{"id":23692,"date":"2013-11-22T23:25:00","date_gmt":"2013-11-23T03:25:00","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23692"},"modified":"2013-11-22T23:25:00","modified_gmt":"2013-11-23T03:25:00","slug":"november-22-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23692","title":{"rendered":"November 22, 2013"},"content":{"rendered":"

Nothing happened today, except for more server-fiddling.<\/p>\n

It was another mixed day for the Canadian preferred share market, with PerpetualDiscounts down 10bp, FixedResets up 13bp and DeemedRetractibles off 2bp. Volatility was low. Volume was above average, led by two FloatingReset issues.<\/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-0.1117 %<\/td>\n2,528.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.29 %<\/td>\n3.57 %<\/td>\n30,007<\/td>\n18.21<\/td>\n1<\/td>\n-0.3602 %<\/td>\n3,910.1<\/td>\n<\/tr>\n
Floater<\/td>\n2.93 %<\/td>\n2.96 %<\/td>\n63,114<\/td>\n19.77<\/td>\n3<\/td>\n-0.1117 %<\/td>\n2,730.2<\/td>\n<\/tr>\n
OpRet<\/td>\n4.62 %<\/td>\n-4.78 %<\/td>\n72,755<\/td>\n0.08<\/td>\n3<\/td>\n-0.1537 %<\/td>\n2,662.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.74 %<\/td>\n4.14 %<\/td>\n68,459<\/td>\n3.66<\/td>\n6<\/td>\n0.0198 %<\/td>\n2,986.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1537 %<\/td>\n2,434.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.58 %<\/td>\n3.88 %<\/td>\n123,557<\/td>\n0.09<\/td>\n11<\/td>\n-0.0054 %<\/td>\n2,308.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.56 %<\/td>\n5.55 %<\/td>\n181,561<\/td>\n14.50<\/td>\n27<\/td>\n-0.1050 %<\/td>\n2,369.6<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.97 %<\/td>\n3.26 %<\/td>\n230,360<\/td>\n3.28<\/td>\n82<\/td>\n0.1313 %<\/td>\n2,483.7<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.05 %<\/td>\n4.00 %<\/td>\n191,190<\/td>\n1.45<\/td>\n42<\/td>\n-0.0183 %<\/td>\n2,424.9<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.65 %<\/td>\n2.42 %<\/td>\n305,032<\/td>\n4.46<\/td>\n5<\/td>\n-0.0475 %<\/td>\n2,459.5<\/td>\n<\/tr>\n<\/table>\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.A<\/td>\nPerpetual-Discount<\/td>\n-1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-22
\nMaturity Price : 21.07
\nEvaluated at bid price : 21.07
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.91
\nBid-YTW : 4.38 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset<\/td>\n1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-22
\nMaturity Price : 23.02
\nEvaluated at bid price : 24.65
\nBid-YTW : 4.36 %<\/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
BMO.PR.R<\/td>\nFloatingReset<\/td>\n277,640<\/td>\nScotia crossed blocks of 200,000 and 66,600, both at 25.06. Nice tickets!
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.05
\nBid-YTW : 2.42 %<\/td>\n<\/tr>\n
TD.PR.Z<\/td>\nFloatingReset<\/td>\n242,000<\/td>\nScotia crossed blocks of 188,200 and 50,000, both at 25.03. More nice tickets!
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.04
\nBid-YTW : 2.50 %<\/td>\n<\/tr>\n
CM.PR.L<\/td>\nFixedReset<\/td>\n60,408<\/td>\nRBC crossed 25,000 at 25.63.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.60
\nBid-YTW : 1.87 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n50,775<\/td>\nRBC crossed 12,400 at 19.85.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-22
\nMaturity Price : 19.95
\nEvaluated at bid price : 19.95
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n
BNS.PR.X<\/td>\nFixedReset<\/td>\n47,000<\/td>\nRBC crossed 30,000 at 25.58.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.55
\nBid-YTW : 1.83 %<\/td>\n<\/tr>\n
BNS.PR.T<\/td>\nFixedReset<\/td>\n42,575<\/td>\nRBC crossed 38,200 at 25.58.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.55
\nBid-YTW : 1.83 %<\/td>\n<\/tr>\n
There were 40 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
BNS.PR.P<\/td>\nFixedReset<\/td>\nQuote: 25.10 – 25.43
\nSpot Rate : 0.3300
\nAverage : 0.2118<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-04-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.10
\nBid-YTW : 3.31 %<\/td>\n<\/tr>\n

GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\nQuote: 23.01 – 23.27
\nSpot Rate : 0.2600
\nAverage : 0.1615<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.01
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n

W.PR.H<\/td>\nPerpetual-Discount<\/td>\nQuote: 24.45 – 24.73
\nSpot Rate : 0.2800
\nAverage : 0.2045<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-22
\nMaturity Price : 24.19
\nEvaluated at bid price : 24.45
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n

FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.25 – 23.47
\nSpot Rate : 0.2200
\nAverage : 0.1545<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-11-22
\nMaturity Price : 22.96
\nEvaluated at bid price : 23.25
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n

BAM.PR.Z<\/td>\nFixedReset<\/td>\nQuote: 25.80 – 26.00
\nSpot Rate : 0.2000
\nAverage : 0.1401<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.80
\nBid-YTW : 4.16 %<\/td>\n<\/tr>\n

BNS.PR.O<\/td>\nDeemed-Retractible<\/td>\nQuote: 26.45 – 26.80
\nSpot Rate : 0.3500
\nAverage : 0.2903<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-22
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.45
\nBid-YTW : -11.26 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today, except for more server-fiddling. It was another mixed day for the Canadian preferred share market, with PerpetualDiscounts down 10bp, FixedResets up 13bp and DeemedRetractibles off 2bp. Volatility was low. Volume was above …<\/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-23692","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23692","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=23692"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23692\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}