{"id":24195,"date":"2014-01-15T02:47:09","date_gmt":"2014-01-15T07:47:09","guid":{"rendered":"http:\/\/prefblog.com\/?p=24195"},"modified":"2014-01-15T02:47:09","modified_gmt":"2014-01-15T07:47:09","slug":"january-14-2014","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=24195","title":{"rendered":"January 14, 2014"},"content":{"rendered":"

Nothing happened today, either.<\/p>\n

It was a mixed day for the Canadian preferred share market, with PerpetualDiscounts up 20bp, FixedResets gaining 2bp and DeemedRetractibles off 4bp. The Performance Highlights table is notable for a fine complement of winning BAM PerpetualDiscounts. Volume was high, with many issues trading over 100,000 shares.<\/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-0.6458 %<\/td>\n2,555.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.42 %<\/td>\n3.65 %<\/td>\n32,591<\/td>\n18.10<\/td>\n1<\/td>\n0.0000 %<\/td>\n3,840.7<\/td>\n<\/tr>\n
Floater<\/td>\n2.92 %<\/td>\n2.94 %<\/td>\n67,263<\/td>\n19.90<\/td>\n3<\/td>\n-0.6458 %<\/td>\n2,759.5<\/td>\n<\/tr>\n
OpRet<\/td>\n4.62 %<\/td>\n0.34 %<\/td>\n75,815<\/td>\n0.08<\/td>\n3<\/td>\n0.0642 %<\/td>\n2,674.2<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.85 %<\/td>\n4.73 %<\/td>\n67,323<\/td>\n4.43<\/td>\n5<\/td>\n-0.0882 %<\/td>\n3,020.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0642 %<\/td>\n2,445.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.63 %<\/td>\n3.61 %<\/td>\n128,187<\/td>\n0.14<\/td>\n13<\/td>\n0.0061 %<\/td>\n2,322.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.62 %<\/td>\n5.64 %<\/td>\n166,660<\/td>\n14.48<\/td>\n25<\/td>\n0.1967 %<\/td>\n2,362.4<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.95 %<\/td>\n3.49 %<\/td>\n221,783<\/td>\n3.45<\/td>\n82<\/td>\n0.0242 %<\/td>\n2,486.1<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.14 %<\/td>\n4.33 %<\/td>\n164,652<\/td>\n1.99<\/td>\n42<\/td>\n-0.0382 %<\/td>\n2,403.9<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.60 %<\/td>\n2.25 %<\/td>\n225,169<\/td>\n4.33<\/td>\n5<\/td>\n0.1347 %<\/td>\n2,475.7<\/td>\n<\/tr>\n<\/table>\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
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n-1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 21.81
\nEvaluated at bid price : 22.13
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 22.13
\nEvaluated at bid price : 22.41
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\n1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 20.17
\nEvaluated at bid price : 20.17
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n1.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 19.58
\nEvaluated at bid price : 19.58
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
CIU.PR.C<\/td>\nFixedReset<\/td>\n2.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 20.96
\nEvaluated at bid price : 20.96
\nBid-YTW : 3.88 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\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.R<\/td>\nFixedReset<\/td>\n300,560<\/td>\nCalled for redemption<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.34
\nBid-YTW : 1.89 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset<\/td>\n263,134<\/td>\nAdded to TXPL<\/a>.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 23.08
\nEvaluated at bid price : 24.82
\nBid-YTW : 4.03 %<\/td>\n<\/tr>\n
BNS.PR.Q<\/td>\nFixedReset<\/td>\n173,800<\/td>\nRBC crossed blocks of 98,100 and 63,200, both at 25.10.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.10
\nBid-YTW : 3.49 %<\/td>\n<\/tr>\n
MFC.PR.E<\/td>\nFixedReset<\/td>\n154,215<\/td>\nRBC crossed blocks of 48,400, 26,600 and 74,800, all at 25.62.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-09-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.58
\nBid-YTW : 2.76 %<\/td>\n<\/tr>\n
TD.PR.G<\/td>\nFixedReset<\/td>\n146,700<\/td>\nScotia crossed 80,000 at 25.22; Nesbitt crossed 64,300 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.22
\nBid-YTW : 2.14 %<\/td>\n<\/tr>\n
BNS.PR.R<\/td>\nFixedReset<\/td>\n138,115<\/td>\nWill reset at 3.83%<\/a>. Yield to Deemed Maturity is 3.58%.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.17
\nBid-YTW : -3.02 %<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset<\/td>\n136,000<\/td>\nRBC crossed 124,900 at 25.10.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.03
\nBid-YTW : 3.49 %<\/td>\n<\/tr>\n
CM.PR.L<\/td>\nFixedReset<\/td>\n127,435<\/td>\nScotia crossed 70,000 at 25.24; Desjardins crossed 55,800 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.24
\nBid-YTW : 2.20 %<\/td>\n<\/tr>\n
BMO.PR.R<\/td>\nFloatingReset<\/td>\n101,460<\/td>\nNesbitt crossed 100,000 at 25.20.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.18
\nBid-YTW : 2.33 %<\/td>\n<\/tr>\n
RY.PR.N<\/td>\nFixedReset<\/td>\n100,505<\/td>\nCalled for redemption<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.32
\nBid-YTW : 2.60 %<\/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
SLF.PR.E<\/td>\nDeemed-Retractible<\/td>\nQuote: 21.07 – 21.28
\nSpot Rate : 0.2100
\nAverage : 0.1370<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.07
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n

CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.51 – 21.79
\nSpot Rate : 0.2800
\nAverage : 0.2102<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 21.51
\nEvaluated at bid price : 21.51
\nBid-YTW : 5.43 %<\/td>\n<\/tr>\n

FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.41 – 22.64
\nSpot Rate : 0.2300
\nAverage : 0.1621<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 22.13
\nEvaluated at bid price : 22.41
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n

SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.01 – 22.28
\nSpot Rate : 0.2700
\nAverage : 0.2041<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.01
\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n

CGI.PR.D<\/td>\nSplitShare<\/td>\nQuote: 24.65 – 25.01
\nSpot Rate : 0.3600
\nAverage : 0.3042<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2023-06-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.65
\nBid-YTW : 3.99 %<\/td>\n<\/tr>\n

FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.00 – 22.27
\nSpot Rate : 0.2700
\nAverage : 0.2193<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-01-14
\nMaturity Price : 21.72
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.46 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today, either. It was a mixed day for the Canadian preferred share market, with PerpetualDiscounts up 20bp, FixedResets gaining 2bp and DeemedRetractibles off 4bp. The Performance Highlights table is notable for a fine …<\/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-24195","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24195","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=24195"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24195\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}