{"id":23054,"date":"2013-09-13T20:12:03","date_gmt":"2013-09-14T00:12:03","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23054"},"modified":"2013-09-13T20:12:03","modified_gmt":"2013-09-14T00:12:03","slug":"september-13-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23054","title":{"rendered":"September 13, 2013"},"content":{"rendered":"

There is a continuous stream of tapering chatter<\/a>!<\/p>\n

U.S. stocks rose, with the Dow Jones Industrial Average capping its best week since January, as disappointing economic data fueled bets that any Federal Reserve stimulus cuts this month would be moderate.
…<\/b>
Fifty-seven percent of those surveyed say they don\u2019t expect a sudden change in the markets because investors already anticipate tapering action.<\/p>\n

A Commerce Department report today showed retail sales in the U.S. rose 0.2 percent, the smallest increase in four months and below the 0.5 percent advance seen in Bloomberg survey. Wholesale prices in the U.S. rose more than forecast in August, adding 0.3 percent on higher costs for food and some fuels.<\/p>\n

A separate report showed inventories at companies increased more than forecast in July, trailing a gain in sales that signals a pickup in factory orders. The Thomson Reuters\/University of Michigan preliminary September index of consumer sentiment fell to 76.8 from 82.1 last month, which was the lowest since April.<\/p><\/blockquote>\n

It was another mixed day for the Canadian preferred share market, with PerpetualDiscounts up 34bp, FixedResets off 1bp and DeemedRetractibles down 3bp. A fairly lengthy Performance Highlights table is heavily skewed towards winners, led by TCA.PR.X, which got called today<\/a>. Volume was average.<\/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>\n0.4076 %<\/td>\n2,601.2<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.32 %<\/td>\n3.63 %<\/td>\n31,192<\/td>\n18.07<\/td>\n1<\/td>\n0.0000 %<\/td>\n3,845.4<\/td>\n<\/tr>\n
Floater<\/td>\n2.60 %<\/td>\n2.88 %<\/td>\n68,118<\/td>\n20.03<\/td>\n5<\/td>\n0.4076 %<\/td>\n2,808.6<\/td>\n<\/tr>\n
OpRet<\/td>\n4.63 %<\/td>\n1.95 %<\/td>\n69,550<\/td>\n0.54<\/td>\n3<\/td>\n0.2448 %<\/td>\n2,638.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.76 %<\/td>\n4.80 %<\/td>\n56,991<\/td>\n4.08<\/td>\n6<\/td>\n-0.2091 %<\/td>\n2,940.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2448 %<\/td>\n2,412.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.91 %<\/td>\n5.93 %<\/td>\n108,969<\/td>\n13.92<\/td>\n2<\/td>\n0.3391 %<\/td>\n2,243.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.64 %<\/td>\n5.75 %<\/td>\n132,556<\/td>\n14.22<\/td>\n36<\/td>\n0.3385 %<\/td>\n2,305.6<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.95 %<\/td>\n3.83 %<\/td>\n241,539<\/td>\n3.67<\/td>\n85<\/td>\n-0.0100 %<\/td>\n2,446.2<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.19 %<\/td>\n4.89 %<\/td>\n187,094<\/td>\n6.93<\/td>\n43<\/td>\n-0.0289 %<\/td>\n2,344.4<\/td>\n<\/tr>\n<\/table>\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
IFC.PR.A<\/td>\nFixedReset<\/td>\n-2.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.49
\nBid-YTW : 4.68 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n-2.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 22.25
\nEvaluated at bid price : 22.60
\nBid-YTW : 4.16 %<\/td>\n<\/tr>\n
CIU.PR.C<\/td>\nFixedReset<\/td>\n-1.89 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 22.05
\nEvaluated at bid price : 22.37
\nBid-YTW : 3.92 %<\/td>\n<\/tr>\n
CGI.PR.D<\/td>\nSplitShare<\/td>\n-1.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2023-06-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.52
\nBid-YTW : 4.53 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.75
\nBid-YTW : 4.21 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nDeemed-Retractible<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.20
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 22.37
\nEvaluated at bid price : 22.70
\nBid-YTW : 5.43 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 23.20
\nEvaluated at bid price : 23.50
\nBid-YTW : 2.21 %<\/td>\n<\/tr>\n
TCA.PR.Y<\/td>\nPerpetual-Discount<\/td>\n2.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 49.56
\nEvaluated at bid price : 50.00
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Discount<\/td>\n2.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 22.33
\nEvaluated at bid price : 22.65
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
TCA.PR.X<\/td>\nPerpetual-Discount<\/td>\n3.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-10-15
\nMaturity Price : 50.00
\nEvaluated at bid price : 50.51
\nBid-YTW : 1.82 %<\/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
TCA.PR.X<\/td>\nPerpetual-Discount<\/td>\n65,375<\/td>\nCalled for redemption<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-10-15
\nMaturity Price : 50.00
\nEvaluated at bid price : 50.51
\nBid-YTW : 1.82 %<\/td>\n<\/tr>\n
RY.PR.L<\/td>\nFixedReset<\/td>\n28,889<\/td>\nTD crossed 25,000 at 25.35.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.39
\nBid-YTW : 2.77 %<\/td>\n<\/tr>\n
FTS.PR.K<\/td>\nFixedReset<\/td>\n25,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 22.97
\nEvaluated at bid price : 24.55
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\n23,300<\/td>\nDesjardins crossed 21,000 at 21.70.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 21.46
\nEvaluated at bid price : 21.74
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nDeemed-Retractible<\/td>\n22,972<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.39
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
GWO.PR.L<\/td>\nDeemed-Retractible<\/td>\n20,600<\/td>\nNesbitt crossed 18,000 at 24.85.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.77
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
There were 32 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
CGI.PR.D<\/td>\nSplitShare<\/td>\nQuote: 23.52 – 24.00
\nSpot Rate : 0.4800
\nAverage : 0.2933<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2023-06-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.52
\nBid-YTW : 4.53 %<\/td>\n<\/tr>\n

PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.00 – 22.49
\nSpot Rate : 0.4900
\nAverage : 0.3440<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 21.71
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n

HSE.PR.A<\/td>\nFixedReset<\/td>\nQuote: 23.37 – 23.70
\nSpot Rate : 0.3300
\nAverage : 0.2154<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 22.72
\nEvaluated at bid price : 23.37
\nBid-YTW : 4.15 %<\/td>\n<\/tr>\n

POW.PR.C<\/td>\nPerpetual-Discount<\/td>\nQuote: 25.01 – 25.40
\nSpot Rate : 0.3900
\nAverage : 0.2762<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 24.69
\nEvaluated at bid price : 25.01
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n

BNS.PR.O<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.80 – 26.09
\nSpot Rate : 0.2900
\nAverage : 0.1900<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-04-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.80
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n

BAM.PR.X<\/td>\nFixedReset<\/td>\nQuote: 23.01 – 23.40
\nSpot Rate : 0.3900
\nAverage : 0.2918<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-13
\nMaturity Price : 22.36
\nEvaluated at bid price : 23.01
\nBid-YTW : 4.35 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

There is a continuous stream of tapering chatter! U.S. stocks rose, with the Dow Jones Industrial Average capping its best week since January, as disappointing economic data fueled bets that any Federal Reserve stimulus cuts …<\/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-23054","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23054","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=23054"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23054\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}