{"id":23337,"date":"2013-10-10T22:35:06","date_gmt":"2013-10-11T02:35:06","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23337"},"modified":"2013-10-10T22:35:06","modified_gmt":"2013-10-11T02:35:06","slug":"october-10-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23337","title":{"rendered":"October 10, 2013"},"content":{"rendered":"

Maneuvering continues on the US debt limit<\/a>:<\/p>\n

The White House endorsed a short debt-limit increase with no policy conditions attached, signaling potential support for House Republicans\u2019 plan for a month-long reprieve from a default.<\/p>\n

The idea, proposed today by House Speaker John Boehner, wouldn\u2019t end the 10-day old partial shutdown of the federal government. The plan would push the lapse of U.S. borrowing authority to Nov. 22 from Oct. 17.<\/p><\/blockquote>\n

It was a rather strangely mixed day on the Canadian preferred share market, with PerpetualDiscounts and DeemedRetractibles both flat, while FixedResets were down 23bp. BAM issues were notable losers on the Performance Highlights table. Volume was quite 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>\n-0.2583 %<\/td>\n2,485.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.33 %<\/td>\n3.59 %<\/td>\n30,899<\/td>\n18.24<\/td>\n1<\/td>\n-0.1914 %<\/td>\n3,874.7<\/td>\n<\/tr>\n
Floater<\/td>\n2.72 %<\/td>\n2.97 %<\/td>\n61,485<\/td>\n19.81<\/td>\n5<\/td>\n-0.2583 %<\/td>\n2,683.8<\/td>\n<\/tr>\n
OpRet<\/td>\n4.62 %<\/td>\n3.18 %<\/td>\n61,408<\/td>\n0.63<\/td>\n3<\/td>\n0.2829 %<\/td>\n2,643.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.77 %<\/td>\n5.08 %<\/td>\n65,038<\/td>\n4.01<\/td>\n6<\/td>\n0.1491 %<\/td>\n2,940.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2829 %<\/td>\n2,417.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.80 %<\/td>\n1.42 %<\/td>\n108,513<\/td>\n0.10<\/td>\n8<\/td>\n-0.0948 %<\/td>\n2,276.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.59 %<\/td>\n5.56 %<\/td>\n160,692<\/td>\n14.45<\/td>\n30<\/td>\n-0.0015 %<\/td>\n2,329.4<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.97 %<\/td>\n3.74 %<\/td>\n235,995<\/td>\n3.60<\/td>\n85<\/td>\n-0.2346 %<\/td>\n2,446.4<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.15 %<\/td>\n4.46 %<\/td>\n187,539<\/td>\n6.87<\/td>\n43<\/td>\n0.0000 %<\/td>\n2,372.7<\/td>\n<\/tr>\n<\/table>\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.PF.D<\/td>\nPerpetual-Discount<\/td>\n-1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 19.80
\nEvaluated at bid price : 19.80
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n
BAM.PR.T<\/td>\nFixedReset<\/td>\n-1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 22.58
\nEvaluated at bid price : 23.33
\nBid-YTW : 4.52 %<\/td>\n<\/tr>\n
IFC.PR.A<\/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 : 24.15
\nBid-YTW : 4.27 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 17.57
\nEvaluated at bid price : 17.57
\nBid-YTW : 3.00 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset<\/td>\n-1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 21.96
\nEvaluated at bid price : 22.37
\nBid-YTW : 4.29 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.42
\nBid-YTW : 4.76 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 22.40
\nEvaluated at bid price : 22.80
\nBid-YTW : 3.82 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 17.74
\nEvaluated at bid price : 17.74
\nBid-YTW : 2.97 %<\/td>\n<\/tr>\n
ENB.PR.H<\/td>\nFixedReset<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 22.43
\nEvaluated at bid price : 23.26
\nBid-YTW : 4.27 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 21.06
\nEvaluated at bid price : 21.06
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 21.05
\nEvaluated at bid price : 21.05
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n2.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 22.49
\nEvaluated at bid price : 22.75
\nBid-YTW : 2.30 %<\/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
MFC.PR.A<\/td>\nOpRet<\/td>\n304,000<\/td>\nTD crossed blocks of 199,500 and 50,000 at 25.55. RBC crossed 49,400 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-19
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.43
\nBid-YTW : 3.39 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset<\/td>\n109,600<\/td>\nRBC crossed two blocks of 49,400 each, both at 25.48.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-09-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.46
\nBid-YTW : 3.98 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset<\/td>\n60,270<\/td>\nTD crossed 49,000 at 25.80.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.75
\nBid-YTW : 3.77 %<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset<\/td>\n57,075<\/td>\nMaple (who?) bought 19,300 from Hampton (who?) at 19,300.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.77
\nBid-YTW : 3.70 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n54,779<\/td>\nNesbitt crossed 30,000 at 21.05.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 21.05
\nEvaluated at bid price : 21.05
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n44,800<\/td>\nRBC crossed 35,000 at 21.05.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 21.06
\nEvaluated at bid price : 21.06
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
There were 49 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
IFC.PR.A<\/td>\nFixedReset<\/td>\nQuote: 24.15 – 24.52
\nSpot Rate : 0.3700
\nAverage : 0.2250<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.15
\nBid-YTW : 4.27 %<\/td>\n<\/tr>\n

TD.PR.S<\/td>\nFixedReset<\/td>\nQuote: 24.48 – 24.78
\nSpot Rate : 0.3000
\nAverage : 0.1785<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.48
\nBid-YTW : 3.69 %<\/td>\n<\/tr>\n

IFC.PR.C<\/td>\nFixedReset<\/td>\nQuote: 25.51 – 25.79
\nSpot Rate : 0.2800
\nAverage : 0.1674<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.51
\nBid-YTW : 3.53 %<\/td>\n<\/tr>\n

TD.PR.I<\/td>\nFixedReset<\/td>\nQuote: 25.62 – 25.90
\nSpot Rate : 0.2800
\nAverage : 0.1774<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.62
\nBid-YTW : 2.70 %<\/td>\n<\/tr>\n

CIU.PR.C<\/td>\nFixedReset<\/td>\nQuote: 19.36 – 20.15
\nSpot Rate : 0.7900
\nAverage : 0.6938<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 19.36
\nEvaluated at bid price : 19.36
\nBid-YTW : 4.31 %<\/td>\n<\/tr>\n

FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.45 – 22.98
\nSpot Rate : 0.5300
\nAverage : 0.4366<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-10-10
\nMaturity Price : 22.16
\nEvaluated at bid price : 22.45
\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Maneuvering continues on the US debt limit: The White House endorsed a short debt-limit increase with no policy conditions attached, signaling potential support for House Republicans\u2019 plan for a month-long reprieve from a default. The …<\/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-23337","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23337","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=23337"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23337\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}