{"id":286,"date":"2006-11-14T23:16:48","date_gmt":"2006-11-15T03:16:48","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=286"},"modified":"2006-11-14T23:16:48","modified_gmt":"2006-11-15T03:16:48","slug":"november-14-2006","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=286","title":{"rendered":"November 14, 2006"},"content":{"rendered":"\n\n\n\n\n\n\n\n\n\n\n
Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version<\/strong><\/td>\n<\/tr>\n
Index<\/td>\nMean Current Yield (at bid)<\/td>\nMean YTW<\/td>\nMean Average Trading Value<\/td>\nMean Mod Dur (YTW)<\/td>\nIssues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n4.18%<\/td>\n4.13%<\/td>\n33,617<\/td>\n10.52<\/td>\n2<\/td>\n+0.0401%<\/td>\n1,016.8<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.81%<\/td>\n3.91%<\/td>\n126,843<\/td>\n13.00<\/td>\n7<\/td>\n+0.0121%<\/td>\n1,029.6<\/td>\n<\/tr>\n
Floater<\/td>\n4.50%<\/td>\n-20.29%<\/td>\n65,960<\/td>\n6.52<\/td>\n5<\/td>\n-0.1168%<\/td>\n1,029.2<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.67%<\/td>\n1.19%<\/td>\n79,687<\/td>\n2.27<\/td>\n18<\/td>\n+0.0255%<\/td>\n1,026.7<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.01%<\/td>\n3.50%<\/td>\n162,372<\/td>\n3.33<\/td>\n9<\/td>\n+0.0022%<\/td>\n1,027.5<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.94%<\/td>\n5.70%<\/td>\n63,121<\/td>\n2.37<\/td>\n7<\/td>\n-0.2222%<\/td>\n1,015.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.07%<\/td>\n3.90%<\/td>\n227,615<\/td>\n4.23<\/td>\n49<\/td>\n0.0047%<\/td>\n1,043.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.58%<\/td>\n4.61%<\/td>\n567,932<\/td>\n14.81<\/td>\n7<\/td>\n-0.0051%<\/td>\n1,038.2<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BSD.PR.A<\/td>\nInterestBearing<\/td>\n-1.5228%<\/td>\nTraded as low as $9.30 in the morning but found a bid in the afternoon to close at 9.70-78, 10×8. This has been very volatile following the Income Trick or Trust (the underlying security is Income Trusts) – last mention here was November 10th<\/a>.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nVolume<\/td>\nNotes<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nPerpetualPremium<\/td>\n40,875<\/td>\nYTW at the closing bid of 25.44 is only 4.33%, based on a call at $25.00 2014-4-18. Doesn’t seem like much, especially since the MFC.PR.C (which are, if anything, more liquid) are quoted at $25.00-bid to yield 4.47% to a call 2015-4-18. I think both issues are expensive, but what do I know? Since the annual coupon is less than $0.04 different, people seem to be willing to pay a whole lot of money for not very much interest-rate-rise-protection<\/a>!<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n39,286<\/td>\nThis is getting boring<\/a>. High volumes in this issue are persisting FOREVER!<\/td>\n<\/tr>\n
CM.PR.B<\/td>\nPerpetualPremium<\/td>\n37,700<\/td>\nAnother repeater! At least this won’t be around much longer<\/a>.<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetualDiscount<\/td>\n34,620<\/td>\nSee discussion of MFC.PR.B, above<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualPremium<\/td>\n34,325<\/td>\nCould be people clearing some shelf-space for the new issue<\/a> that’s supposed to settle tomorrow. And will, I’m sure! The CM.PR.H closed at $25.45-bid for a pre-tax YTW of 4.58%, based on a call 2014-4-29 at $25.00. The new issue comes with a 4.7% coupon, so should have a pretty good day.<\/td>\n<\/tr>\n<\/table>\n

There were ten other index-included issues trading over 10,000 shares today.\n<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version Index Mean Current Yield (at bid) Mean YTW Mean Average Trading Value Mean Mod Dur …<\/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-286","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/286","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=286"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/286\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}