{"id":347,"date":"2006-11-29T22:57:56","date_gmt":"2006-11-30T02:57:56","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=347"},"modified":"2006-11-29T22:57:56","modified_gmt":"2006-11-30T02:57:56","slug":"november-29-2006","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=347","title":{"rendered":"November 29, 2006"},"content":{"rendered":"

\u00a0<\/p>\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<\/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>\n4.24%<\/td>\n4.20%<\/td>\n32,632<\/td>\n16.91<\/td>\n2<\/td>\n-0.4784%<\/td>\n1,020.9<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.81%<\/td>\n3.88%<\/td>\n102,696<\/td>\n8.44<\/td>\n7<\/td>\n-0.0333%<\/td>\n1,029.8<\/td>\n<\/tr>\n
Floater<\/td>\n4.47%<\/td>\n-22.93%<\/td>\n63,072<\/td>\n6.59<\/td>\n5<\/td>\n+0.0377%<\/td>\n1,038.0<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.65%<\/td>\n-0.58%<\/td>\n81,650<\/td>\n2.24<\/td>\n18<\/td>\n+0.0284%<\/td>\n1,031.5<\/td>\n<\/tr>\n
Split-Share<\/td>\n4.98%<\/td>\n3.15%<\/td>\n144,077<\/td>\n3.32<\/td>\n9<\/td>\n-0.1287%<\/td>\n1,035.0<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.91%<\/td>\n5.87%<\/td>\n70,291<\/td>\n3.88<\/td>\n7<\/td>\n-0.1749%<\/td>\n1,021.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.05%<\/td>\n3.44%<\/td>\n209,930<\/td>\n4.11<\/td>\n48<\/td>\n+0.0539%<\/td>\n1,048.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.60%<\/td>\n4.61%<\/td>\n1,101,304<\/td>\n14.22<\/td>\n9<\/td>\n+0.1964%<\/td>\n1,046.1<\/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
FFN.PR.A<\/td>\nSplitShare<\/td>\n-1.9444%<\/td>\nNow with a pre-tax bid-YTW of 3.16%, based on a bid of $10.59 and a maturity 2009-12-01.<\/td>\n<\/tr>\n
CL.PR.B<\/td>\nPerpetualPremium<\/td>\n+1.4467%<\/td>\nNot a big trader, but enough to make it into the index! This now has a pre-tax bid-YTW of -3.63, based on a bid of $26.30 and a call 2007-1-30 at $26.00, which would seem to limit the upside considerably! Buyers appear to be hoping it will last longer, say to a $25.00 call 2011-1-30, which results in a +4.76%, but come on, now! The thing pays $1.5625 – what treasurer will let it live? Canada Life is owned by Great-West Lifeco<\/a>, who are not known for their complete lack of knowledge regarding the preferred share market.<\/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
CM.PR.I<\/td>\nPerpetualDiscount<\/td>\n193,952<\/td>\nRecent new issue.<\/a><\/td>\n<\/tr>\n
ACO.PR.A<\/td>\nOperatingRetractible<\/td>\n150,294<\/td>\nThis has been showing up a lot lately<\/a>, on both price and volume counts. Today Nesbitt crossed 150,000 at $28.26 and it closed at 28.10 bid, for a pre-tax YTW of 1.58% based on a call 2008-12-31 at $26.00. Is somebody trying to sell an elephant?<\/td>\n<\/tr>\n
WN.PR.E<\/td>\nPerpetualDiscount<\/td>\n125,311<\/td>\nMaybe a PerpetualDiscount now, but not for long, maybe! RBC crossed 100,000 at $25.15 and it closed at $25.15 bid for a limitMaturity<\/a> of 4.78%.<\/td>\n<\/tr>\n
RY.PR.C<\/td>\nPerpetualPremium<\/td>\n102,736<\/td>\nRecent new issue<\/a><\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetualDiscount<\/td>\n65,955<\/td>\nClosed at $24.96 bid for a pre-tax YTW of 4.50% based on a limit maturity.<\/td>\n<\/tr>\n<\/table>\n

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

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

\u00a0 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 …<\/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-347","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/347","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=347"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/347\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}