovery for the Canadian preferred share market, with PerpetualPremiums winning 22bp, FixedResets up 15bp and DeemedRetractibles gaining 5bp. There is another lengthy Performance Highlights table, which pales in comparison only to how long it has been in previous weeks. Volume was above average.<\/p>\n<table border='1'>\n<tr>\n<td colspan='8'><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.5603 %<\/td>\n<td>2,579.3<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>4.18 %<\/td>\n<td>3.51 %<\/td>\n<td>45,931<\/td>\n<td>18.26<\/td>\n<td>1<\/td>\n<td>2.4775 %<\/td>\n<td>3,934.5<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>2.72 %<\/td>\n<td>2.88 %<\/td>\n<td>77,857<\/td>\n<td>20.02<\/td>\n<td>4<\/td>\n<td>0.5603 %<\/td>\n<td>2,784.9<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>4.86 %<\/td>\n<td>3.43 %<\/td>\n<td>68,439<\/td>\n<td>0.08<\/td>\n<td>5<\/td>\n<td>-0.0860 %<\/td>\n<td>2,609.9<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.68 %<\/td>\n<td>4.25 %<\/td>\n<td>81,261<\/td>\n<td>3.98<\/td>\n<td>6<\/td>\n<td>0.1930 %<\/td>\n<td>2,960.6<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.0860 %<\/td>\n<td>2,386.5<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.46 %<\/td>\n<td>5.16 %<\/td>\n<td>131,477<\/td>\n<td>14.39<\/td>\n<td>33<\/td>\n<td>0.2245 %<\/td>\n<td>2,273.0<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.50 %<\/td>\n<td>5.55 %<\/td>\n<td>252,898<\/td>\n<td>14.64<\/td>\n<td>5<\/td>\n<td>0.4836 %<\/td>\n<td>2,382.8<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>4.96 %<\/td>\n<td>3.41 %<\/td>\n<td>244,669<\/td>\n<td>3.62<\/td>\n<td>83<\/td>\n<td>0.1535 %<\/td>\n<td>2,479.4<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>5.06 %<\/td>\n<td>4.86 %<\/td>\n<td>177,914<\/td>\n<td>7.06<\/td>\n<td>44<\/td>\n<td>0.0523 %<\/td>\n<td>2,384.2<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>-3.86 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 22.57<br \/>\nEvaluated at bid price : 23.41<br \/>\nBid-YTW : 3.96 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.F<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.95 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.63<br \/>\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.A<\/td>\n<td>FixedReset<\/td>\n<td>-1.25 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2018-09-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.20<br \/>\nBid-YTW : 4.35 %<\/td>\n<\/tr>\n<tr>\n<td>IAG.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>1.33 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2017-06-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.99<br \/>\nBid-YTW : 3.25 %<\/td>\n<\/tr>\n<tr>\n<td>CIU.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>1.42 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 23.14<br \/>\nEvaluated at bid price : 24.35<br \/>\nBid-YTW : 3.21 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>1.46 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.25<br \/>\nBid-YTW : 3.53 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.K<\/td>\n<td>Floater<\/td>\n<td>1.55 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 17.71<br \/>\nEvaluated at bid price : 17.71<br \/>\nBid-YTW : 2.96 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>1.82 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 23.26<br \/>\nEvaluated at bid price : 24.56<br \/>\nBid-YTW : 3.59 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.B<\/td>\n<td>FixedReset<\/td>\n<td>1.98 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 22.82<br \/>\nEvaluated at bid price : 23.15<br \/>\nBid-YTW : 3.35 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.G<\/td>\n<td>FixedFloater<\/td>\n<td>2.48 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 23.00<br \/>\nEvaluated at bid price : 22.75<br \/>\nBid-YTW : 3.51 %<\/td>\n<\/tr>\n<tr>\n<td>TCA.PR.X<\/td>\n<td>Perpetual-Premium<\/td>\n<td>4.95 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2013-10-15<br \/>\nMaturity Price  : 50.00<br \/>\nEvaluated at bid price : 49.85<br \/>\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.S<\/td>\n<td>Perpetual-Premium<\/td>\n<td>80,348<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 23.43<br \/>\nEvaluated at bid price : 23.75<br \/>\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.D<\/td>\n<td>FixedReset<\/td>\n<td>44,803<\/td>\n<td>RBC crossed 25,000 at 25.91.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-06-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.90<br \/>\nBid-YTW : 3.04 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.Y<\/td>\n<td>FixedReset<\/td>\n<td>43,005<\/td>\n<td><a href=\"http:\/\/www.prefblog.com\/?p=22168\">Recent new issue<\/a>.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 23.05<br \/>\nEvaluated at bid price : 24.86<br \/>\nBid-YTW : 4.01 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.I<\/td>\n<td>FixedReset<\/td>\n<td>41,996<\/td>\n<td>National bought 15,000 from Scotia at 25.70.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2017-09-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.63<br \/>\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.F<\/td>\n<td>FixedReset<\/td>\n<td>36,507<\/td>\n<td>TD crossed 24,900 at 25.00.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2018-06-01<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.00<br \/>\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.D<\/td>\n<td>Deemed-Retractible<\/td>\n<td>20,003<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.26<br \/>\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 38 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='3'><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 23.41 &#8211; 24.27<br \/>\nSpot Rate  :  0.8600<br \/>\nAverage  :  0.5617<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 22.57<br \/>\nEvaluated at bid price : 23.41<br \/>\nBid-YTW : 3.96 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.F<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 24.63 &#8211; 25.34<br \/>\nSpot Rate  :  0.7100<br \/>\nAverage  :  0.4644<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.63<br \/>\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.G<\/td>\n<td>Perpetual-Premium<\/td>\n<td>Quote: 22.15 &#8211; 22.79<br \/>\nSpot Rate  :  0.6400<br \/>\nAverage  :  0.4113<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 21.82<br \/>\nEvaluated at bid price : 22.15<br \/>\nBid-YTW : 5.13 %<\/td>\n<\/tr>\n<tr>\n<td>CIU.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 24.35 &#8211; 25.00<br \/>\nSpot Rate  :  0.6500<br \/>\nAverage  :  0.5067<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-28<br \/>\nMaturity Price  : 23.14<br \/>\nEvaluated at bid price : 24.35<br \/>\nBid-YTW : 3.21 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.O<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 26.10 &#8211; 26.49<br \/>\nSpot Rate  :  0.3900<br \/>\nAverage  :  0.2496<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-05-25<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.10<br \/>\nBid-YTW : 2.22 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.K<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 25.04 &#8211; 25.47<br \/>\nSpot Rate  :  0.4300<br \/>\nAverage  :  0.3134<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-04-28<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.04<br \/>\nBid-YTW : 4.06 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Nothing happened today. It was another day of solid, if slowing, recovery for the Canadian preferred share market, with PerpetualPremiums winning 22bp, FixedResets up 15bp and DeemedRetractibles gaining 5bp. There is another lengthy Performance Highlights &hellip;<\/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-22372","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22372","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=22372"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22372\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}