{"id":452,"date":"2007-01-07T14:41:34","date_gmt":"2007-01-07T18:41:34","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=452"},"modified":"2007-01-07T14:41:34","modified_gmt":"2007-01-07T18:41:34","slug":"january-5-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=452","title":{"rendered":"January 5, 2007"},"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. In this version, index values are based at 1,000.0 on 2006-6-30<\/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>\n4.07%<\/td>\n4.08%<\/td>\n29,768<\/td>\n17.29<\/td>\n1<\/td>\n+0.0400%<\/td>\n1,036.2<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.79%<\/td>\n3.60%<\/td>\n84,265<\/td>\n8.36<\/td>\n7<\/td>\n-0.0211%<\/td>\n1,037.0<\/td>\n<\/tr>\n
Floater<\/td>\n4.58%<\/td>\n-22.40%<\/td>\n65,782<\/td>\n8.23<\/td>\n4<\/td>\n0.1188%<\/td>\n1,040.6<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.67%<\/td>\n1.65%<\/td>\n81,811<\/td>\n2.05<\/td>\n17<\/td>\n-0.0232%<\/td>\n1,033.1<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.11%<\/td>\n1.24%<\/td>\n192,206<\/td>\n2.27<\/td>\n10<\/td>\n+0.0240%<\/td>\n1,045.0<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.70%<\/td>\n5.46%<\/td>\n74,078<\/td>\n2.39<\/td>\n6<\/td>\n+0.1327%<\/td>\n1,036.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n4.99%<\/td>\n3.21%<\/td>\n261,337<\/td>\n4.67<\/td>\n55<\/td>\n+0.0012%<\/td>\n1,055.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.48%<\/td>\n4.50%<\/td>\n790,937<\/td>\n16.41<\/td>\n3<\/td>\n+0.0001%<\/td>\n1,060.8<\/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
GWO.PR.F<\/td>\nPerpetualPremium<\/td>\n-1.3904%<\/td>\nNow with a pre-tax bid-YTW of 2.14% based on a bid of $27.66 and a call 2008-10-30 at $26.00. Given that it pays $1.475, I wouldn’t bet against the early call, but some would, hoping, I suppose, for a call 2012-10-30 at $25.00 to yield 3.89%.<\/td>\n<\/tr>\n
CL.PR.B<\/td>\nPerpetualPremium<\/td>\n+1.3809%<\/td>\nAnother high-paying issue (pays $1.5625 annually) with a pre-tax bid-YTW of -12.20 based on a call 2007-02-04 at $26.00. Given that we’re now a week into the first call period and there’s been no news, I suppose there are some that are hoping that the issue won’t be called … but I’m not one of them!<\/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
GWO.PR.I<\/td>\nPerpetualDiscount<\/td>\n36,820<\/td>\nNow with a pre-tax bid-YTW of 4.53% based on a bid of $24.91 and a limitMaturity<\/a><\/td>\n<\/tr>\n
CM.PR.B<\/td>\nPerpetualPremium<\/td>\n27,290<\/td>\nThis has been called for redemption<\/a>.<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetualPremium<\/td>\n26,925<\/td>\nNow with a pre-tax bid-YTW of 4.66% based on a bid of $25.24 and a call 2016-3-1 at $25.00.<\/td>\n<\/tr>\n
PWF.PR.J<\/td>\nOpRet<\/td>\n25,003<\/td>\nNow with a pre-tax bid-YTW of 2.23% based on a bid of $27.03 and a call 2008-5-30 at $26.00. It would appear that many investors are hoping for the softMaturity<\/a> 2013-7-30 at $25.00, yielding 3.47%. Given that it pays $1.175 p.a. and the call premium declines by $0.25 annually, they might be right – but I won’t bet on it!<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n20,337<\/td>\nNow with a pre-tax bid-YTW of 4.49% based on a bid of $24.85 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n

There were ten other “$25 p.v. equivalent” index-included issues with over 10,000 shares traded today.\n<\/p>\n

<\/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. In this version, index values are based at 1,000.0 on 2006-6-30 Index Mean Current Yield …<\/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-452","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/452","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=452"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/452\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}