{"id":2293,"date":"2008-06-20T20:24:37","date_gmt":"2008-06-21T00:24:37","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2293"},"modified":"2008-06-20T20:24:37","modified_gmt":"2008-06-21T00:24:37","slug":"june-20-2008","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2293","title":{"rendered":"June 20, 2008"},"content":{"rendered":"

Stop presses! Sit down! Have some smelling salts! The PerpetualDiscount index was actually up today (up almost 42bp, in fact), ending a string of twelve consecutive losses from June 4 to June 19, inclusive. Those twelve consecutive losses took the PerpetualDiscount index down 5.80%.<\/p>\n

Average pre-tax bid-YTW for PerpetualDiscounts is now 6.07%, interest-equivalent 8.50%, long corporates<\/a> .. oh, call it 6.17% and 30-year Canadas at 4.15%.<\/p>\n

Work out the spreads and update the graphs<\/a> yourselves, ya bums! What am I, your maid?<\/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>\n4.20%<\/td>\n4.22%<\/td>\n51,358<\/td>\n17.00<\/td>\n1<\/td>\n-0.0393%<\/td>\n1,114.6<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.06%<\/td>\n4.85%<\/td>\n62,750<\/td>\n15.82<\/td>\n7<\/td>\n-0.8252%<\/td>\n990.6<\/td>\n<\/tr>\n
Floater<\/td>\n4.04%<\/td>\n4.04%<\/td>\n69,487<\/td>\n17.35<\/td>\n2<\/td>\n-0.4349%<\/td>\n947.8<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.84%<\/td>\n2.43%<\/td>\n86,636<\/td>\n2.44<\/td>\n15<\/td>\n+0.8648%<\/td>\n1,057.4<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.31%<\/td>\n5.67%<\/td>\n68,606<\/td>\n4.15<\/td>\n15<\/td>\n+0.0429%<\/td>\n1,048.6<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.11%<\/td>\n3.77%<\/td>\n48,125<\/td>\n2.01<\/td>\n3<\/td>\n-0.2333%<\/td>\n1,121.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.96%<\/td>\n4.61%<\/td>\n360,772<\/td>\n10.27<\/td>\n13<\/td>\n-0.0252%<\/td>\n1,007.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.00%<\/td>\n6.07%<\/td>\n223,135<\/td>\n13.78<\/td>\n59<\/td>\n+0.4181%<\/td>\n875.6<\/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\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
BCE.PR.I<\/td>\nFixFloat<\/td>\n-3.7199%<\/td>\n <\/td>\n<\/tr>\n
BCE.PRA<\/td>\nFixFloat<\/td>\n-2.0481%<\/td>\n <\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetualDiscount<\/td>\n-1.6822%<\/td>\nNow with a pre-tax bid-YTW of 6.31% based on a bid of 22.21 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
BCE.PR.Z<\/td>\nFixFloat<\/td>\n-1.5625%<\/td>\nNow with a pre-tax bid-YTW of 4.97% based on a bid of 22.05 and a limitMaturity.<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetualDiscount<\/td>\n-1.4500%<\/td>\nNow with a pre-tax bid-YTW of 6.15% based on a bid of 20.39 and a limitMaturity.<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetualDiscount<\/td>\n-1.1845%<\/td>\nNow with a pre-tax bid-YTW of 6.18% based on a bid of 21.69 and a limitMaturity.<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetualDiscount<\/td>\n-1.1059%<\/td>\nNow with a pre-tax bid-YTW of 6.24% based on a bid of 23.25 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.0962%<\/td>\nNow with a pre-tax bid-YTW of 5.99% based on a bid of 24.36 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetualDiscount<\/td>\n+1.0693%<\/td>\nNow with a pre-tax bid-YTW of 6.15% based on a bid of 21.74 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nPerpetualDiscount<\/td>\n+1.1364%<\/td>\nNow with a pre-tax bid-YTW of 6.27% based on a bid of 22.25 and a limitMaturity.<\/td>\n<\/tr>\n
HSB.PR.C<\/td>\nPerpetualDiscount<\/td>\n+1.1423%<\/td>\nNow with a pre-tax bid-YTW of 6.03% based on a bid of 21.25 and a limitMaturity.<\/td>\n<\/tr>\n
HSB.PR.D<\/td>\nPerpetualDiscount<\/td>\n+1.1702%<\/td>\nNow with a pre-tax bid-YTW of 6.06% based on a bid of 20.75 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n+1.2168%<\/td>\nNow with a pre-tax bid-YTW of 6.11% based on a bid of 18.30 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.J<\/td>\nPerpetualDiscount<\/td>\n+1.2603%<\/td>\nNow with a pre-tax bid-YTW of 5.68% based on a bid of 23.30 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nPerpetualDiscount<\/td>\n+1.3263%<\/td>\nNow with a pre-tax bid-YTW of 5.92% based on a bid of 19.10 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.J<\/td>\nPerpetualDiscount<\/td>\n+1.3966%<\/td>\nNow with a pre-tax bid-YTW of 6.31% based on a bid of 18.15 and a limitMaturity.<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nPerpetualDiscount<\/td>\n+1.4000%<\/td>\nNow with a pre-tax bid-YTW of 5.77% based on a bid of 20.28 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.J<\/td>\nOpRet<\/td>\n+1.4724%<\/td>\nNow with a pre-tax bid-YTW of 5.52% based on a bid of 24.81 and a softMaturity<\/a> 2018-3-30 at 25.00. Compare with BAM.PR.H (4.07% to 2008-10-30), BAM.PR.I (5.12% to 2013-12-30) and the new issue<\/a> (5.02% to 2013-6-29).<\/td>\n<\/tr>\n
RY.PR.B<\/td>\nPerpetualDiscount<\/td>\n+1.6427%<\/td>\nNow with a pre-tax bid-YTW of 6.01% based on a bid of 19.80 and a limitMaturity.<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nPerpetualDiscount<\/td>\n+1.8388%<\/td>\nNow with a pre-tax bid-YTW of 6.04% based on a bid of 21.60 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.N<\/td>\nPerpetualDiscount<\/td>\n+2.2263%<\/td>\nNow with a pre-tax bid-YTW of 5.93% based on a bid of 22.50 and a limitMaturity.<\/td>\n<\/tr>\n
BCE.PR.C<\/td>\nFixFloat<\/td>\n+2.2727%<\/td>\n <\/td>\n<\/tr>\n
BMO.PR.H<\/td>\nPerpetualDiscount<\/td>\n+2.7273%<\/td>\nNow with a pre-tax bid-YTW of 5.90% based on a bid of 22.60 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n<\/div>\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
MFC.PR.B<\/td>\nPerpetualDiscount<\/td>\n273,166<\/td>\nNow with a pre-tax bid-YTW of 5.77% based on a bid of 20.28 and a limitMaturity.<\/td>\n<\/tr>\n
TD.PR.P<\/td>\nPerpetualDiscount<\/td>\n208,374<\/td>\nNow with a pre-tax bid-YTW of 5.82% based on a bid of 22.91 and a limitMaturity.<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetualDiscount<\/td>\n207,052<\/td>\nNow with a pre-tax bid-YTW of 5.72% based on a bid of 19.80 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nPerpetualDiscount<\/td>\n205,100<\/td>\nNow with a pre-tax bid-YTW of 5.79% based on a bid of 21.10 and a limitMaturity.<\/td>\n<\/tr>\n
GWO.PR.F<\/td>\nPerpetualPremium<\/td>\n100,853<\/td>\nNow with a pre-tax bid-YTW of 5.48% based on a bid of 25.40 and a call 2012-10-30 at 25.00.<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

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

Stop presses! Sit down! Have some smelling salts! The PerpetualDiscount index was actually up today (up almost 42bp, in fact), ending a string of twelve consecutive losses from June 4 to June 19, inclusive. Those …<\/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-2293","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2293","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=2293"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2293\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}