{"id":32194,"date":"2006-07-20T22:17:14","date_gmt":"2006-07-21T02:17:14","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=27"},"modified":"2006-07-20T22:17:14","modified_gmt":"2006-07-21T02:17:14","slug":"july-20-2006","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32194","title":{"rendered":"July 20, 2006"},"content":{"rendered":"\n\n\n\n\n\n\n\n\n
Index<\/td>\nCurrent Yield (at bid)<\/td>\nYTW<\/td>\nAverage Trading Value<\/td>\nMod Dur (YTW)<\/td>\nIssues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n4.10%<\/td>\n4.11%<\/td>\n108,185<\/td>\n17.23<\/td>\n2<\/td>\n0.2405%<\/td>\n998.4<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.21%<\/td>\n4.12%<\/td>\n96,213<\/td>\n13.48<\/td>\n5<\/td>\n-0.0707%<\/td>\n996.5<\/td>\n<\/tr>\n
Floater<\/td>\n4.55%<\/td>\n-14.26%<\/td>\n61,650<\/td>\n6.44<\/td>\n5<\/td>\n-0.1351%<\/td>\n1000.3<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.75%<\/td>\n3.58%<\/td>\n81,962<\/td>\n3.18<\/td>\n18<\/td>\n-0.0766%<\/td>\n992.1<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.17%<\/td>\n2.74%<\/td>\n53,109<\/td>\n2.78<\/td>\n14<\/td>\n0.0045%<\/td>\n998.9<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.87%<\/td>\n5.29%<\/td>\n67,915<\/td>\n2.23<\/td>\n7<\/td>\n+0.0033%<\/td>\n1,008.08<\/td>\n<\/tr>\n
Perpetual<\/td>\n5.20%<\/td>\n4.71%<\/td>\n197,997<\/td>\n7.01<\/td>\n54<\/td>\n-0.0897%<\/td>\n1,001.0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
W.PR.J<\/td>\nPerpetual<\/td>\n-1.07%<\/td>\nGaps lower on higher than normal volume and trades at 52-week low<\/td>\n<\/tr>\n
RY.PR.B<\/td>\nPerpetual<\/td>\n-2.80%<\/td>\nNew issue not well received at all! See new issue posting<\/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
RY.PR.B<\/td>\nPerpetual<\/td>\n41,040<\/td>\nDown a lot from new issue price! See new issue posting<\/a><\/td>\n<\/tr>\n
BCE.PR.C<\/td>\nFixedFloater<\/td>\n29,650<\/td>\nRBC crossed 26,800 @ 25.40 (=bid). This issue becomes a ratchet rate in Mar\/08<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nPerpetual<\/td>\n21,333<\/td>\nTD sold total 10,900 shortly prior to close, almost all at $24.36 (was 24.55-65 yesterday)<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual<\/td>\n19,800<\/td>\n\u00a0<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nPerpetual<\/td>\n12,615<\/td>\nTraded in range 24.80-89<\/td>\n<\/tr>\n<\/table>\n

An active day! There were 12 issues trading in excess of 10,000, with the real driver, it appears, being the horrible reception of the RY.PR.B, which commenced trading at a disasterous discount to their issue price.<\/p>\n

\u00a0Let’s see … the bid is now $24.30 … the issue price was $25.00 … 12-million shares were issued … carry one and move the decimal … that a loss of $8.4-million! Some of this seems to be an over-reaction (see Crazy Pricing!<\/a>, but never-the-less, $8.4-million is a lot of money to drop in my neighborhood. See what happens when you don’t subscribe to HIMIPref<\/a>?\n<\/p>\n

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

Index Current Yield (at bid) YTW Average Trading Value Mod Dur (YTW) Issues Day’s Perf. Index Value Ratchet 4.10% 4.11% 108,185 17.23 2 0.2405% 998.4 Fixed-Floater 5.21% 4.12% 96,213 13.48 5 -0.0707% 996.5 Floater 4.55% …<\/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-32194","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32194","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=32194"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32194\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}