{"id":24512,"date":"2014-02-25T21:20:32","date_gmt":"2014-02-26T02:20:32","guid":{"rendered":"http:\/\/prefblog.com\/?p=24512"},"modified":"2014-02-25T21:20:32","modified_gmt":"2014-02-26T02:20:32","slug":"february-24-2014-2","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=24512","title":{"rendered":"February 25, 2014"},"content":{"rendered":"

Nothing happened today.<\/p>\n

It was a strong day for the Canadian preferred share market, probably a result of all the RY.PR.N, RY.PR.P & RY.PR.R redemption money<\/a> appearing in brokerage accounts and being spent. PerpetualDiscounts were up 17bp, FixedResets won 21bp and DeemedRetractibles gained 10bp. There are not a lot of performance highlights, but they’re uniformly positive. Volume was high and all the volume highlights were 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>\n0.8155 %<\/td>\n2,428.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.75 %<\/td>\n4.35 %<\/td>\n30,623<\/td>\n17.71<\/td>\n1<\/td>\n0.6042 %<\/td>\n3,569.2<\/td>\n<\/tr>\n
Floater<\/td>\n2.98 %<\/td>\n3.08 %<\/td>\n54,519<\/td>\n19.46<\/td>\n4<\/td>\n0.8155 %<\/td>\n2,622.5<\/td>\n<\/tr>\n
OpRet<\/td>\n4.62 %<\/td>\n-1.07 %<\/td>\n72,488<\/td>\n0.10<\/td>\n3<\/td>\n-0.1283 %<\/td>\n2,689.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.87 %<\/td>\n4.65 %<\/td>\n58,934<\/td>\n4.36<\/td>\n5<\/td>\n0.3794 %<\/td>\n3,038.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1283 %<\/td>\n2,459.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.65 %<\/td>\n2.07 %<\/td>\n110,337<\/td>\n0.08<\/td>\n12<\/td>\n0.1370 %<\/td>\n2,341.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.53 %<\/td>\n5.59 %<\/td>\n148,224<\/td>\n14.47<\/td>\n26<\/td>\n0.1725 %<\/td>\n2,400.5<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.73 %<\/td>\n3.59 %<\/td>\n214,123<\/td>\n4.50<\/td>\n78<\/td>\n0.2071 %<\/td>\n2,499.6<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.09 %<\/td>\n3.83 %<\/td>\n164,884<\/td>\n1.20<\/td>\n42<\/td>\n0.0990 %<\/td>\n2,437.5<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.65 %<\/td>\n2.65 %<\/td>\n158,496<\/td>\n4.57<\/td>\n6<\/td>\n0.0537 %<\/td>\n2,437.6<\/td>\n<\/tr>\n<\/table>\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
BNA.PR.C<\/td>\nSplitShare<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2019-01-10
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.46
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-02-25
\nMaturity Price : 19.12
\nEvaluated at bid price : 19.12
\nBid-YTW : 2.76 %<\/td>\n<\/tr>\n
ENB.PR.N<\/td>\nFixedReset<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.93
\nBid-YTW : 4.07 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-02-25
\nMaturity Price : 21.36
\nEvaluated at bid price : 21.36
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
PWF.PR.O<\/td>\nPerpetual-Premium<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.69
\nBid-YTW : 5.26 %<\/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>\n243,112<\/td>\nNesbitt crossed blocks of 110,400 and 25,000, both at 24.96. Scotia crossed 65,800 at 25.00.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.99
\nBid-YTW : 3.55 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset<\/td>\n140,571<\/td>\nNew issue settled today<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.50
\nBid-YTW : 4.13 %<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset<\/td>\n132,382<\/td>\nRBC crossed blocks of 46,400 and 58,000, both at 25.15.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.18
\nBid-YTW : 3.44 %<\/td>\n<\/tr>\n
BNS.PR.Q<\/td>\nFixedReset<\/td>\n106,900<\/td>\nRBC crossed 100,000 at 25.16.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.17
\nBid-YTW : 3.49 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n92,946<\/td>\nTD crossed blocks of 25,000 and 46,800, both at 24.89.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.89
\nBid-YTW : 3.46 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n87,055<\/td>\nRBC crossed 50,000 and 25,000, both at 25.20.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-02-25
\nMaturity Price : 23.58
\nEvaluated at bid price : 25.21
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
There were 53 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
BAM.PR.G<\/td>\nFixedFloater<\/td>\nQuote: 19.98 – 20.51
\nSpot Rate : 0.5300
\nAverage : 0.3600<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.98
\nBid-YTW : 4.35 %<\/td>\n<\/tr>\n

CU.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.16 – 21.37
\nSpot Rate : 0.2100
\nAverage : 0.1520<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-02-25
\nMaturity Price : 21.16
\nEvaluated at bid price : 21.16
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n

SLF.PR.B<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.47 – 22.70
\nSpot Rate : 0.2300
\nAverage : 0.1735<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.47
\nBid-YTW : 6.22 %<\/td>\n<\/tr>\n

FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.81 – 23.05
\nSpot Rate : 0.2400
\nAverage : 0.1843<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-02-25
\nMaturity Price : 22.53
\nEvaluated at bid price : 22.81
\nBid-YTW : 5.38 %<\/td>\n<\/tr>\n

MFC.PR.G<\/td>\nFixedReset<\/td>\nQuote: 25.70 – 25.84
\nSpot Rate : 0.1400
\nAverage : 0.0902<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.70
\nBid-YTW : 3.26 %<\/td>\n<\/tr>\n

POW.PR.B<\/td>\nPerpetual-Discount<\/td>\nQuote: 24.01 – 24.16
\nSpot Rate : 0.1500
\nAverage : 0.1003<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-02-25
\nMaturity Price : 23.70
\nEvaluated at bid price : 24.01
\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today. It was a strong day for the Canadian preferred share market, probably a result of all the RY.PR.N, RY.PR.P & RY.PR.R redemption money appearing in brokerage accounts and being spent. PerpetualDiscounts were …<\/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-24512","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24512","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=24512"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24512\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}