{"id":32253,"date":"2006-08-29T20:42:51","date_gmt":"2006-08-30T00:42:51","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=92"},"modified":"2006-08-29T20:42:51","modified_gmt":"2006-08-30T00:42:51","slug":"august-29-2006","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32253","title":{"rendered":"August 29, 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>\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>\n4.40%<\/td>\n4.36%<\/td>\n29,445<\/td>\n16.60<\/td>\n2<\/td>\n0.0205%<\/td>\n987.6<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.00%<\/td>\n4.23%<\/td>\n297,397<\/td>\n13.90<\/td>\n6<\/td>\n-0.7880%<\/td>\n992.5<\/td>\n<\/tr>\n
Floater<\/td>\n4.59%<\/td>\n-17.67%<\/td>\n62,819<\/td>\n6.45<\/td>\n5<\/td>\n-0.2588%<\/td>\n1,008.1<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.71%<\/td>\n2.92%<\/td>\n74,696<\/td>\n2.61<\/td>\n18<\/td>\n-0.0591%<\/td>\n1,005.8<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.00%<\/td>\n3.34%<\/td>\n54,793<\/td>\n2.74<\/td>\n10<\/td>\n0.0490%<\/td>\n1,007.0<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.83%<\/td>\n5.08%<\/td>\n59,137<\/td>\n2.12<\/td>\n7<\/td>\n0.1998%<\/td>\n1,015.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.25%<\/td>\n4.06%<\/td>\n156,781<\/td>\n3.80<\/td>\n42<\/td>\n0.1772%<\/td>\n1,016.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.70%<\/td>\n4.70%<\/td>\n333,155<\/td>\n12.37<\/td>\n13<\/td>\n0.1058%<\/td>\n1,025.8<\/td>\n<\/tr>\n<\/table>\n\n\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
BC.PR.B<\/td>\nFixedFloater<\/td>\n-5.7338%<\/td>\nA sale of 650 shares by RBC (retail, surely!) took out the bid with a closing price of $24.50 and left the closing bid at $23.51. It’s probable that a bid will be back tomorrow … but on the other hand, this trade occurred at 2:40pm and nothing had materialized by way of a bid until the 4pm close<\/td>\n<\/tr>\n
AL.PR.E<\/td>\nFloater<\/td>\n-1.3208%<\/td>\nTotal volume 8,800 shares, a relatively active day for this issue.<\/td>\n<\/tr>\n
FFN.PR.A<\/td>\nSplitShare<\/td>\n-1.2915%<\/td>\nClosing bid = closing price = $10.37, implying a YTW of 4.02% on this issue, above average for a split-share.<\/td>\n<\/tr>\n
PWF.PR.J<\/td>\nOpRet<\/td>\n-1.0428%<\/td>\nVolume 4,175 shares, marginally above average for this issue<\/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>\nPerpetualDiscount<\/td>\n127,277<\/td>\n\u00a0<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nPerpetualDiscount<\/td>\n60,880<\/td>\nRBC bought 50,000 from TD just before the close @25.20<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n51,750<\/td>\nScotia crossed 50,000 @ 24.30<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nPerpetualDiscount<\/td>\n34,600<\/td>\nNesbitt bought 32,000 in five tranches – 1,000 from CIBC, the remainder from RBC<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nPerpetualDiscount<\/td>\n24,200<\/td>\nNesbitt executed an internal cross of 23,800 shares at $24.91<\/td>\n<\/tr>\n<\/table>\n

There were thirteen other index-included issues with volumes of more than 10,000 shares.<\/p>\n

\u00a0Another strong day, at least for the perpetuals! Strong enough, in fact, that two issues crossed over into negative YTW territory:<\/p>\n

\u00a0ENB.PR.A is now bid at $25.69 even though it is currently callable at $25.50, with the redemption price slated to tick down a quarter in December.<\/p>\n

RY.PR.O is now bid at $25.70, although it is currently callable at $25.50; the redemption price will next\u00a0tick down a quarter in August 2007.<\/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 Current Yield (at bid) YTW Average Trading Value Mod Dur (YTW) Issues Day’s Perf. …<\/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-32253","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32253","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=32253"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32253\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}