{"id":23628,"date":"2013-11-12T20:36:55","date_gmt":"2013-11-13T00:36:55","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23628"},"modified":"2013-11-12T20:36:55","modified_gmt":"2013-11-13T00:36:55","slug":"november-12-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23628","title":{"rendered":"November 12, 2013"},"content":{"rendered":"

It might be a while before we see tapering<\/a>:<\/p>\n

Federal Reserve Bank of Atlanta President Dennis Lockhart, who has backed record stimulus, said he wants to see inflation accelerate toward the Fed\u2019s 2 percent goal before the central bank reduces $85 billion in monthly bond purchases.<\/p>\n

\u201cI\u2019d like to see some movement toward the target\u201d before tapering, Lockhart said today in a Bloomberg Radio interview with Kathleen Hays. Inflation is \u201cstable but too low\u201d and a move up would \u201cgive me some confidence we are not dealing with some downside scenario that might develop,\u201d said Lockhart, who doesn\u2019t vote on policy this year.<\/p><\/blockquote>\n

It was another mixed day for the Canadian preferred share market, with PerpetualDiscounts down 28bp, FixedResets up 20bp and DeemedRetractibles off 5bp. In the Performance Highlights table the three losers are all PerpetualDiscounts while FixedResets dominate the winning side. Volume was above average with the highlights comprised entirely of FixedResets.<\/p>\n\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-0.0749 %<\/td>\n2,515.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.13 %<\/td>\n3.41 %<\/td>\n30,027<\/td>\n18.53<\/td>\n1<\/td>\n0.8772 %<\/td>\n4,063.8<\/td>\n<\/tr>\n
Floater<\/td>\n2.95 %<\/td>\n2.98 %<\/td>\n60,317<\/td>\n19.75<\/td>\n3<\/td>\n-0.0749 %<\/td>\n2,715.9<\/td>\n<\/tr>\n
OpRet<\/td>\n4.60 %<\/td>\n0.88 %<\/td>\n70,596<\/td>\n0.38<\/td>\n3<\/td>\n0.1663 %<\/td>\n2,655.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.74 %<\/td>\n5.12 %<\/td>\n67,585<\/td>\n3.92<\/td>\n6<\/td>\n-0.1410 %<\/td>\n2,958.9<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1663 %<\/td>\n2,428.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.57 %<\/td>\n4.84 %<\/td>\n123,827<\/td>\n0.30<\/td>\n11<\/td>\n-0.1257 %<\/td>\n2,306.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.57 %<\/td>\n5.55 %<\/td>\n177,579<\/td>\n14.51<\/td>\n27<\/td>\n-0.2795 %<\/td>\n2,362.6<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.95 %<\/td>\n3.21 %<\/td>\n234,115<\/td>\n3.32<\/td>\n82<\/td>\n0.1977 %<\/td>\n2,484.2<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.08 %<\/td>\n3.92 %<\/td>\n194,404<\/td>\n1.47<\/td>\n42<\/td>\n-0.0532 %<\/td>\n2,412.3<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.61 %<\/td>\n2.41 %<\/td>\n283,185<\/td>\n4.49<\/td>\n5<\/td>\n0.0000 %<\/td>\n2,456.4<\/td>\n<\/tr>\n<\/table>\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
ELF.PR.H<\/td>\nPerpetual-Discount<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 23.49
\nEvaluated at bid price : 23.85
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n-1.56 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 23.01
\nEvaluated at bid price : 23.30
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n
IAG.PR.E<\/td>\nDeemed-Retractible<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-12-31
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.87
\nBid-YTW : 5.50 %<\/td>\n<\/tr>\n
IAG.PR.G<\/td>\nFixedReset<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.12
\nBid-YTW : 3.15 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 23.65
\nEvaluated at bid price : 25.62
\nBid-YTW : 4.13 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 22.64
\nEvaluated at bid price : 23.19
\nBid-YTW : 3.98 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 22.40
\nEvaluated at bid price : 22.78
\nBid-YTW : 3.83 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n2.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 21.67
\nEvaluated at bid price : 21.67
\nBid-YTW : 5.32 %<\/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
RY.PR.I<\/td>\nFixedReset<\/td>\n263,640<\/td>\nNesbitt crossed 260,000 at 25.18.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.17
\nBid-YTW : 2.03 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset<\/td>\n168,257<\/td>\nNesbitt crossed blocks of 75,000 shares, 25,000 and 50,000, all at 25.70.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.71
\nBid-YTW : 4.11 %<\/td>\n<\/tr>\n
GWO.PR.J<\/td>\nFixedReset<\/td>\n53,849<\/td>\nCalled for redemption<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.30
\nBid-YTW : 2.34 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset<\/td>\n32,182<\/td>\nNesbitt crossed 10,000 at 26.05.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.06
\nBid-YTW : 2.70 %<\/td>\n<\/tr>\n
ENB.PR.B<\/td>\nFixedReset<\/td>\n30,715<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 23.25
\nEvaluated at bid price : 24.85
\nBid-YTW : 4.18 %<\/td>\n<\/tr>\n
BAM.PF.A<\/td>\nFixedReset<\/td>\n28,995<\/td>\nTD crossed 23,100 at 25.45.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.45
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
There were 43 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
FTS.PR.E<\/td>\nOpRet<\/td>\nQuote: 26.17 – 26.53
\nSpot Rate : 0.3600
\nAverage : 0.2131<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-12
\nMaturity Price : 25.75
\nEvaluated at bid price : 26.17
\nBid-YTW : -3.57 %<\/td>\n<\/tr>\n

SLF.PR.I<\/td>\nFixedReset<\/td>\nQuote: 25.94 – 26.34
\nSpot Rate : 0.4000
\nAverage : 0.2687<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.94
\nBid-YTW : 3.17 %<\/td>\n<\/tr>\n

MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\nQuote: 21.31 – 21.80
\nSpot Rate : 0.4900
\nAverage : 0.3720<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.31
\nBid-YTW : 6.49 %<\/td>\n<\/tr>\n

CU.PR.E<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.34 – 23.68
\nSpot Rate : 0.3400
\nAverage : 0.2323<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 23.04
\nEvaluated at bid price : 23.34
\nBid-YTW : 5.25 %<\/td>\n<\/tr>\n

CU.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.99 – 21.25
\nSpot Rate : 0.2600
\nAverage : 0.1623<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-12
\nMaturity Price : 20.99
\nEvaluated at bid price : 20.99
\nBid-YTW : 5.38 %<\/td>\n<\/tr>\n

GWO.PR.I<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.00 – 22.28
\nSpot Rate : 0.2800
\nAverage : 0.1915<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.00
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

It might be a while before we see tapering: Federal Reserve Bank of Atlanta President Dennis Lockhart, who has backed record stimulus, said he wants to see inflation accelerate toward the Fed\u2019s 2 percent goal …<\/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-23628","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23628","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=23628"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23628\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}