{"id":2258,"date":"2008-06-12T20:53:33","date_gmt":"2008-06-13T00:53:33","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2258"},"modified":"2008-06-12T20:53:33","modified_gmt":"2008-06-13T00:53:33","slug":"june-12-2008","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2258","title":{"rendered":"June 12, 2008"},"content":{"rendered":"

Sorry about the terse nature of these posts, folks.<\/p>\n

Another poor day for preferreds, as been previously mentioned<\/a>; SunLife issues were yet again among the badly hurt.<\/p>\n

\n\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. In this version, index values are based at 1,000.0 on 2006-6-30<\/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>\n4.14%<\/td>\n3.86%<\/td>\n51,724<\/td>\n0.08<\/td>\n1<\/td>\n+0.1182%<\/td>\n1,114.1<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.91%<\/td>\n4.66%<\/td>\n60,289<\/td>\n16.07<\/td>\n7<\/td>\n-0.1649%<\/td>\n1,018.8<\/td>\n<\/tr>\n
Floater<\/td>\n4.09%<\/td>\n4.09%<\/td>\n66,219<\/td>\n17.27<\/td>\n2<\/td>\n-1.1024%<\/td>\n936.2<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.84%<\/td>\n2.38%<\/td>\n85,736<\/td>\n2.64<\/td>\n15<\/td>\n-0.0515%<\/td>\n1,056.9<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.30%<\/td>\n5.58%<\/td>\n70,137<\/td>\n4.18<\/td>\n15<\/td>\n-0.0270%<\/td>\n1,050.4<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.09%<\/td>\n6.02%<\/td>\n47,164<\/td>\n3.78<\/td>\n3<\/td>\n-0.1657%<\/td>\n1,118.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.87%<\/td>\n4.98%<\/td>\n392,934<\/td>\n9.66<\/td>\n13<\/td>\n-0.1853%<\/td>\n1,021.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.79%<\/td>\n5.85%<\/td>\n223,111<\/td>\n14.11<\/td>\n59<\/td>\n-0.4364%<\/td>\n906.5<\/td>\n<\/tr>\n<\/table>\n<\/div>\n
\n\n\n\n\n\n\n\n\n\n\n\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
ELF.PR.G<\/td>\nPerpetualDiscount<\/td>\n-2.4763%<\/td>\nNow with a pre-tax bid-YTW of 6.54% based on a bid of 18.51 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-2.3810%<\/td>\nCatching up from yesterday.<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nPerpetualDiscount<\/td>\n-2.2477%<\/td>\nNow with a pre-tax bid-YTW of 5.71% based on a bid of 21.31 and a limitMaturity.<\/td>\n<\/tr>\n
HSB.PR.D<\/td>\nPerpetualDiscount<\/td>\n-1.9535%<\/td>\nNow with a pre-tax bid-YTW of 5.95% based on a bid of 21.08 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nPerpetualDiscount<\/td>\n-1.9370%<\/td>\nNow with a pre-tax bid-YTW of 5.89% based on a bid of 20.25 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.F<\/td>\nPerpetualDiscount<\/td>\n-1.7535%<\/td>\nNow with a pre-tax bid-YTW of 5.73% based on a bid of 19.61 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetualDiscount<\/td>\n-1.7299%<\/td>\nNow with a pre-tax bid-YTW of 6.77% based on a bid of 17.61 and a limitMaturity.<\/td>\n<\/tr>\n
BNA.PR.C<\/td>\nSplitShare<\/td>\n-1.6585%<\/td>\nAsset coverage of just under 3.6:1 as of May 30 according to the company<\/a>. Now with a pre-tax bid-YTW of 7.02% based on a bid of 20.16 and a hardMaturity<\/a> 2019-1-10. Compare with BNA.PR.A (5.86% to 2010-9-30) and BNA.PR.B (8.29% to 2016-3-25).<\/td>\n<\/tr>\n
FBS.PR.B<\/td>\nSplitShare<\/td>\n-1.6178%<\/td>\nAsset coverage of just under 1.7:1 as of June 5, according to the company<\/a>. Now with a pre-tax bid-YTW of 5.64% based on a bid of 9.73 and a hardMaturity 2011-12-15 at 10.00.<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n-1.5263%<\/td>\nNow with a pre-tax bid-YTW of 5.97% based on a bid of 18.71 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetualDiscount<\/td>\n-1.5100%<\/td>\nNow with a pre-tax bid-YTW of 5.96% based on a bid of 20.22 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetualDiscount<\/td>\n-1.1424%<\/td>\nNow with a pre-tax bid-YTW of 5.69% based on a bid of 24.23 and a limitMaturity.<\/td>\n<\/tr>\n
GWO.PR.F<\/td>\nPerpetualPremium<\/td>\n-1.1236%<\/td>\nNow with a pre-tax bid-YTW of 5.32% based on a bid of 25.52 and a call 2012-10-30 at 25.00.<\/td>\n<\/tr>\n<\/table>\n<\/div>\n
\n\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
BMO.PR.I<\/td>\nOpRet<\/td>\n635,000<\/td>\nNesbitt crossed 634,200 at 25.20 … nice work! Now with a pre-tax bid-YTW of 1.11% based on a bid of 25.13 and a call 2008-7-12 at 25.00 … it will yield 4.08 if it survives until its softMaturity<\/a> 2008-11-24 at 25.00.<\/td>\n<\/tr>\n
NTL.PR.G<\/td>\nScraps (Would be Ratchet, but there are credit concerns)<\/td>\n111,678<\/td>\n <\/td>\n<\/tr>\n
RY.PR.B<\/td>\nPerpetualDiscount<\/td>\n95,710<\/td>\nAnonymous crossed 90,000 at 21.05 … but they might have been different anonymice and therefore not a cross. Now with a pre-tax bid-YTW of 5.68% based on a bid of 20.91 and a limitMaturity.<\/td>\n<\/tr>\n
BMO.PR.L<\/td>\nPerpetualPremium<\/td>\n70,560<\/td>\nNow with a pre-tax bid-YTW of 5.89% based on a bid of 25.10 and a limitMaturity.<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetualDiscount<\/td>\n69,500<\/td>\nNow with a pre-tax bid-YTW of 5.71% based on a bid of 19.90 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nPerpetualDiscount<\/td>\n35,299<\/td>\nNow with a pre-tax bid-YTW of 5.66% based on a bid of 20.19 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

There were twenty-one other index-included $25-pv-equivalent issues trading over 10,000 shares today.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sorry about the terse nature of these posts, folks. Another poor day for preferreds, as been previously mentioned; SunLife issues were yet again among the badly hurt. Note that these indices are experimental; the absolute …<\/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-2258","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2258","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=2258"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2258\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}