{"id":23312,"date":"2013-10-08T19:39:35","date_gmt":"2013-10-08T23:39:35","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23312"},"modified":"2013-10-08T19:39:35","modified_gmt":"2013-10-08T23:39:35","slug":"october-8-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23312","title":{"rendered":"October 8, 2013"},"content":{"rendered":"

Geez, maybe I should open a managed future fund<\/a>:<\/p>\n

Brokers have an incentive to keep clients in managed-futures funds because they receive commissions annually of up to 4 percent of assets invested, prospectuses show. Investors pay as much as 9 percent in total fees each year, including charges by general partners and fund managers.<\/p><\/blockquote>\n

Amazing – somebody actually took a quantitative look at the spread between downtown and suburban house prices<\/a>:<\/p>\n

No question, you\u2019ll find house prices are cheaper outside big cities. Toronto Real Estate Board numbers suggest a spread of almost $250,000 between city homes and those in the neighbouring suburbs. But as shown in a spreadsheet created by Mr. Hughes, suburban living loses its cost advantage if you have two adults commuting by car each day. Add the effect of stress and time spent in gridlock, and suburbia looks even more costly.<\/p><\/blockquote>\n

It was another negative day for the Canadian preferred share market, with PerpetualDiscounts losing 28bp, FixedResets down 9bp and DeemedRetractibles off 6bp. There was a surprisingly lengthy list of losers in the Performance Highlights table. Volume was above 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>\n-0.0612 %<\/td>\n2,521.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.33 %<\/td>\n3.65 %<\/td>\n31,143<\/td>\n17.99<\/td>\n1<\/td>\n-0.2272 %<\/td>\n3,838.4<\/td>\n<\/tr>\n
Floater<\/td>\n2.68 %<\/td>\n2.92 %<\/td>\n65,162<\/td>\n19.96<\/td>\n5<\/td>\n-0.0612 %<\/td>\n2,723.0<\/td>\n<\/tr>\n
OpRet<\/td>\n4.62 %<\/td>\n2.67 %<\/td>\n61,816<\/td>\n0.63<\/td>\n3<\/td>\n0.2576 %<\/td>\n2,639.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.76 %<\/td>\n5.05 %<\/td>\n62,160<\/td>\n3.73<\/td>\n6<\/td>\n0.0602 %<\/td>\n2,946.1<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2576 %<\/td>\n2,413.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.79 %<\/td>\n1.04 %<\/td>\n106,098<\/td>\n0.10<\/td>\n8<\/td>\n-0.0219 %<\/td>\n2,280.6<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.58 %<\/td>\n5.56 %<\/td>\n158,413<\/td>\n14.51<\/td>\n30<\/td>\n-0.2845 %<\/td>\n2,335.1<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.95 %<\/td>\n3.69 %<\/td>\n235,148<\/td>\n3.61<\/td>\n85<\/td>\n-0.0862 %<\/td>\n2,452.2<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.14 %<\/td>\n4.45 %<\/td>\n189,415<\/td>\n6.87<\/td>\n43<\/td>\n-0.0554 %<\/td>\n2,376.0<\/td>\n<\/tr>\n<\/table>\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
CIU.PR.C<\/td>\nFixedReset<\/td>\n-4.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 19.66
\nEvaluated at bid price : 19.66
\nBid-YTW : 4.25 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.89 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 5.50 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n-1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 20.11
\nEvaluated at bid price : 20.11
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 20.78
\nEvaluated at bid price : 20.78
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 20.76
\nEvaluated at bid price : 20.76
\nBid-YTW : 4.13 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 23.24
\nEvaluated at bid price : 25.04
\nBid-YTW : 4.73 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nDeemed-Retractible<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.08
\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nDeemed-Retractible<\/td>\n-1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.13
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 19.45
\nEvaluated at bid price : 19.45
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
ENB.PR.H<\/td>\nFixedReset<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 22.55
\nEvaluated at bid price : 23.50
\nBid-YTW : 4.22 %<\/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
BNS.PR.Q<\/td>\nFixedReset<\/td>\n98,437<\/td>\nRBC crossed 50,000 at 24.81.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.81
\nBid-YTW : 3.69 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n40,775<\/td>\nNational crossed 23,800 at 22.38.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 21.96
\nEvaluated at bid price : 22.31
\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset<\/td>\n40,526<\/td>\nWill reset at 3.5595%<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.85
\nBid-YTW : 3.65 %<\/td>\n<\/tr>\n
ENB.PR.H<\/td>\nFixedReset<\/td>\n35,310<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 22.55
\nEvaluated at bid price : 23.50
\nBid-YTW : 4.22 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n34,068<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 22.76
\nEvaluated at bid price : 23.00
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n26,030<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 21.99
\nEvaluated at bid price : 22.28
\nBid-YTW : 5.38 %<\/td>\n<\/tr>\n
There were 41 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
CIU.PR.C<\/td>\nFixedReset<\/td>\nQuote: 19.66 – 20.66
\nSpot Rate : 1.0000
\nAverage : 0.7071<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 19.66
\nEvaluated at bid price : 19.66
\nBid-YTW : 4.25 %<\/td>\n<\/tr>\n

CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.42 – 21.03
\nSpot Rate : 0.6100
\nAverage : 0.3766<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 20.42
\nEvaluated at bid price : 20.42
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n

IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.62 – 22.98
\nSpot Rate : 0.3600
\nAverage : 0.2535<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.62
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n

TD.PR.R<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.85 – 26.10
\nSpot Rate : 0.2500
\nAverage : 0.1520<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-30
\nMaturity Price : 25.75
\nEvaluated at bid price : 25.85
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n

TRP.PR.C<\/td>\nFixedReset<\/td>\nQuote: 23.03 – 23.54
\nSpot Rate : 0.5100
\nAverage : 0.4336<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 22.55
\nEvaluated at bid price : 23.03
\nBid-YTW : 3.78 %<\/td>\n<\/tr>\n

PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.45 – 23.68
\nSpot Rate : 0.2300
\nAverage : 0.1589<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-08
\nMaturity Price : 23.15
\nEvaluated at bid price : 23.45
\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Geez, maybe I should open a managed future fund: Brokers have an incentive to keep clients in managed-futures funds because they receive commissions annually of up to 4 percent of assets invested, prospectuses show. Investors …<\/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-23312","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23312","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=23312"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23312\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}