{"id":22522,"date":"2013-07-17T02:01:21","date_gmt":"2013-07-17T06:01:21","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22522"},"modified":"2013-07-17T02:01:21","modified_gmt":"2013-07-17T06:01:21","slug":"july-16-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22522","title":{"rendered":"July 16, 2013"},"content":{"rendered":"<p>Nothing happened today.<\/p>\n<p>It was another mixed day for the Canadian preferred share market, with PerpetualDiscounts up 15bp, FixedResets down 9bp and DeemedRetractibles gaining 1bp. Volatility was average &#8211; by long-term standards! &#8211; but comprised entirely of losers. Volume was 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>0.0259 %<\/td>\n<td>2,581.3<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>4.20 %<\/td>\n<td>3.49 %<\/td>\n<td>39,724<\/td>\n<td>18.43<\/td>\n<td>1<\/td>\n<td>0.0000 %<\/td>\n<td>3,952.1<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>2.72 %<\/td>\n<td>2.92 %<\/td>\n<td>89,985<\/td>\n<td>19.95<\/td>\n<td>4<\/td>\n<td>0.0259 %<\/td>\n<td>2,787.1<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>4.61 %<\/td>\n<td>3.29 %<\/td>\n<td>73,721<\/td>\n<td>0.85<\/td>\n<td>3<\/td>\n<td>-0.1023 %<\/td>\n<td>2,617.4<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.67 %<\/td>\n<td>4.50 %<\/td>\n<td>63,775<\/td>\n<td>3.93<\/td>\n<td>6<\/td>\n<td>-0.0132 %<\/td>\n<td>2,971.0<\/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>-0.1023 %<\/td>\n<td>2,393.3<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.59 %<\/td>\n<td>4.17 %<\/td>\n<td>99,112<\/td>\n<td>0.77<\/td>\n<td>12<\/td>\n<td>0.0692 %<\/td>\n<td>2,293.6<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.33 %<\/td>\n<td>5.25 %<\/td>\n<td>138,113<\/td>\n<td>14.81<\/td>\n<td>26<\/td>\n<td>0.1488 %<\/td>\n<td>2,418.0<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>4.96 %<\/td>\n<td>3.46 %<\/td>\n<td>231,600<\/td>\n<td>3.56<\/td>\n<td>83<\/td>\n<td>-0.0918 %<\/td>\n<td>2,483.2<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>5.04 %<\/td>\n<td>4.47 %<\/td>\n<td>186,565<\/td>\n<td>7.00<\/td>\n<td>43<\/td>\n<td>0.0141 %<\/td>\n<td>2,393.7<\/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>CIU.PR.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.62 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-07-16<br \/>\nMaturity Price  : 22.14<br \/>\nEvaluated at bid price : 22.52<br \/>\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>-1.38 %<\/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 : 24.21<br \/>\nBid-YTW : 3.73 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.F<\/td>\n<td>FixedReset<\/td>\n<td>-1.20 %<\/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 : 24.70<br \/>\nBid-YTW : 3.60 %<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.J<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-07-16<br \/>\nMaturity Price  : 23.15<br \/>\nEvaluated at bid price : 23.45<br \/>\nBid-YTW : 5.12 %<\/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>GWO.PR.H<\/td>\n<td>Deemed-Retractible<\/td>\n<td>149,231<\/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 : 23.77<br \/>\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.H<\/td>\n<td>FixedReset<\/td>\n<td>61,540<\/td>\n<td>National crossed 40,000 at 25.15.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2016-09-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.15<br \/>\nBid-YTW : 3.77 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.D<\/td>\n<td>FixedReset<\/td>\n<td>55,933<\/td>\n<td>TD crossed 28,000 at 25.30.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-07-16<br \/>\nMaturity Price  : 23.17<br \/>\nEvaluated at bid price : 25.15<br \/>\nBid-YTW : 3.98 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.Q<\/td>\n<td>Deemed-Retractible<\/td>\n<td>55,660<\/td>\n<td>Scotia crossed 52,800 at 24.75.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.78<br \/>\nBid-YTW : 5.31 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.M<\/td>\n<td>FixedReset<\/td>\n<td>51,675<\/td>\n<td>Nesbitt crossed 50,000 at 26.05.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-07-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.00<br \/>\nBid-YTW : 2.37 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.K<\/td>\n<td>FixedReset<\/td>\n<td>47,363<\/td>\n<td><a href=\"http:\/\/www.prefblog.com\/?p=22304\">Recent new issue<\/a>.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2018-09-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.19<br \/>\nBid-YTW : 3.71 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 35 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>CU.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 23.00 &#8211; 23.24<br \/>\nSpot Rate  :  0.2400<br \/>\nAverage  :  0.1582<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-07-16<br \/>\nMaturity Price  : 22.66<br \/>\nEvaluated at bid price : 23.00<br \/>\nBid-YTW : 4.95 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 22.50 &#8211; 22.79<br \/>\nSpot Rate  :  0.2900<br \/>\nAverage  :  0.2113<\/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 : 22.50<br \/>\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.K<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 25.06 &#8211; 25.29<br \/>\nSpot Rate  :  0.2300<br \/>\nAverage  :  0.1682<\/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 : 25.06<br \/>\nBid-YTW : 4.21 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.F<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 24.70 &#8211; 24.95<br \/>\nSpot Rate  :  0.2500<br \/>\nAverage  :  0.1889<\/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 : 24.70<br \/>\nBid-YTW : 3.60 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.O<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 25.91 &#8211; 26.13<br \/>\nSpot Rate  :  0.2200<br \/>\nAverage  :  0.1603<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-04-28<br \/>\nMaturity Price  : 25.75<br \/>\nEvaluated at bid price : 25.91<br \/>\nBid-YTW : 4.31 %<\/td>\n<\/tr>\n<tr>\n<td>CIU.PR.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 22.52 &#8211; 22.90<br \/>\nSpot Rate  :  0.3800<br \/>\nAverage  :  0.3253<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-07-16<br \/>\nMaturity Price  : 22.14<br \/>\nEvaluated at bid price : 22.52<br \/>\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Nothing happened today. It was another mixed day for the Canadian preferred share market, with PerpetualDiscounts up 15bp, FixedResets down 9bp and DeemedRetractibles gaining 1bp. Volatility was average &#8211; by long-term standards! &#8211; but comprised &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-22522","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22522","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=22522"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22522\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}