{"id":29945,"date":"2015-07-28T22:48:29","date_gmt":"2015-07-29T03:48:29","guid":{"rendered":"http:\/\/prefblog.com\/?p=29945"},"modified":"2015-07-28T22:48:29","modified_gmt":"2015-07-29T03:48:29","slug":"july-28-2015","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=29945","title":{"rendered":"July 28, 2015"},"content":{"rendered":"

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

It was another rotten day for the Canadian preferred share market, with PerpetualDiscounts losing 28bp, FixedResets off 4bp and DeemedRetractibles down 19bp. The Performance Highlights table is predictably lengthy. Volume was below average.<\/p>\n

For as long as the FixedReset market is so violently unsettled, I\u2019ll keep publishing updates of the more interesting and meaningful series of FixedResets\u2019 Implied Volatilities. This doesn\u2019t include Enbridge because although Enbridge has a large number of issues outstanding, all of which are quite liquid, the range of Issue Reset Spreads is too small for decent conclusions. The low is 212bp (ENB.PR.H; second-lowest is ENB.PR.D at 237bp) and the high is a mere 268 for ENB.PF.G.<\/p>\n

Remember that all rich \/cheap assessments are:
\n\u00bb based on Implied Volatility Theory only
\n\u00bb are relative only to other FixedResets from the same issuer
\n\u00bb assume constant GOC-5 yield
\n\u00bb assume constant Implied Volatility
\n\u00bb assume constant spread<\/p>\n

Here\u2019s TRP:<\/p>\n

\"impVol_TRP_150728\"<\/a>
Click for Big<\/i><\/div>\n

TRP.PR.E, which resets 2019-10-30 at +235, is bid at 21.67 to be $0.56 rich, while TRP.PR.C, resetting 2016-1-30 at +154, is $0.83 cheap at its bid price of 15.50.<\/p>\n

\"impVol_MFC_150728\"<\/a>
Click for Big<\/i><\/div>\n

Another good fit today!<\/p>\n

Most expensive is MFC.PR.L, resetting at +216bp on 2019-6-19, bid at 22.01 to be $0.37 rich, while MFC.PR.M, resetting at +236bp on 2019-12-19, is bid at 22.32 to be $0.35 cheap.<\/p>\n

\"impVol_BAM_150728\"<\/a>
Click for Big<\/i><\/div>\n

The cheapest issue relative to its peers is BAM.PR.R, resetting at +230bp on 2016-6-30, bid at 18.41 to be $0.85 cheap. BAM.PF.E, resetting at +255bp on 2020-3-31 is bid at 22.10 and appears to be $1.26 rich.<\/p>\n

\"impVol_FTS_150728\"<\/a>
Click for Big<\/i><\/div>\n

FTS.PR.K, with a spread of +205bp, and bid at 21.55, looks $0.90 expensive and resets 2019-3-1. FTS.PR.G, with a spread of +213bp and resetting 2018-9-1, is bid at 20.36 and is $0.79 cheap.<\/p>\n

\"pairs_FR_150728\"<\/a>
Click for Big<\/i><\/div>\n

Investment-grade pairs predict an average three-month bill yield over the next five-odd years of -0.01%, with one outlier above 1.00%. There are no junk outliers.<\/p>\n

\"pairs_FF_150728\"<\/a>
Click for Big<\/i><\/div>\n

Shall we just say that this exhibits a high level of confidence in the continued rapacity of Canadian banks?<\/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>\n0.2446 %<\/td>\n2,121.1<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2446 %<\/td>\n3,708.7<\/td>\n<\/tr>\n
Floater<\/td>\n3.46 %<\/td>\n3.47 %<\/td>\n57,220<\/td>\n18.59<\/td>\n3<\/td>\n0.2446 %<\/td>\n2,254.9<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1070 %<\/td>\n2,781.1<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.57 %<\/td>\n4.91 %<\/td>\n62,461<\/td>\n3.17<\/td>\n3<\/td>\n0.1070 %<\/td>\n3,259.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1070 %<\/td>\n2,543.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.55 %<\/td>\n5.09 %<\/td>\n70,069<\/td>\n2.25<\/td>\n13<\/td>\n-0.1530 %<\/td>\n2,500.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.35 %<\/td>\n5.38 %<\/td>\n85,562<\/td>\n14.82<\/td>\n23<\/td>\n-0.2808 %<\/td>\n2,655.2<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.66 %<\/td>\n3.78 %<\/td>\n213,402<\/td>\n16.20<\/td>\n88<\/td>\n-0.0368 %<\/td>\n2,257.3<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.07 %<\/td>\n5.22 %<\/td>\n105,889<\/td>\n5.48<\/td>\n34<\/td>\n-0.1870 %<\/td>\n2,599.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.39 %<\/td>\n3.17 %<\/td>\n43,706<\/td>\n6.04<\/td>\n10<\/td>\n0.4564 %<\/td>\n2,272.2<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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
HSE.PR.C<\/td>\nFixedReset<\/td>\n-2.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 21.73
\nEvaluated at bid price : 22.10
\nBid-YTW : 4.47 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset<\/td>\n-2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.22
\nEvaluated at bid price : 22.57
\nBid-YTW : 4.17 %<\/td>\n<\/tr>\n
ENB.PR.P<\/td>\nFixedReset<\/td>\n-1.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 17.10
\nEvaluated at bid price : 17.10
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset<\/td>\n-1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 21.44
\nEvaluated at bid price : 21.70
\nBid-YTW : 3.55 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 23.19
\nEvaluated at bid price : 23.49
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.16
\nEvaluated at bid price : 22.67
\nBid-YTW : 3.51 %<\/td>\n<\/tr>\n
ENB.PR.N<\/td>\nFixedReset<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 4.98 %<\/td>\n<\/tr>\n
IGM.PR.B<\/td>\nPerpetual-Premium<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-12-31
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.26
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n
ENB.PR.Y<\/td>\nFixedReset<\/td>\n-1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 17.36
\nEvaluated at bid price : 17.36
\nBid-YTW : 4.72 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n-1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 21.02
\nEvaluated at bid price : 21.02
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.02
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.26
\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n
ENB.PR.T<\/td>\nFixedReset<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 17.30
\nEvaluated at bid price : 17.30
\nBid-YTW : 4.86 %<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nDeemed-Retractible<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.14
\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.05
\nEvaluated at bid price : 22.51
\nBid-YTW : 3.51 %<\/td>\n<\/tr>\n
HSB.PR.C<\/td>\nDeemed-Retractible<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.76
\nBid-YTW : 5.38 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nDeemed-Retractible<\/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 : 23.00
\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n-1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.65
\nBid-YTW : 3.16 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 21.83
\nEvaluated at bid price : 22.11
\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 16.72
\nEvaluated at bid price : 16.72
\nBid-YTW : 3.97 %<\/td>\n<\/tr>\n
HSE.PR.E<\/td>\nFixedReset<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.75
\nEvaluated at bid price : 23.90
\nBid-YTW : 4.43 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.50
\nEvaluated at bid price : 23.45
\nBid-YTW : 3.86 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 14.13
\nEvaluated at bid price : 14.13
\nBid-YTW : 3.37 %<\/td>\n<\/tr>\n
BAM.PF.F<\/td>\nFixedReset<\/td>\n1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.47
\nEvaluated at bid price : 23.26
\nBid-YTW : 3.95 %<\/td>\n<\/tr>\n
ELF.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 24.22
\nEvaluated at bid price : 24.51
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset<\/td>\n1.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.43
\nBid-YTW : 4.39 %<\/td>\n<\/tr>\n
TRP.PR.H<\/td>\nFloatingReset<\/td>\n2.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 15.25
\nEvaluated at bid price : 15.25
\nBid-YTW : 2.77 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset<\/td>\n2.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.85
\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\n3.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.10
\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n5.83 %<\/td>\nReverses yesterday<\/a>‘s nonsense.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 17.05
\nEvaluated at bid price : 17.05
\nBid-YTW : 3.42 %<\/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
TRP.PR.C<\/td>\nFixedReset<\/td>\n253,521<\/td>\nTD crossed blocks of 150,000 shares, 40,000 and 52,200, all at 15.45.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 15.50
\nEvaluated at bid price : 15.50
\nBid-YTW : 3.56 %<\/td>\n<\/tr>\n
TD.PF.E<\/td>\nFixedReset<\/td>\n77,136<\/td>\nRBC crossed 75,000 at 24.80.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 23.04
\nEvaluated at bid price : 24.70
\nBid-YTW : 3.47 %<\/td>\n<\/tr>\n
TRP.PR.H<\/td>\nFloatingReset<\/td>\n67,350<\/td>\nNational bought 11,200 shares from anonymous at 15.50, then two blocks of 10,000 each and one of 25,700 from TD, all at the same price.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 15.25
\nEvaluated at bid price : 15.25
\nBid-YTW : 2.77 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n33,237<\/td>\nDesjardins crossed 27,100 at 15.70.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 15.51
\nEvaluated at bid price : 15.51
\nBid-YTW : 3.97 %<\/td>\n<\/tr>\n
HSE.PR.G<\/td>\nFixedReset<\/td>\n31,537<\/td>\nRBC bought 12,100 from TD at 23.21.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.39
\nEvaluated at bid price : 23.19
\nBid-YTW : 4.60 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset<\/td>\n20,156<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 21.91
\nEvaluated at bid price : 22.30
\nBid-YTW : 3.37 %<\/td>\n<\/tr>\n
There were 23 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
TD.PF.A<\/td>\nFixedReset<\/td>\nQuote: 22.05 – 22.78
\nSpot Rate : 0.7300
\nAverage : 0.4805<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 21.71
\nEvaluated at bid price : 22.05
\nBid-YTW : 3.47 %<\/td>\n<\/tr>\n

CU.PR.D<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.09 – 23.69
\nSpot Rate : 0.6000
\nAverage : 0.3736<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.76
\nEvaluated at bid price : 23.09
\nBid-YTW : 5.38 %<\/td>\n<\/tr>\n

TD.PF.B<\/td>\nFixedReset<\/td>\nQuote: 21.95 – 22.45
\nSpot Rate : 0.5000
\nAverage : 0.2987<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 21.65
\nEvaluated at bid price : 21.95
\nBid-YTW : 3.48 %<\/td>\n<\/tr>\n

BAM.PR.C<\/td>\nFloater<\/td>\nQuote: 13.12 – 13.92
\nSpot Rate : 0.8000
\nAverage : 0.6261<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 13.12
\nEvaluated at bid price : 13.12
\nBid-YTW : 3.63 %<\/td>\n<\/tr>\n

RY.PR.M<\/td>\nFixedReset<\/td>\nQuote: 23.80 – 24.40
\nSpot Rate : 0.6000
\nAverage : 0.4319<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-07-28
\nMaturity Price : 22.67
\nEvaluated at bid price : 23.80
\nBid-YTW : 3.41 %<\/td>\n<\/tr>\n

MFC.PR.K<\/td>\nFixedReset<\/td>\nQuote: 21.75 – 22.29
\nSpot Rate : 0.5400
\nAverage : 0.4054<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.75
\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Nothing happened today, either. BORING! It was another rotten day for the Canadian preferred share market, with PerpetualDiscounts losing 28bp, FixedResets off 4bp and DeemedRetractibles down 19bp. The Performance Highlights table is predictably lengthy. 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-29945","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/29945","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=29945"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/29945\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}