{"id":23659,"date":"2013-11-16T03:08:01","date_gmt":"2013-11-16T07:08:01","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23659"},"modified":"2013-11-16T03:08:01","modified_gmt":"2013-11-16T07:08:01","slug":"november-15-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23659","title":{"rendered":"November 15, 2013"},"content":{"rendered":"

Nothing happened today, except web server problems for me. Joy!<\/p>\n

It was a mixed day for the Canadian preferred share market, with PerpetualDiscounts off 4bp, FixedResets down 39bp and DeemedRetractibles gaining 5bp. The Performance Highlights table was dominated by losing low-Spread FixedResets. Volume was well above average.<\/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>\n0.0000 %<\/td>\n2,533.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.21 %<\/td>\n3.49 %<\/td>\n32,975<\/td>\n18.39<\/td>\n1<\/td>\n-0.9211 %<\/td>\n3,991.3<\/td>\n<\/tr>\n
Floater<\/td>\n2.93 %<\/td>\n2.95 %<\/td>\n60,221<\/td>\n19.80<\/td>\n3<\/td>\n0.0000 %<\/td>\n2,735.3<\/td>\n<\/tr>\n
OpRet<\/td>\n4.64 %<\/td>\n1.86 %<\/td>\n69,234<\/td>\n0.08<\/td>\n3<\/td>\n-0.0048 %<\/td>\n2,651.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.73 %<\/td>\n5.14 %<\/td>\n66,568<\/td>\n3.91<\/td>\n6<\/td>\n-0.0198 %<\/td>\n2,967.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0048 %<\/td>\n2,424.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.58 %<\/td>\n4.26 %<\/td>\n125,632<\/td>\n0.09<\/td>\n11<\/td>\n-0.0539 %<\/td>\n2,307.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.56 %<\/td>\n5.57 %<\/td>\n176,840<\/td>\n14.50<\/td>\n27<\/td>\n-0.0437 %<\/td>\n2,367.2<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.97 %<\/td>\n3.39 %<\/td>\n229,648<\/td>\n3.33<\/td>\n82<\/td>\n-0.3938 %<\/td>\n2,480.0<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.07 %<\/td>\n3.97 %<\/td>\n193,754<\/td>\n1.46<\/td>\n42<\/td>\n0.0455 %<\/td>\n2,417.9<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.61 %<\/td>\n2.39 %<\/td>\n322,012<\/td>\n4.49<\/td>\n5<\/td>\n-0.0871 %<\/td>\n2,457.3<\/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
TRP.PR.A<\/td>\nFixedReset<\/td>\n-1.94 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 23.78
\nEvaluated at bid price : 24.25
\nBid-YTW : 3.95 %<\/td>\n<\/tr>\n
IAG.PR.G<\/td>\nFixedReset<\/td>\n-1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.75
\nBid-YTW : 3.59 %<\/td>\n<\/tr>\n
ENB.PR.T<\/td>\nFixedReset<\/td>\n-1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 22.59
\nEvaluated at bid price : 23.65
\nBid-YTW : 4.43 %<\/td>\n<\/tr>\n
ENB.PR.F<\/td>\nFixedReset<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 22.94
\nEvaluated at bid price : 24.30
\nBid-YTW : 4.31 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n-1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 22.22
\nEvaluated at bid price : 22.52
\nBid-YTW : 3.88 %<\/td>\n<\/tr>\n
BNS.PR.Y<\/td>\nFixedReset<\/td>\n-1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.90
\nBid-YTW : 3.70 %<\/td>\n<\/tr>\n
ELF.PR.H<\/td>\nPerpetual-Discount<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 23.55
\nEvaluated at bid price : 23.91
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
ENB.PR.Y<\/td>\nFixedReset<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 22.45
\nEvaluated at bid price : 23.38
\nBid-YTW : 4.39 %<\/td>\n<\/tr>\n
ENB.PR.P<\/td>\nFixedReset<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 22.65
\nEvaluated at bid price : 23.76
\nBid-YTW : 4.41 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-09-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.71
\nBid-YTW : 3.51 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 22.51
\nEvaluated at bid price : 22.85
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.84 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 21.60
\nEvaluated at bid price : 21.60
\nBid-YTW : 5.34 %<\/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.Z<\/td>\nFixedReset<\/td>\n403,746<\/td>\nNesbitt crossed blocks of 170,000 and 20,000, both at 23.70. RBC crossed 205,000 at the same price. Nice tickets!
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.75
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset<\/td>\n225,730<\/td>\nRBC crossed blocks of 100,000 and 20,000, both at 25.60. Nesbitt crossed 100,000 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.48
\nBid-YTW : 3.39 %<\/td>\n<\/tr>\n
BNS.PR.B<\/td>\nFloatingReset<\/td>\n108,500<\/td>\nScotia crossed blocks of 50,000 shares, 23,100 and 30,000, all at 25.03.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-10-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.01
\nBid-YTW : 2.51 %<\/td>\n<\/tr>\n
TD.PR.Z<\/td>\nFloatingReset<\/td>\n102,000<\/td>\nScotia crossed 100,000 at 25.03.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.01
\nBid-YTW : 2.53 %<\/td>\n<\/tr>\n
RY.PR.T<\/td>\nFixedReset<\/td>\n62,115<\/td>\nTD crossed 47,800 at 25.71.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.74
\nBid-YTW : 2.21 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset<\/td>\n60,550<\/td>\nRBC crossed 24,500 at 21.10.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 20.95
\nEvaluated at bid price : 20.95
\nBid-YTW : 4.02 %<\/td>\n<\/tr>\n
There were 47 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
TRP.PR.A<\/td>\nFixedReset<\/td>\nQuote: 24.25 – 24.75
\nSpot Rate : 0.5000
\nAverage : 0.2904<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 23.78
\nEvaluated at bid price : 24.25
\nBid-YTW : 3.95 %<\/td>\n<\/tr>\n

TRP.PR.C<\/td>\nFixedReset<\/td>\nQuote: 22.52 – 23.09
\nSpot Rate : 0.5700
\nAverage : 0.3670<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 22.22
\nEvaluated at bid price : 22.52
\nBid-YTW : 3.88 %<\/td>\n<\/tr>\n

MFC.PR.H<\/td>\nFixedReset<\/td>\nQuote: 26.08 – 26.45
\nSpot Rate : 0.3700
\nAverage : 0.2333<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.08
\nBid-YTW : 3.11 %<\/td>\n<\/tr>\n

TRP.PR.B<\/td>\nFixedReset<\/td>\nQuote: 20.70 – 21.00
\nSpot Rate : 0.3000
\nAverage : 0.1930<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 20.70
\nEvaluated at bid price : 20.70
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n

HSB.PR.C<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.18 – 25.46
\nSpot Rate : 0.2800
\nAverage : 0.1758<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.18
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n

FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.63 – 23.07
\nSpot Rate : 0.4400
\nAverage : 0.3399<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-15
\nMaturity Price : 22.31
\nEvaluated at bid price : 22.63
\nBid-YTW : 5.25 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today, except web server problems for me. Joy! It was a mixed day for the Canadian preferred share market, with PerpetualDiscounts off 4bp, FixedResets down 39bp and DeemedRetractibles gaining 5bp. The Performance Highlights …<\/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-23659","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23659","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=23659"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23659\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}