{"id":25733,"date":"2014-07-04T19:36:45","date_gmt":"2014-07-05T00:36:45","guid":{"rendered":"http:\/\/prefblog.com\/?p=25733"},"modified":"2014-07-04T19:36:45","modified_gmt":"2014-07-05T00:36:45","slug":"july-4-2014","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=25733","title":{"rendered":"July 4, 2014"},"content":{"rendered":"

Nothing happened today.<\/p>\n

The Canadian preferred share market pulled back today, with PerpetualDiscounts losing 10bp, FixedResets off 2bp and DeemedRetractibles down 4bp. Floaters did quite well, but apart from them there was little volatility. Volume was pathetic.<\/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>\n3.13 %<\/td>\n3.12 %<\/td>\n23,187<\/td>\n19.43<\/td>\n1<\/td>\n0.1674 %<\/td>\n2,536.2<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.25 %<\/td>\n3.53 %<\/td>\n29,318<\/td>\n18.27<\/td>\n1<\/td>\n0.5851 %<\/td>\n4,039.5<\/td>\n<\/tr>\n
Floater<\/td>\n2.85 %<\/td>\n2.94 %<\/td>\n46,758<\/td>\n19.92<\/td>\n4<\/td>\n1.1795 %<\/td>\n2,780.9<\/td>\n<\/tr>\n
OpRet<\/td>\n4.02 %<\/td>\n-5.84 %<\/td>\n87,870<\/td>\n0.08<\/td>\n1<\/td>\n-0.0392 %<\/td>\n2,720.0<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.67 %<\/td>\n4.04 %<\/td>\n89,288<\/td>\n4.07<\/td>\n7<\/td>\n-0.2484 %<\/td>\n3,121.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0392 %<\/td>\n2,487.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.51 %<\/td>\n-4.51 %<\/td>\n80,269<\/td>\n0.08<\/td>\n17<\/td>\n-0.0392 %<\/td>\n2,422.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.24 %<\/td>\n5.15 %<\/td>\n112,055<\/td>\n15.04<\/td>\n20<\/td>\n-0.0980 %<\/td>\n2,570.8<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.38 %<\/td>\n3.59 %<\/td>\n199,323<\/td>\n4.58<\/td>\n76<\/td>\n-0.0198 %<\/td>\n2,561.8<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.98 %<\/td>\n1.46 %<\/td>\n130,722<\/td>\n0.15<\/td>\n43<\/td>\n-0.0433 %<\/td>\n2,547.9<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.67 %<\/td>\n2.30 %<\/td>\n118,659<\/td>\n3.91<\/td>\n6<\/td>\n-0.0143 %<\/td>\n2,508.3<\/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
BAM.PR.X<\/td>\nFixedReset<\/td>\n-1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 22.05
\nEvaluated at bid price : 22.41
\nBid-YTW : 3.93 %<\/td>\n<\/tr>\n
TD.PR.S<\/td>\nFixedReset<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.24
\nBid-YTW : 3.07 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 17.89
\nEvaluated at bid price : 17.89
\nBid-YTW : 2.95 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n1.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 17.82
\nEvaluated at bid price : 17.82
\nBid-YTW : 2.96 %<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 17.95
\nEvaluated at bid price : 17.95
\nBid-YTW : 2.94 %<\/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
BNA.PR.F<\/td>\nSplitShare<\/td>\n144,900<\/td>\nNew issue settled today<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2021-10-08
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.70
\nBid-YTW : 4.71 %<\/td>\n<\/tr>\n
ENB.PF.C<\/td>\nFixedReset<\/td>\n128,725<\/td>\nTD bought 10,500 from Scotia at 25.33; Nesbitt bought 16,600 from anonymous at the same price; and RBC crossed 50,000 at the same price again.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 23.22
\nEvaluated at bid price : 25.31
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
CM.PR.M<\/td>\nFixedReset<\/td>\n72,913<\/td>\nCalled for redemption<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.99
\nBid-YTW : 3.82 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset<\/td>\n64,029<\/td>\nNesbitt crossed 63,500 at 26.10.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-12-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.00
\nBid-YTW : 2.79 %<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nDeemed-Retractible<\/td>\n52,740<\/td>\nTD crossed two blocks of 25,000 each, both at 25.75.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-03
\nMaturity Price : 25.50
\nEvaluated at bid price : 25.71
\nBid-YTW : 0.27 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n51,513<\/td>\nScotia crossed 40,000 at 23.85.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 23.38
\nEvaluated at bid price : 23.71
\nBid-YTW : 5.13 %<\/td>\n<\/tr>\n
There were 12 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.C<\/td>\nFloater<\/td>\nQuote: 17.95 – 18.95
\nSpot Rate : 1.0000
\nAverage : 0.5416<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 17.95
\nEvaluated at bid price : 17.95
\nBid-YTW : 2.94 %<\/td>\n<\/tr>\n

MFC.PR.H<\/td>\nFixedReset<\/td>\nQuote: 26.24 – 27.50
\nSpot Rate : 1.2600
\nAverage : 0.9471<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.24
\nBid-YTW : 2.77 %<\/td>\n<\/tr>\n

CU.PR.D<\/td>\nPerpetual-Discount<\/td>\nQuote: 24.22 – 24.74
\nSpot Rate : 0.5200
\nAverage : 0.3296<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 23.83
\nEvaluated at bid price : 24.22
\nBid-YTW : 5.10 %<\/td>\n<\/tr>\n

BAM.PR.R<\/td>\nFixedReset<\/td>\nQuote: 25.40 – 25.84
\nSpot Rate : 0.4400
\nAverage : 0.2645<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-04
\nMaturity Price : 23.73
\nEvaluated at bid price : 25.40
\nBid-YTW : 3.83 %<\/td>\n<\/tr>\n

RY.PR.E<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.56 – 25.97
\nSpot Rate : 0.4100
\nAverage : 0.2670<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-02-24
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.56
\nBid-YTW : 3.29 %<\/td>\n<\/tr>\n

TD.PR.P<\/td>\nDeemed-Retractible<\/td>\nQuote: 26.00 – 26.37
\nSpot Rate : 0.3700
\nAverage : 0.2347<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-03
\nMaturity Price : 25.75
\nEvaluated at bid price : 26.00
\nBid-YTW : -10.94 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today. The Canadian preferred share market pulled back today, with PerpetualDiscounts losing 10bp, FixedResets off 2bp and DeemedRetractibles down 4bp. Floaters did quite well, but apart from them there was little volatility. Volume …<\/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-25733","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25733","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=25733"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25733\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}