{"id":22744,"date":"2013-08-08T23:36:36","date_gmt":"2013-08-09T03:36:36","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22744"},"modified":"2013-08-08T23:36:36","modified_gmt":"2013-08-09T03:36:36","slug":"august-8-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22744","title":{"rendered":"August 8, 2013"},"content":{"rendered":"

I’ve just had a look at A Review of the Oncology Under-Dosing Incident<\/a> by Jake J. Thiessen, Ph.D. … the report on the chemotherapy scandal in which neither hospitals nor purchasing agents made the slightest effort to determine just what it was they were buying or had bought.<\/p>\n

What a whitewash.<\/p>\n

The early days of the incident began with the discovery of a questionable MHS GEMCITABINE product on March 20, 2013 at the Peterborough Regional Health Centre.<\/p><\/blockquote>\n

This, of course, is bullshit. The early days of the incident began with the tendering of the contract to supply the drug. The contract was incompetently drafted and handling of the delivered materials was also incompetent. He didn’t address (or even acknowledge) the kickback negotiated as part of the contract<\/a>.<\/p>\n

As a former chemist, the part I like best is:<\/p>\n

The clear difference factor in bulk reconstitution preparation lies in the overfill within the normal saline bags used in hospitals and by MHS. That is, although a bag may be nominally labeled to contain 100, 250, 500 or 1000 mL of 0.9% sodium chloride, the actual volume may be somewhat larger. Such overfill is widely known and is not limited to diluents. For example, Baxter had declared its overfill (shown in Appendix 4). Both the GPO and MHS were apparently aware of such overfills. The degree of overfill is not standardized; it becomes part of a manufacturer\u2019s finished product specifications. The reason for this overfill is that the fluid bags are to some extent permeable to water. That is, water can move through the membrane and then evaporate from the outside surface. On storage, the contents of the bags can thereby decrease. The product\u2019s shelf life is defined by the length of time it would normally take before the contents are reduced to the aforementioned nominal contents (e.g., 100 mL) on the label. Obviously, the rate of loss is determined by the permeability of the bag, fluid volume to surface ratio, and the storage conditions. This influences both the overfill variability used by a manufacturer and the contents determined at any point in time<\/p><\/blockquote>\n

So it is known that the concentration of active material in the bags will increase over time, but the clowndorks in charge of preparing medication for administration use the bags as a source of stock solution at the concentration shown on the label.<\/p>\n

Don’t get sick in Ontari-ari-ari-o.<\/p>\n

As a nod to the ostensible subject of this blog (Canadian preferred shares. Remember?) I’ll highlight Assiduous Reader adrian2<\/i>‘s trip down memory lane<\/a> to May, 2008, when we were all trying to figure out just what these funny new Fixed-Reset thingamajigs were all about.<\/p>\n

It was another day of sickness in the Canadian preferred share market, with PerpetualDiscounts off 1bp, FixedResets down 16bp and DeemedRetractibles losing 19bp. The Performance Highlights table is again very lengthy, but with no obvious patterns. 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>\n0.1167 %<\/td>\n2,638.1<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.26 %<\/td>\n3.55 %<\/td>\n32,548<\/td>\n18.27<\/td>\n1<\/td>\n-2.7451 %<\/td>\n3,901.4<\/td>\n<\/tr>\n
Floater<\/td>\n2.55 %<\/td>\n2.83 %<\/td>\n74,235<\/td>\n20.14<\/td>\n5<\/td>\n0.1167 %<\/td>\n2,848.5<\/td>\n<\/tr>\n
OpRet<\/td>\n4.62 %<\/td>\n3.35 %<\/td>\n76,748<\/td>\n0.63<\/td>\n3<\/td>\n-0.3069 %<\/td>\n2,612.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.68 %<\/td>\n4.73 %<\/td>\n55,902<\/td>\n4.14<\/td>\n6<\/td>\n-0.2023 %<\/td>\n2,960.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.3069 %<\/td>\n2,388.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.70 %<\/td>\n5.61 %<\/td>\n91,805<\/td>\n14.13<\/td>\n12<\/td>\n-0.3100 %<\/td>\n2,269.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.52 %<\/td>\n5.64 %<\/td>\n155,036<\/td>\n14.43<\/td>\n25<\/td>\n-0.0096 %<\/td>\n2,335.3<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.01 %<\/td>\n3.90 %<\/td>\n234,720<\/td>\n4.16<\/td>\n85<\/td>\n-0.1571 %<\/td>\n2,437.5<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.18 %<\/td>\n5.12 %<\/td>\n181,244<\/td>\n6.99<\/td>\n43<\/td>\n-0.1913 %<\/td>\n2,334.1<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\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
BAM.PR.G<\/td>\nFixedFloater<\/td>\n-2.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 22.67
\nEvaluated at bid price : 22.32
\nBid-YTW : 3.55 %<\/td>\n<\/tr>\n
PWF.PR.O<\/td>\nPerpetual-Premium<\/td>\n-2.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 24.54
\nEvaluated at bid price : 25.01
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n-1.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.40
\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nDeemed-Retractible<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.96
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.61
\nBid-YTW : 3.67 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset<\/td>\n-1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.50
\nBid-YTW : 4.14 %<\/td>\n<\/tr>\n
W.PR.H<\/td>\nPerpetual-Discount<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 23.33
\nEvaluated at bid price : 23.61
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n
RY.PR.C<\/td>\nDeemed-Retractible<\/td>\n-1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.11
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset<\/td>\n-1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.73
\nBid-YTW : 4.12 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 22.25
\nEvaluated at bid price : 22.57
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n-1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 20.59
\nEvaluated at bid price : 20.59
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n-1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 21.51
\nEvaluated at bid price : 21.51
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 23.29
\nEvaluated at bid price : 25.25
\nBid-YTW : 4.65 %<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nDeemed-Retractible<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.40
\nBid-YTW : 5.20 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.47
\nBid-YTW : 4.21 %<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetual-Discount<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 23.43
\nEvaluated at bid price : 23.72
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
PWF.PR.M<\/td>\nFixedReset<\/td>\n1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.56
\nBid-YTW : 1.58 %<\/td>\n<\/tr>\n
FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 22.94
\nEvaluated at bid price : 23.32
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 21.71
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\n1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.42
\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n
BAM.PF.A<\/td>\nFixedReset<\/td>\n1.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 23.08
\nEvaluated at bid price : 24.78
\nBid-YTW : 4.63 %<\/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
TD.PR.T<\/td>\nFixedReset<\/td>\n57,170<\/td>\nRecently converted FloatingReset<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.15
\nBid-YTW : 2.37 %<\/td>\n<\/tr>\n
GWO.PR.M<\/td>\nDeemed-Retractible<\/td>\n54,524<\/td>\nTD crossed 50,000 at 25.75.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.58
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
RY.PR.T<\/td>\nFixedReset<\/td>\n53,639<\/td>\nScotia crossed 50,000 at 25.87.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.75
\nBid-YTW : 3.08 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n41,602<\/td>\nTD crossed 10,000 at 22.00.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 21.71
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n
BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\n38,618<\/td>\nRBC crossed 24,300 at 20.90.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 20.88
\nEvaluated at bid price : 20.88
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
BNS.PR.A<\/td>\nFixedReset<\/td>\n37,772<\/td>\nRBC crossed 22,000 at 26.08.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-09-07
\nMaturity Price : 25.50
\nEvaluated at bid price : 26.03
\nBid-YTW : -23.54 %<\/td>\n<\/tr>\n
There were 46 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
PWF.PR.O<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.01 – 25.87
\nSpot Rate : 0.8600
\nAverage : 0.5094<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 24.54
\nEvaluated at bid price : 25.01
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n

PWF.PR.A<\/td>\nFloater<\/td>\nQuote: 24.10 – 24.95
\nSpot Rate : 0.8500
\nAverage : 0.6043<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 23.85
\nEvaluated at bid price : 24.10
\nBid-YTW : 2.15 %<\/td>\n<\/tr>\n

TRP.PR.B<\/td>\nFixedReset<\/td>\nQuote: 21.61 – 22.00
\nSpot Rate : 0.3900
\nAverage : 0.2445<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.61
\nBid-YTW : 3.67 %<\/td>\n<\/tr>\n

TCA.PR.Y<\/td>\nPerpetual-Premium<\/td>\nQuote: 49.85 – 50.40
\nSpot Rate : 0.5500
\nAverage : 0.4133<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 49.38
\nEvaluated at bid price : 49.85
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n

CU.PR.C<\/td>\nFixedReset<\/td>\nQuote: 24.66 – 25.10
\nSpot Rate : 0.4400
\nAverage : 0.3041<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-08-08
\nMaturity Price : 23.15
\nEvaluated at bid price : 24.66
\nBid-YTW : 4.11 %<\/td>\n<\/tr>\n

BMO.PR.Q<\/td>\nFixedReset<\/td>\nQuote: 24.30 – 24.63
\nSpot Rate : 0.3300
\nAverage : 0.2065<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.30
\nBid-YTW : 3.68 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

I’ve just had a look at A Review of the Oncology Under-Dosing Incident by Jake J. Thiessen, Ph.D. … the report on the chemotherapy scandal in which neither hospitals nor purchasing agents made the slightest …<\/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-22744","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22744","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=22744"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22744\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}