{"id":462,"date":"2007-01-09T23:19:28","date_gmt":"2007-01-10T03:19:28","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=462"},"modified":"2007-01-09T23:19:28","modified_gmt":"2007-01-10T03:19:28","slug":"mean-ytw-on-splitshare-index-goes-negative","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=462","title":{"rendered":"Mean-YTW on SplitShare Index Goes Negative!"},"content":{"rendered":"<p>As noted on the <a href=\"http:\/\/www.prefblog.com\/?p=460\">January 9, 2007<\/a> Market Action report, the mean-yield-to-worst on the Split Share index has now gone negative.<\/p>\n<p>This is due to the exceptional performance of DIV.PR.A, which had a stellar bid\/bid return today of +1.2128%, despite the fact that it is currently callable at prices well below its current quotation. Will the market never learn?<\/p>\n<p>Even after the recent <a href=\"http:\/\/www.prefblog.com\/?p=448\">call for redemption<\/a> of the CVF.PR.A shares (under the same management as DIV.PR.A), people still do these things. If I thought that they were knowingly taking the risk, having explicitly taken a view on the likelihood of redemtption, it wouldn&#8217;t bother me so much &#8230; but that&#8217;s not what I think and I am bothered.<\/p>\n<p>A portfolio evaluation of the split-share index as of today <a href=\"http:\/\/www.prefblog.com\/wp-content\/uploads\/2007\/01\/splitShares_070109.pdf\">is available here<\/a>.\n<\/p>\n<p><!--d629fe4d6caf071c296e6daa417ac219--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As noted on the January 9, 2007 Market Action report, the mean-yield-to-worst on the Split Share index has now gone negative. This is due to the exceptional performance of DIV.PR.A, which had a stellar bid\/bid &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-462","post","type-post","status-publish","format-standard","hentry","category-index-construction-and-reporting"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/462","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=462"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/462\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}