{"id":455,"date":"2007-01-07T16:02:30","date_gmt":"2007-01-07T20:02:30","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=455"},"modified":"2007-01-07T16:02:30","modified_gmt":"2007-01-07T20:02:30","slug":"clprb-a-big-day-yield-to-worst-goes-negative","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=455","title":{"rendered":"CL.PR.B : A Big Day, Yield-To-Worst Goes Negative"},"content":{"rendered":"

As noted in the January 5, 2007, Commentary<\/a>, the yieldToWorst<\/a> on CL.PR.B has gone negative … again! This happened previously on November 29, 2006<\/a> and I suggested then – and I still suggest – that this issue is a prime candidate for redemption.<\/p>\n

Great-West’s last issue, GWO.PR.I, was issued in mid-April 2006, is still trading heavily and is yielding 4.53% based on a limitMaturity<\/a> and GWO (who own CL<\/a>) may well decide that with all the money flying around during RRSP season, now is a good time to refinance.<\/p>\n

I’ve uploaded a graph of yieldToWorst<\/a> for the past year, along with another one<\/a> of flatBidPrice<\/a>.<\/p>\n

CL.PR.B hasn’t been a particularly enthralling issue to own for the last year, as this data from the performanceBox<\/a> shows:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
2005-12-30<\/td>\n0.00<\/td>\n27.26<\/td>\n<\/tr>\n
2006-01-31\u00a0<\/td>\n0.00<\/td>\n\u00a026.50<\/td>\n<\/tr>\n
2006-02-28<\/td>\n\u00a00.00\u00a0<\/td>\n27.27<\/td>\n<\/tr>\n
2006-03-01<\/td>\n\u00a0-0.39<\/td>\n\u00a026.72<\/td>\n<\/tr>\n
2006-03-31\u00a0<\/td>\n0.00\u00a0<\/td>\n26.43<\/td>\n<\/tr>\n
2006-04-28\u00a0<\/td>\n0.00<\/td>\n\u00a026.20<\/td>\n<\/tr>\n
2006-05-31\u00a0<\/td>\n-0.39\u00a0<\/td>\n26.37<\/td>\n<\/tr>\n
2006-06-30<\/td>\n\u00a00.00<\/td>\n\u00a026.08<\/td>\n<\/tr>\n
2006-07-31<\/td>\n\u00a00.00<\/td>\n\u00a026.24<\/td>\n<\/tr>\n
2006-08-30\u00a0<\/td>\n-0.39<\/td>\n\u00a026.14<\/td>\n<\/tr>\n
2006-08-31<\/td>\n\u00a00.00\u00a0<\/td>\n26.09<\/td>\n<\/tr>\n
2006-09-29<\/td>\n\u00a00.00<\/td>\n\u00a026.25<\/td>\n<\/tr>\n
2006-10-31\u00a0<\/td>\n0.00<\/td>\n\u00a026.21<\/td>\n<\/tr>\n
2006-11-29\u00a0<\/td>\n-0.39\u00a0<\/td>\n26.30<\/td>\n<\/tr>\n
2006-11-30\u00a0<\/td>\n0.00<\/td>\n\u00a026.15<\/td>\n<\/tr>\n
2006-12-29<\/td>\n\u00a00.00<\/td>\n\u00a026.05<\/td>\n<\/tr>\n
2007-01-05<\/td>\n\u00a00.00\u00a0<\/td>\n26.43<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

The quarterly numbers do not compare well with the quarterly returns posted by Malachite Aggressive Preferred Fund<\/a>:<\/p>\n

\n\n\n\n\n\n\n\n
Quarterly<\/td>\n<\/tr>\n
Period Ending<\/td>\nCL.PR.B<\/td>\nMAPF<\/td>\n<\/tr>\n
2006-03-31<\/td>\n-1.63 %<\/td>\n+1.45%<\/td>\n<\/tr>\n
2006-06-30<\/td>\n0.15 %<\/td>\n-1.37%<\/td>\n<\/tr>\n
2006-09-29<\/td>\n2.15 %<\/td>\n+3.51%<\/td>\n<\/tr>\n
2006-12-29<\/td>\n0.73 %<\/td>\n+3.20%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

Total return for the period 2005-12-30 to 2007-1-5 is 2.8266%<\/p>\n","protected":false},"excerpt":{"rendered":"

As noted in the January 5, 2007, Commentary, the yieldToWorst on CL.PR.B has gone negative … again! This happened previously on November 29, 2006 and I suggested then – and I still suggest – that …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-455","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/455","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=455"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/455\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}