{"id":23684,"date":"2013-11-18T21:01:27","date_gmt":"2013-11-19T01:01:27","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23674"},"modified":"2013-11-18T21:01:27","modified_gmt":"2013-11-19T01:01:27","slug":"november-18-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23684","title":{"rendered":"November 18, 2013"},"content":{"rendered":"

Nothing happened today.<\/p>\n

However, I am having server problems. After having given sterling service on the farm for many years, IBM informs me that my server is getting unreliable. Rather than refurbish the old server, I have rented a new one and am in the process of copying files and installing software and, when that nightmare is over, will be changing the DNS. Ideally, this will be invisible to Assiduous Readers.<\/p>\n

It was a modestly good day for the Canadian preferred share market, with PerpetualDiscounts winning 14bp, FixedResets gaining 1bp and DeemedRetractibles up 10bp. There was a relatively lengthy Performance Highlights table, with FixedResets scattered around like straws in the wind. Volume was 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>\n0.6137 %<\/td>\n2,548.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.28 %<\/td>\n3.56 %<\/td>\n32,844<\/td>\n18.25<\/td>\n1<\/td>\n-1.6379 %<\/td>\n3,926.0<\/td>\n<\/tr>\n
Floater<\/td>\n2.91 %<\/td>\n2.93 %<\/td>\n59,640<\/td>\n19.86<\/td>\n3<\/td>\n0.6137 %<\/td>\n2,752.0<\/td>\n<\/tr>\n
OpRet<\/td>\n4.64 %<\/td>\n2.13 %<\/td>\n72,900<\/td>\n0.36<\/td>\n3<\/td>\n-0.0644 %<\/td>\n2,649.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.72 %<\/td>\n5.09 %<\/td>\n67,054<\/td>\n3.90<\/td>\n6<\/td>\n0.0928 %<\/td>\n2,970.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0644 %<\/td>\n2,422.9<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.58 %<\/td>\n4.72 %<\/td>\n125,539<\/td>\n0.29<\/td>\n11<\/td>\n-0.1241 %<\/td>\n2,305.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.56 %<\/td>\n5.58 %<\/td>\n180,403<\/td>\n14.51<\/td>\n27<\/td>\n0.1392 %<\/td>\n2,370.5<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.97 %<\/td>\n3.47 %<\/td>\n230,181<\/td>\n3.32<\/td>\n82<\/td>\n0.0103 %<\/td>\n2,480.3<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.06 %<\/td>\n3.96 %<\/td>\n193,651<\/td>\n1.39<\/td>\n42<\/td>\n0.1014 %<\/td>\n2,420.3<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.65 %<\/td>\n2.42 %<\/td>\n317,392<\/td>\n4.47<\/td>\n5<\/td>\n0.0555 %<\/td>\n2,458.7<\/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
HSE.PR.A<\/td>\nFixedReset<\/td>\n-2.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 22.57
\nEvaluated at bid price : 23.07
\nBid-YTW : 3.94 %<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\n-1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 22.55
\nEvaluated at bid price : 22.22
\nBid-YTW : 3.56 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset<\/td>\n-1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.56
\nBid-YTW : 3.52 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 21.36
\nEvaluated at bid price : 21.36
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n
BAM.PR.T<\/td>\nFixedReset<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 23.18
\nEvaluated at bid price : 24.60
\nBid-YTW : 4.19 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 23.36
\nEvaluated at bid price : 23.80
\nBid-YTW : 5.38 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 23.41
\nEvaluated at bid price : 23.75
\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 22.51
\nEvaluated at bid price : 22.80
\nBid-YTW : 3.76 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset<\/td>\n1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.65
\nBid-YTW : 4.35 %<\/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
TD.PR.Z<\/td>\nFloatingReset<\/td>\n182,050<\/td>\nNesbitt crossed blocks of 25,000 and 153,400, both at 25.01.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.01
\nBid-YTW : 2.57 %<\/td>\n<\/tr>\n
BMO.PR.L<\/td>\nDeemed-Retractible<\/td>\n172,710<\/td>\nRBC crossed blocks of 100,000 shares, 20,000 and 30,000, all at 26.60.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-18
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.52
\nBid-YTW : -18.89 %<\/td>\n<\/tr>\n
RY.PR.Y<\/td>\nFixedReset<\/td>\n82,285<\/td>\nTD crossed 71,100 at 26.00.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-11-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.01
\nBid-YTW : 1.99 %<\/td>\n<\/tr>\n
RY.PR.I<\/td>\nFixedReset<\/td>\n44,870<\/td>\nNesbitt crossed 40,000 at 25.18.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.18
\nBid-YTW : 2.00 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset<\/td>\n41,299<\/td>\nRBC crossed 23,300 at 23.70.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.70
\nBid-YTW : 4.08 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n37,520<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 19.73
\nEvaluated at bid price : 19.73
\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n
There were 30 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
MFC.PR.G<\/td>\nFixedReset<\/td>\nQuote: 25.56 – 26.19
\nSpot Rate : 0.6300
\nAverage : 0.3605<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.56
\nBid-YTW : 3.52 %<\/td>\n<\/tr>\n

BAM.PR.G<\/td>\nFixedFloater<\/td>\nQuote: 22.22 – 22.75
\nSpot Rate : 0.5300
\nAverage : 0.3672<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 22.55
\nEvaluated at bid price : 22.22
\nBid-YTW : 3.56 %<\/td>\n<\/tr>\n

HSE.PR.A<\/td>\nFixedReset<\/td>\nQuote: 23.07 – 23.48
\nSpot Rate : 0.4100
\nAverage : 0.2610<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-18
\nMaturity Price : 22.57
\nEvaluated at bid price : 23.07
\nBid-YTW : 3.94 %<\/td>\n<\/tr>\n

TD.PR.P<\/td>\nDeemed-Retractible<\/td>\nQuote: 26.02 – 26.39
\nSpot Rate : 0.3700
\nAverage : 0.2405<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-18
\nMaturity Price : 25.75
\nEvaluated at bid price : 26.02
\nBid-YTW : -4.52 %<\/td>\n<\/tr>\n

FTS.PR.E<\/td>\nOpRet<\/td>\nQuote: 25.84 – 26.19
\nSpot Rate : 0.3500
\nAverage : 0.2232<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-18
\nMaturity Price : 25.75
\nEvaluated at bid price : 25.84
\nBid-YTW : -1.55 %<\/td>\n<\/tr>\n

BMO.PR.P<\/td>\nFixedReset<\/td>\nQuote: 26.09 – 26.44
\nSpot Rate : 0.3500
\nAverage : 0.2294<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.09
\nBid-YTW : 1.84 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today. However, I am having server problems. After having given sterling service on the farm for many years, IBM informs me that my server is getting unreliable. Rather than refurbish the old server, …<\/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-23684","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23684","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=23684"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23684\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}