{"id":22799,"date":"2013-08-15T20:22:44","date_gmt":"2013-08-16T00:22:44","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22799"},"modified":"2013-08-15T20:22:44","modified_gmt":"2013-08-16T00:22:44","slug":"august-15-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22799","title":{"rendered":"August 15, 2013"},"content":{"rendered":"<p>The sale of Aviva&#8217;s US unit to Apollo <a href=\"http:\/\/www.dfs.ny.gov\/about\/press2013\/pr1308141.htm\">has been approved<\/a> with substantially the same conditions as the <a href=\"http:\/\/www.prefblog.com\/?p=22685\">Sun Life &#8211; Guggenheim deal<\/a>:<\/p>\n<blockquote><p>The key heightened policyholder protections to which Apollo agreed include:<\/p>\n<p>Heightened Capital Standards. Apollo has agreed that Athene will maintain Aviva New York\u2019s Risk-Based Capital Levels (RBC Levels) at an amount not less than 450 percent. (Capital serves as a buffer that insurers use to absorb unexpected losses and financial shocks \u2013 better protecting policyholders.)<\/p>\n<p>Backstop Trust Account. Apollo has agreed that Athene will establish a separate backstop trust account totaling approximately $35 million to provide additional protections to policyholders above and beyond the heightened capital levels. If Aviva New York\u2019s RBC levels fall below 450 percent, the funds in the backstop trust account will be used to replenish (\u201ctop up\u201d) Aviva New York\u2019s RBC levels to at least 450 percent. The $35 million in the trust account will be held separately from other Aviva New York\u2019s funds for seven years and dedicated to the sole purpose of protecting policyholders.<\/p>\n<p>Enhanced Regulatory Scrutiny of Operations, Dividends, Investments, Reinsurance. Apollo has agreed that any material changes to Athene\u2019s plans of operations of Aviva New York, including investments, dividends, or reinsurance transactions will require the prior written approval of DFS.<\/p>\n<p>Stronger Disclosure and Transparency Requirements. Aviva New York will file quarterly RBC level reports to DFS \u2013 rather than just the annual reports required under New York Insurance Law. Additionally, the insurer will disclose to DFS necessary information concerning corporate structures, control persons, and other information regarding the operations of the company.<\/p><\/blockquote>\n<p>The Bank of Canada has released the <a href=\"http:\/\/www.bankofcanada.ca\/2013\/08\/publications\/periodicals\/boc-review\/boc-review-summer-2013\/\">Bank of Canada Review &#8211; Summer 2013<\/a> with articles:<\/p>\n<ul>\n<li>CSI: A Model for Tracking Short-Term Growth in Canadian Real GDP\n<li>The Accuracy of Short-Term Forecast Combinations\n<li>Monitoring Short-Term Economic Developments in Foreign Economies\n<li>Big Data Analysis: The Next Frontier<\/ul>\n<p>Nothing very interesting, I&#8217;m afraid &#8211; I didn&#8217;t read any of them.<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/2013-08-15\/treasury-real-yield-approaches-1-before-consumer-price-report.html\">Bonds got hit today<\/a>:<\/p>\n<blockquote><p>Yields (USGG10YR) on 10-year notes, a benchmark for corporate and consumer borrowing rates, climbed above 2.8 percent for the first time in two years as reports showed U.S. initial jobless claims declined last week to the lowest level in almost six years and confidence among U.S. homebuilders rose in August to the highest level since 2005. Treasury data showed private investors abroad sold a record amount of notes and bonds in June, when Fed policy makers indicated they are considering a slowing of their quantitative-easing policy.<\/p><\/blockquote>\n<p>Yields on Canadian 5s, 10s and 30s <a href=\"http:\/\/www.tmxmoney.com\/en\/market_activity\/candeal.html\">were all up 4bp<\/a>.<\/p>\n<p>And, logically enough (which is not always the case) the Canadian preferred share market got thumped today, with PerpetualDiscounts losing 85bp, FixedResets off 16bp and DeemedRetractibles down 50bp. The performance highlights table is suitably enormous. Volume was extremely high.<\/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>-0.4459 %<\/td>\n<td>2,631.2<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>4.44 %<\/td>\n<td>3.71 %<\/td>\n<td>29,743<\/td>\n<td>17.90<\/td>\n<td>1<\/td>\n<td>0.0000 %<\/td>\n<td>3,740.6<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>2.56 %<\/td>\n<td>2.88 %<\/td>\n<td>72,518<\/td>\n<td>19.98<\/td>\n<td>5<\/td>\n<td>-0.4459 %<\/td>\n<td>2,841.0<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>4.65 %<\/td>\n<td>4.00 %<\/td>\n<td>74,346<\/td>\n<td>2.83<\/td>\n<td>3<\/td>\n<td>-0.1934 %<\/td>\n<td>2,603.8<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.69 %<\/td>\n<td>4.70 %<\/td>\n<td>53,804<\/td>\n<td>4.12<\/td>\n<td>6<\/td>\n<td>-0.0067 %<\/td>\n<td>2,954.3<\/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>-0.1934 %<\/td>\n<td>2,381.0<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.76 %<\/td>\n<td>5.85 %<\/td>\n<td>95,918<\/td>\n<td>14.08<\/td>\n<td>12<\/td>\n<td>-0.3063 %<\/td>\n<td>2,250.4<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.71 %<\/td>\n<td>5.73 %<\/td>\n<td>153,304<\/td>\n<td>14.28<\/td>\n<td>25<\/td>\n<td>-0.8514 %<\/td>\n<td>2,260.4<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>5.03 %<\/td>\n<td>3.88 %<\/td>\n<td>239,964<\/td>\n<td>7.06<\/td>\n<td>85<\/td>\n<td>-0.1560 %<\/td>\n<td>2,419.4<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>5.25 %<\/td>\n<td>5.29 %<\/td>\n<td>193,098<\/td>\n<td>6.95<\/td>\n<td>43<\/td>\n<td>-0.5035 %<\/td>\n<td>2,305.8<\/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>TRP.PR.B<\/td>\n<td>FixedReset<\/td>\n<td>-4.93 %<\/td>\n<td>Real enough! A number of trades went through at less than 20.40 in the last ten minutes.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 20.25<br \/>\nEvaluated at bid price : 20.25<br \/>\nBid-YTW : 3.93 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.I<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-3.83 %<\/td>\n<td>Not real. The low for the day was 21.41, but the &#8220;last&#8221; quote was 21.07-48, 1&#215;2.<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 : 21.07<br \/>\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.N<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-2.98 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 19.21<br \/>\nEvaluated at bid price : 19.21<br \/>\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.R<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-2.69 %<\/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 : 22.10<br \/>\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.M<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-2.64 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 19.52<br \/>\nEvaluated at bid price : 19.52<br \/>\nBid-YTW : 6.19 %<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.J<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-2.31 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 21.10<br \/>\nEvaluated at bid price : 21.10<br \/>\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n<tr>\n<td>POW.PR.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.98 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 21.92<br \/>\nEvaluated at bid price : 22.30<br \/>\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n<tr>\n<td>W.PR.J<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.96 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 23.27<br \/>\nEvaluated at bid price : 23.57<br \/>\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.B<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.83 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.15<br \/>\nBid-YTW : 5.21 %<\/td>\n<\/tr>\n<tr>\n<td>VNR.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>-1.78 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 23.16<br \/>\nEvaluated at bid price : 24.80<br \/>\nBid-YTW : 4.51 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.71 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 20.10<br \/>\nEvaluated at bid price : 20.10<br \/>\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.D<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.70 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.65<br \/>\nBid-YTW : 5.31 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.C<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.70 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 19.68<br \/>\nEvaluated at bid price : 19.68<br \/>\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.B<\/td>\n<td>Floater<\/td>\n<td>-1.61 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 18.33<br \/>\nEvaluated at bid price : 18.33<br \/>\nBid-YTW : 2.88 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.Z<\/td>\n<td>FixedReset<\/td>\n<td>-1.55 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 23.12<br \/>\nEvaluated at bid price : 24.75<br \/>\nBid-YTW : 4.76 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.O<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.49 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.46<br \/>\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.G<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.45 %<\/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 : 23.16<br \/>\nBid-YTW : 6.23 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.37 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 20.20<br \/>\nEvaluated at bid price : 20.20<br \/>\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>-1.22 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2016-12-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.00<br \/>\nBid-YTW : 4.65 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.C<\/td>\n<td>Floater<\/td>\n<td>-1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 18.08<br \/>\nEvaluated at bid price : 18.08<br \/>\nBid-YTW : 2.92 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.F<\/td>\n<td>FixedReset<\/td>\n<td>-1.18 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 22.50<br \/>\nEvaluated at bid price : 23.39<br \/>\nBid-YTW : 4.45 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.E<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.18 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 21.51<br \/>\nEvaluated at bid price : 21.80<br \/>\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.G<\/td>\n<td>Perpetual-Premium<\/td>\n<td>-1.13 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 24.12<br \/>\nEvaluated at bid price : 24.42<br \/>\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.I<\/td>\n<td>FixedReset<\/td>\n<td>-1.10 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2017-09-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.12<br \/>\nBid-YTW : 4.48 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.A<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.04 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.70<br \/>\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.H<\/td>\n<td>FixedReset<\/td>\n<td>-1.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 22.08<br \/>\nEvaluated at bid price : 22.67<br \/>\nBid-YTW : 4.29 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>-1.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 22.61<br \/>\nEvaluated at bid price : 23.66<br \/>\nBid-YTW : 4.49 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.H<\/td>\n<td>FixedReset<\/td>\n<td>1.21 %<\/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 : 24.35<br \/>\nBid-YTW : 4.29 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>1.26 %<\/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 : 21.77<br \/>\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>1.31 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 22.38<br \/>\nEvaluated at bid price : 23.20<br \/>\nBid-YTW : 4.16 %<\/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>MFC.PR.D<\/td>\n<td>FixedReset<\/td>\n<td>53,858<\/td>\n<td>TD bought 23,900 from CIBC at 25.93; RBC crossed 16,300 at the same price.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-06-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.91<br \/>\nBid-YTW : 3.48 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.Q<\/td>\n<td>FixedReset<\/td>\n<td>50,676<\/td>\n<td>Desjardins bought two blocks from RBC, of 10,000 and 13,000 shares, both at 24.88.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.85<br \/>\nBid-YTW : 3.63 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.F<\/td>\n<td>FixedReset<\/td>\n<td>44,821<\/td>\n<td>Nesbitt crossed 11,700 at 23.65.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 22.50<br \/>\nEvaluated at bid price : 23.39<br \/>\nBid-YTW : 4.45 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>43,272<\/td>\n<td>Scotia crossed 40,000 at 25.28.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.25<br \/>\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.S<\/td>\n<td>Perpetual-Discount<\/td>\n<td>35,209<\/td>\n<td>Nesbitt crossed 11,200 at 22.04.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 21.79<br \/>\nEvaluated at bid price : 22.10<br \/>\nBid-YTW : 5.46 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>34,562<\/td>\n<td>Macquarie bought 10,100 from CIBC at 25.00.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2016-09-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.00<br \/>\nBid-YTW : 4.40 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 68 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>MFC.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 25.00 &#8211; 26.60<br \/>\nSpot Rate  :  1.6000<br \/>\nAverage  :  0.8556<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2016-12-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.00<br \/>\nBid-YTW : 4.65 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.A<\/td>\n<td>Floater<\/td>\n<td>Quote: 24.56 &#8211; 26.00<br \/>\nSpot Rate  :  1.4400<br \/>\nAverage  :  0.9640<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 24.26<br \/>\nEvaluated at bid price : 24.56<br \/>\nBid-YTW : 2.10 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.C<\/td>\n<td>Floater<\/td>\n<td>Quote: 18.08 &#8211; 18.98<br \/>\nSpot Rate  :  0.9000<br \/>\nAverage  :  0.5516<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 18.08<br \/>\nEvaluated at bid price : 18.08<br \/>\nBid-YTW : 2.92 %<\/td>\n<\/tr>\n<tr>\n<td>TCA.PR.Y<\/td>\n<td>Perpetual-Premium<\/td>\n<td>Quote: 49.40 &#8211; 50.00<br \/>\nSpot Rate  :  0.6000<br \/>\nAverage  :  0.3763<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 48.82<br \/>\nEvaluated at bid price : 49.40<br \/>\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.M<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 19.52 &#8211; 20.00<br \/>\nSpot Rate  :  0.4800<br \/>\nAverage  :  0.3023<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-08-15<br \/>\nMaturity Price  : 19.52<br \/>\nEvaluated at bid price : 19.52<br \/>\nBid-YTW : 6.19 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.J<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 24.95 &#8211; 25.35<br \/>\nSpot Rate  :  0.4000<br \/>\nAverage  :  0.2304<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2018-03-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.95<br \/>\nBid-YTW : 4.22 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The sale of Aviva&#8217;s US unit to Apollo has been approved with substantially the same conditions as the Sun Life &#8211; Guggenheim deal: The key heightened policyholder protections to which Apollo agreed include: Heightened Capital &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-22799","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22799","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=22799"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22799\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}