{"id":3299,"date":"2008-10-06T23:49:30","date_gmt":"2008-10-07T03:49:30","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=3299"},"modified":"2008-10-06T23:49:30","modified_gmt":"2008-10-07T03:49:30","slug":"october-6-2008","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=3299","title":{"rendered":"October 6, 2008"},"content":{"rendered":"

Total, Utter Carnage<\/a>:<\/p>\n

Canadian stocks fell, sending the main index to the lowest in three years, as commodity producers slid on concern their profits will be hurt by a global recession.
…<\/b>
The S&P\/TSX fell 5.3 percent to 10,230.43 in Toronto and earlier slid 11 percent for its biggest intraday drop since the “Black Monday” crash of Oct. 19, 1987. Canada’s main index is trading at the lowest level since October 2005, having fallen 32 percent from its June 18 record. All 10 industry groups in the S&P\/TSX retreated today as 13 stocks out of 244 rose in Toronto.<\/p><\/blockquote>\n

Preferred Shares were not immune, with the TXPR down 1.71% compared to the TSX’s 5.30%. PerpetualDiscounts had their worst single day since I started doing these indices 2006-6-30 … the second worst day was a loss of a mere 2.183%. They closed with a weighted-mean average pre-tax bid-YTW of 6.56%, equivalent to 9.18% interest at the standard 1.4x factor. Long corporates closed with a yield of about 6.7%, so the spread is now about 248bp. The recent peak in PerpetualDiscount yield was 6.63% on July 16.<\/p>\n

Volume wasn’t particularly heavy today, but there were quite a few SplitShare preferreds trading well above average volumes. Bid-Ask spreads were enormous, and the market is very, very sloppy.<\/p>\n

We will see what tomorrow brings!<\/p>\n

\n\n\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. In this version, index values are based at 1,000.0 on 2006-6-30.
The Fixed-Reset<\/i> index was added effective 2008-9-5 at that day’s closing value of 1,119.4 for the Fixed-Floater<\/i> index.<\/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>\nN\/A<\/td>\nN\/A<\/td>\nN\/A<\/td>\nN\/A<\/td>\n0<\/td>\nN\/A<\/td>\nN\/A<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.90%<\/td>\n5.03%<\/td>\n79,903<\/td>\n15.48<\/td>\n6<\/td>\n-1.0852%<\/td>\n1,050.6<\/td>\n<\/tr>\n
Floater<\/td>\n5.60%<\/td>\n5.64%<\/td>\n49,408<\/td>\n14.47<\/td>\n2<\/td>\n-3.4386%<\/td>\n719.3<\/td>\n<\/tr>\n
Op. Retract<\/td>\n5.18%<\/td>\n5.62%<\/td>\n124,524<\/td>\n3.68<\/td>\n14<\/td>\n-1.1827%<\/td>\n1,013.4<\/td>\n<\/tr>\n
Split-Share<\/td>\n6.04%<\/td>\n9.07%<\/td>\n57,254<\/td>\n4.04<\/td>\n12<\/td>\n-3.2975%<\/td>\n932.4<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.76%<\/td>\n8.99%<\/td>\n43,738<\/td>\n3.68<\/td>\n3<\/td>\n-4.6180%<\/td>\n1,022.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n6.44%<\/td>\n6.48%<\/td>\n55,467<\/td>\n13.20<\/td>\n1<\/td>\n-1.6613%<\/td>\n964.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.49%<\/td>\n6.56%<\/td>\n178,147<\/td>\n13.15<\/td>\n70<\/td>\n-2.6004%<\/td>\n827.5<\/td>\n<\/tr>\n
Fixed-Reset<\/td>\n5.24%<\/td>\n5.10%<\/td>\n1,109,234<\/td>\n15.21<\/td>\n10<\/td>\n-0.9498%<\/td>\n1,089.4<\/td>\n<\/tr>\n<\/table>\n<\/div>\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\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\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
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BNA.PR.B<\/td>\nSplitShare<\/td>\n-12.5397%<\/td>\nAsset coverage of 3.2+:1 as of August 31 according to the company<\/a>. Coverage now of 2.4+:1 based on BAM.A at 25.27 and 2.4 BAM.A held per preferred<\/a>. Now with a pre-tax bid-YTW of 12.13% (!) based on a bid of 16.53 and a hardMaturity 2016-3-25 at 25.00. Compare with BNA.PR.A (10.75% to 2010-9-30) and BNA.PR.C (12.27% to 2019-1-10). As with much else today, this one looks worse than it is … the closing quote was 16.53-17.49, 2×1, but the day’s low was 17.00 … which was still way worse than the previous 52-week low of 18.75. The underlying security of this split share, BAM.A, actually outperformed other equities today, down a mere 3.40%.<\/td>\n<\/tr>\n
NA.PR.N<\/td>\nFixedReset<\/td>\n-9.9600%<\/td>\nOne of the Toronto Stock Exchange’s favourite quotes, 22.51-25.09. Low for the day was 25.00.<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nPerpetualDiscount<\/td>\n-7.9126%<\/td>\nNow with a pre-tax bid-YTW of 6.92% based on a bid of 18.97 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
BSD.PR.A<\/td>\nInterestBearing<\/td>\n-7.5342%<\/td>\nAsset coverage of just under 1.3:1 as of October 3, according to Brookfield Funds<\/a>. The asset coverage implies no more distributions to capital units<\/a>. Now with a pre-tax bid-YTW of 10.24% based on a bid of 8.10 and a hardMaturity 2015-3-31 at 10.00.<\/td>\n<\/tr>\n
BNA.PR.C<\/td>\nSplitShare<\/td>\n-7.1332%<\/td>\nSee BNA.PR.B, above<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetualDiscount<\/td>\n-6.7708%<\/td>\nNow with a pre-tax bid-YTW of 6.52% based on a bid of 17.90 and a limitMaturity.<\/td>\n<\/tr>\n
WFS.PR.A<\/td>\nSplitShare<\/td>\n-6.2718%<\/td>\nAsset coverage of 1.5+:1 as of September 30, according to Mulvihill<\/a>. Now with a pre-tax bid-YTW of 14.16% based on a bid of 8.07 and a hardMaturity<\/a> 2011-6-30. Below $9, some might find even the regular monthly retraction<\/a> to be attractive.<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetualDiscount<\/td>\n-6.0477%<\/td>\nNow with a pre-tax bid-YTW of 6.43% based on a bid of 17.71 and a limitMaturity.<\/td>\n<\/tr>\n
W.PR.J<\/td>\nPerpetualDiscount<\/td>\n-5.9512%<\/td>\nNow with a pre-tax bid-YTW of 7.31% based on a bid of 19.28 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetualDiscount<\/td>\n-5.7980%<\/td>\nNow with a pre-tax bid-YTW of 8.31% based on a bid of 14.46 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.E<\/td>\nPerpetualDiscount<\/td>\n-4.9744%<\/td>\nNow with a pre-tax bid-YTW of 7.59% based on a bid of 18.53 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.I<\/td>\nPerpetualDiscount<\/td>\n-4.9469%<\/td>\nNow with a pre-tax bid-YTW of 6.58% based on a bid of 23.25 and a limitMaturity.<\/td>\n<\/tr>\n
TD.PR.N<\/td>\nOpRet<\/td>\n-4.8573%<\/td>\nNow with a pre-tax bid-YTW of 5.39% based on a bid of 24.05 and a softMaturity 2014-1-30 … but don’t get your hopes up! The closing quote was 24.05-25.49, 7×20, and the low for the day was 25.50.<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetualDiscount<\/td>\n-4.8387%<\/td>\nNow with a pre-tax bid-YTW of 8.14% based on a bid of 14.75 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualDiscount<\/td>\n-4.6226%<\/td>\nNow with a pre-tax bid-YTW of 7.39% based on a bid of 16.30 and a limitMaturity.<\/td>\n<\/tr>\n
ELF.PR.G<\/td>\nPerpetualDiscount<\/td>\n-4.5714%<\/td>\nNow with a pre-tax bid-YTW of 7.96% based on a bid of 15.03 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetualDiscount<\/td>\n-4.3197%<\/td>\nNow with a pre-tax bid-YTW of 6.62% based on a bid of 22.15 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-4.2969%<\/td>\n <\/td>\n<\/tr>\n
NA.PR.M<\/td>\nPerpetualDiscount<\/td>\n-4.2289%<\/td>\nNow with a pre-tax bid-YTW of 6.61% based on a bid of 23.10 and a limitMaturity.<\/td>\n<\/tr>\n
FIG.PR.A<\/td>\nInterestBearing<\/td>\n-4.1451%<\/td>\nAsset coverage of 1.6+:1 as of October 3, according to Faircourt<\/a>. Now with a pre-tax bid-YTW of 7.88% based on a bid of 9.25 and a hardMaturity 2014-12-31 at 10.00.<\/td>\n<\/tr>\n
NA.PR.L<\/td>\nPerpetualDiscount<\/td>\n-4.0795%<\/td>\nNow with a pre-tax bid-YTW of 7.69% based on a bid of 18.80 and a limitMaturity.<\/td>\n<\/tr>\n
LFE.PR.A<\/td>\nSplitShare<\/td>\n-4.0795%<\/td>\nAsset coverage of 2.2+:1 as of September 15 according to the company<\/a>. Now with a pre-tax bid-YTW of 7.69% based on a bid of 9.17 and a hardMaturity 2012-12-1 at 10.00<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nPerpetualDiscount<\/td>\n-3.9256%<\/td>\nNow with a pre-tax bid-YTW of 6.07% based on a bid of 18.60 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetualDiscount<\/td>\n-3.8710%<\/td>\nNow with a pre-tax bid-YTW of 6.73% based on a bid of 19.37 and a limitMaturity.<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nPerpetualDiscount<\/td>\n-3.8101%<\/td>\nNow with a pre-tax bid-YTW of 6.92% based on a bid of 16.41 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.G<\/td>\nPerpetualDiscount<\/td>\n-3.6979%<\/td>\nNow with a pre-tax bid-YTW of 7.33% based on a bid of 18.49 and a limitMaturity.<\/td>\n<\/tr>\n
ELF.PR.F<\/td>\nPerpetualDiscount<\/td>\n-3.4562%<\/td>\nNow with a pre-tax bid-YTW of 7.96% based on a bid of 16.76 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.J<\/td>\nPerpetualDiscount<\/td>\n-3.2953%<\/td>\nNow with a pre-tax bid-YTW of 5.96% based on a bid of 22.01 and a limitMaturity.<\/td>\n<\/tr>\n
DFN.PR.A<\/td>\nSplitShare<\/td>\n-3.2330%<\/td>\nAsset coverage of just under 2.2:1 as of September 30, according to the company<\/a>. Now with a pre-tax bid-YTW of 8.09% based on a bid of 8.68 and a hardMaturity 2014-12-1 at 10.00.<\/td>\n<\/tr>\n
BMO.PR.K<\/td>\nPerpetualDiscount<\/td>\n-3.1175%<\/td>\nNow with a pre-tax bid-YTW of 6.61% based on a bid of 20.20 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetualDiscount<\/td>\n-3.0923%<\/td>\nNow with a pre-tax bid-YTW of 6.29% based on a bid of 21.31 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nPerpetualDiscount<\/td>\n-3.0769%<\/td>\nNow with a pre-tax bid-YTW of 5.97% based on a bid of 18.90 and a limitMaturity.<\/td>\n<\/tr>\n
NA.PR.K<\/td>\nPerpetualDiscount<\/td>\n-3.0108%<\/td>\nNow with a pre-tax bid-YTW of 6.60% based on a bid of 22.55 and a limitMaturity.<\/td>\n<\/tr>\n
HSB.PR.D<\/td>\nPerpetualDiscount<\/td>\n-2.8871%<\/td>\nNow with a pre-tax bid-YTW of 6.82% based on a bid of 18.50 and a limitMaturity.<\/td>\n<\/tr>\n
TD.PR.Q<\/td>\nPerpetualDiscount<\/td>\n-2.8807%<\/td>\nNow with a pre-tax bid-YTW of 6.03% based on a bid of 23.25 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.H<\/td>\nOpRet<\/td>\n-2.8807%<\/td>\nNow with a pre-tax bid-YTW of 7.71% based on a bid of 23.60 and a softMaturity<\/a> 2012-3-30 at 25.00. Compare with BAM.PR.I (7.45% to 2013-12-30), BAM.PR.J (9.43% to 2018-3-30) and BAM.PR.O (9.35% to 2013-6-30); and with the perpetuals at 8.14% and 8.31%.<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nPerpetualDiscount<\/td>\n-2.8655%<\/td>\nNow with a pre-tax bid-YTW of 7.10% based on a bid of 16.61 and a limitMaturity.<\/td>\n<\/tr>\n
TD.PR.O<\/td>\nPerpetualDiscount<\/td>\n-2.8629%<\/td>\nNow with a pre-tax bid-YTW of 6.31% based on a bid of 19.27 and a limitMaturity.<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetualDiscount<\/td>\n-2.7715%<\/td>\nNow with a pre-tax bid-YTW of 6.58% based on a bid of 21.40 and a limitMaturity.<\/td>\n<\/tr>\n
TCA.PR.X<\/td>\nPerpetualDiscount<\/td>\n-2.6661%<\/td>\nNow with a pre-tax bid-YTW of 6.17% based on a bid of 45.27 and a limitMaturity.<\/td>\n<\/tr>\n
STW.PR.A<\/td>\nInterestBearing<\/td>\n-2.6236%<\/td>\nAsset coverage of just under 1.7:1 as of September 25, according to Middlefield<\/a>. Now with a pre-tax bid-YTW of 9.00% (mostly as interest) based on a bid of 9.65 and a hardMaturity 2009-12-31.<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nPerpetualDiscount<\/td>\n-2.6111%<\/td>\nNow with a pre-tax bid-YTW of 6.40% based on a bid of 17.53 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetualDiscount<\/td>\n-2.6091%<\/td>\nNow with a pre-tax bid-YTW of 6.42% based on a bid of 19.41 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-2.5974%<\/td>\n <\/td>\n<\/tr>\n
FBS.PR.B<\/td>\nSplitShare<\/td>\n-2.5946%<\/td>\nAsset coverage of 1.5+:1 as of October 2, according to TD Securities<\/a>. Now with a pre-tax bid-YTW of 8.51% based on a bid of 9.01 and a hardMaturity 2011-12-15 at 10.00.<\/td>\n<\/tr>\n
BNS.PR.N<\/td>\nPerpetualDiscount<\/td>\n-2.5232%<\/td>\nNow with a pre-tax bid-YTW of 5.97% based on a bid of 22.02 and a limitMaturity.<\/td>\n<\/tr>\n
FFN.PR.A<\/td>\nSplitShare<\/td>\n-2.5200%<\/td>\nAsset coverage of 1.8+:1 as of September 30, according to the company<\/a>. Now with a pre-tax bid-YTW of 8.49% based on a bid of 8.51 and a hardMaturity 2014-12-1 at 10.00.<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetualDiscount<\/td>\n-2.4537%<\/td>\nNow with a pre-tax bid-YTW of 6.93% based on a bid of 21.07 and a limitMaturity.<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetualDiscount<\/td>\n-2.3642%<\/td>\nNow with a pre-tax bid-YTW of 6.94% based on a bid of 19.41 and a limitMaturity.<\/td>\n<\/tr>\n
BMO.PR.L<\/td>\nPerpetualDiscount<\/td>\n-2.3555%<\/td>\nNow with a pre-tax bid-YTW of 6.46% based on a bid of 22.80 and a limitMaturity.<\/td>\n<\/tr>\n
BCE.PR.C<\/td>\nFixFloat<\/td>\n-2.3355%<\/td>\n <\/td>\n<\/tr>\n
BCE.PR.Y<\/td>\nRatchet<\/td>\n-2.2869%<\/td>\n <\/td>\n<\/tr>\n
BNS.PR.O<\/td>\nPerpetualDiscount<\/td>\n-2.2727%<\/td>\nNow with a pre-tax bid-YTW of 5.92% based on a bid of 23.65 and a limitMaturity.<\/td>\n<\/tr>\n
CU.PR.A<\/td>\nPerpetualDiscount<\/td>\n-2.2718%<\/td>\nNow with a pre-tax bid-YTW of 6.09% based on a bid of 24.09 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nOpRet<\/td>\n-2.2346%<\/td>\nNow with a pre-tax bid-YTW of 5.53% based on a bid of 24.50 and a softMaturity 2013-4-29 at 25.00.<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nPerpetualDiscount<\/td>\n-2.1905%<\/td>\nNow with a pre-tax bid-YTW of 5.86% based on a bid of 20.54 and a limitMaturity.<\/td>\n<\/tr>\n
ENB.PR.A<\/td>\nPerpetualDiscount<\/td>\n-2.1702%<\/td>\nNow with a pre-tax bid-YTW of 6.05% based on a bid of 22.99 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nPerpetualDiscount<\/td>\n-2.1413%<\/td>\nNow with a pre-tax bid-YTW of 6.28% based on a bid of 22.85 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.J<\/td>\nPerpetualDiscount<\/td>\n-2.1407%<\/td>\nNow with a pre-tax bid-YTW of 7.06% based on a bid of 16.00 and a limitMaturity.<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nPerpetualDiscount<\/td>\n-2.1399%<\/td>\nNow with a pre-tax bid-YTW of 6.27% based on a bid of 18.75 and a limitMaturity.<\/td>\n<\/tr>\n
BCE.PR.G<\/td>\nFixFloat<\/td>\n-2.1304%<\/td>\n <\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nPerpetualDiscount<\/td>\n-2.1217%<\/td>\nNow with a pre-tax bid-YTW of 6.48% based on a bid of 17.53 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nPerpetualDiscount<\/td>\n-2.0931%<\/td>\nNow with a pre-tax bid-YTW of 6.41% based on a bid of 18.71 and a limitMaturity.<\/td>\n<\/tr>\n
CU.PR.B<\/td>\nPerpetualDiscount<\/td>\n-2.0808%<\/td>\nNow with a pre-tax bid-YTW of 6.33% based on a bid of 24.00 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.J<\/td>\nOpRet<\/td>\n-2.0725%<\/td>\nSee BAM.PR.I, above<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetualDiscount<\/td>\n-2.0608%<\/td>\nNow with a pre-tax bid-YTW of 6.37% based on a bid of 19.01 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetualDiscount<\/td>\n-2.0192%<\/td>\nNow with a pre-tax bid-YTW of 6.52% based on a bid of 19.41 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.R<\/td>\nFixedReset<\/td>\n-2.0161%<\/td>\n <\/td>\n<\/tr>\n
PWF.PR.G<\/td>\nPerpetualDiscount<\/td>\n-1.9925%<\/td>\nNow with a pre-tax bid-YTW of 6.37% based on a bid of 23.61 and a limitMaturity.<\/td>\n<\/tr>\n
BNA.PR.A<\/td>\nSplitShare<\/td>\n-1.9027%<\/td>\nSee BNA.PR.B, above.<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nPerpetualDiscount<\/td>\n-1.8681%<\/td>\nNow with a pre-tax bid-YTW of 6.41% based on a bid of 17.86 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.G<\/td>\nPerpetualDiscount<\/td>\n-1.8428%<\/td>\nNow with a pre-tax bid-YTW of 6.32% based on a bid of 18.11 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.A<\/td>\nPerpetualDiscount<\/td>\n-1.7709%<\/td>\nNow with a pre-tax bid-YTW of 6.37% based on a bid of 17.75 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetualDiscount<\/td>\n-1.7460%<\/td>\nNow with a pre-tax bid-YTW of 6.21% based on a bid of 22.51 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.B<\/td>\nPerpetualDiscount<\/td>\n-1.7223%<\/td>\nNow with a pre-tax bid-YTW of 6.35% based on a bid of 18.83 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.D<\/td>\nPerpetualDiscount<\/td>\n-1.7199%<\/td>\nNow with a pre-tax bid-YTW of 7.22% based on a bid of 20.00 and a limitMaturity.<\/td>\n<\/tr>\n
TCA.PR.Y<\/td>\nPerpetualDiscount<\/td>\n-1.7186%<\/td>\nNow with a pre-tax bid-YTW of 6.10% based on a bid of 45.75 and a limitMaturity.<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetualDiscount<\/td>\n-1.6835%<\/td>\nNow with a pre-tax bid-YTW of 6.53% based on a bid of 17.52 and a limitMaturity.<\/td>\n<\/tr>\n
CL.PR.B<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.6613%<\/td>\nNow with a pre-tax bid-YTW of 6.48% based on a bid of 24.27 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.F<\/td>\nPerpetualDiscount<\/td>\n-1.6611%<\/td>\nNow with a pre-tax bid-YTW of 6.37% based on a bid of 17.76 and a limitMaturity.<\/td>\n<\/tr>\n
LBS.PR.A<\/td>\nSplitShare<\/td>\n-1.6575%<\/td>\nAsset coverage of just under 2.0:1 as of October 2, according to Brompton Group<\/a>. Now with a pre-tax bid-YTW of 7.91% based on a bid of 8.90 and a hardMaturity 2013-11-29. The capital units are at a premium, making a monthly retraction a speculative proposition, but the annual retraction<\/a> is at the end of November.<\/td>\n<\/tr>\n
TD.PR.R<\/td>\nPerpetualDiscount<\/td>\n-1.6488%<\/td>\nNow with a pre-tax bid-YTW of 5.96% based on a bid of 23.51 and a limitMaturity.<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nPerpetualDiscount<\/td>\n-1.6393%<\/td>\nNow with a pre-tax bid-YTW of 6.80% based on a bid of 18.00 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.C<\/td>\nPerpetualDiscount<\/td>\n-1.5781%<\/td>\nNow with a pre-tax bid-YTW of 6.25% based on a bid of 18.71 and a limitMaturity.<\/td>\n<\/tr>\n
TD.PR.A<\/td>\nFixedReset<\/td>\n-1.5385%<\/td>\n <\/td>\n<\/tr>\n
HSB.PR.C<\/td>\nPerpetualDiscount<\/td>\n-1.4337%<\/td>\nNow with a pre-tax bid-YTW of 6.69% based on a bid of 19.25 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.O<\/td>\nOpRet<\/td>\n-1.4085%<\/td>\nSee BAM.PR.H, above.<\/td>\n<\/tr>\n
BAM.PR.I<\/td>\nOpRet<\/td>\n-1.1603%<\/td>\nSee BAM.PR.H, above.<\/td>\n<\/tr>\n
FTN.PR.A<\/td>\nSplitShare<\/td>\n-1.1099%<\/td>\nAsset coverage of 2.2+:1 as of September 30 according to the company<\/a>. Now with a pre-tax bid-YTW of 7.30% based on a bid of 8.91 and a hardMaturity 2014-12-1 at 10.00. The capital unit closed at 9.30, and the Special Annual Concurrent Retraction<\/a> is this month … so it might be worth checking out this possibility.<\/td>\n<\/tr>\n
RY.PR.D<\/td>\nPerpetualDiscount<\/td>\n-1.0923%<\/td>\nNow with a pre-tax bid-YTW of 6.32% based on a bid of 18.11 and a limitMaturity.<\/td>\n<\/tr>\n
BCE.PR.Z<\/td>\nFixFloat<\/td>\n-1.0748%<\/td>\n <\/td>\n<\/tr>\n
BCE.PR.R<\/td>\nFixFloat<\/td>\n-1.0638%<\/td>\n <\/td>\n<\/tr>\n
PWF.PR.J<\/td>\nOpRet<\/td>\n-1.0580%<\/td>\nNow with a pre-tax bid-YTW of 4.69% based on a bid of 25.25 and a softMaturity 2013-7-30 at 25.00.<\/td>\n<\/tr>\n
TD.PR.P<\/td>\nPerpetualDiscount<\/td>\n+1.1669%<\/td>\nNow with a pre-tax bid-YTW of 5.96% based on a bid of 22.05 and a limitMaturity.<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset<\/td>\n+1.4633%<\/td>\n <\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nPerpetualDiscount<\/td>\n+1.4916%<\/td>\nNow with a pre-tax bid-YTW of 6.83% based on a bid of 17.01 and a limitMaturity.<\/td>\n<\/tr>\n
TD.PR.S<\/td>\nFixedReset<\/td>\n+3.225%<\/td>\n <\/td>\n<\/tr>\n<\/table>\n<\/div>\n
\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
GWO.PR.F<\/td>\nPerpetualDiscount<\/td>\n61,741<\/td>\nNational Bank crossed 10,000 at 25.00, then bought 15,000 from anonymous at the same price. Now with a pre-tax bid-YTW of 6.00% based on a bid of 24.76 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nPerpetualDiscount<\/td>\n56,975<\/td>\nNesbitt crossed 50,000 at 17.75. Now with a pre-tax bid-YTW of 6.48% based on a bid of 17.53 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.P<\/td>\nFixedReset<\/td>\n47,740<\/td>\nNesbitt crossed 42,300 at 24.70<\/td>\n<\/tr>\n
MFC.PR.A<\/td>\nOpRet<\/td>\n32,570<\/td>\nCIBC crossed 25,000 at 25.00. Now with a pre-tax bid-YTW of 4.31% based on a bid of 24.76 and a softMaturity 2015-12-18 at 25.00.<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nPerpetualDiscount<\/td>\n30,200<\/td>\nAnonymous crossed 10,000 at 19.00 … unless it was two different anonymice. Now with a pre-tax bid-YTW of 5.97% based on a bid of 18.90 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

There were fifteen other index-included $25-pv-equivalent issues trading over 10,000 shares today<\/p>\n","protected":false},"excerpt":{"rendered":"

Total, Utter Carnage: Canadian stocks fell, sending the main index to the lowest in three years, as commodity producers slid on concern their profits will be hurt by a global recession.…The S&P\/TSX fell 5.3 percent …<\/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-3299","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/3299","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=3299"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/3299\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}