{"id":49309,"date":"2018-04-30T10:25:00","date_gmt":"2018-04-30T14:25:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49309"},"modified":"2025-08-14T10:26:20","modified_gmt":"2025-08-14T14:26:20","slug":"april-30-2018","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49309","title":{"rendered":"April 30, 2018"},"content":{"rendered":"

Here’s a sign of the times<\/a>:<\/p>\n

\n

Many Wall Street traders are concerned about being replaced by machines in the future, but at one Goldman Sachs Group Inc. unit it\u2019s already happened.<\/p>\n

\u201cEquity trading: 15-20 years ago we had 500 people making markets in stocks. Today we have three,\u201d Goldman Sachs President David Solomon said Monday at the Milken Institute Global Conference in Beverly Hills, California.<\/p>\n

Solomon said the introduction of more technology into the trading business has made it more efficient for clients, while also introducing new risks. For Goldman Sachs, it has changed the mix of its workforce, as the bank has 9,000 engineers on staff and more employees are focused on regulation.<\/p>\n<\/blockquote>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3257 %<\/td>\n2,934.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3257 %<\/td>\n5,384.9<\/td>\n<\/tr>\n
Floater<\/td>\n3.41 %<\/td>\n3.64 %<\/td>\n88,944<\/td>\n18.18<\/td>\n4<\/td>\n0.3257 %<\/td>\n3,103.4<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1189 %<\/td>\n3,151.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.61 %<\/td>\n4.76 %<\/td>\n77,388<\/td>\n5.06<\/td>\n5<\/td>\n-0.1189 %<\/td>\n3,763.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1189 %<\/td>\n2,936.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.57 %<\/td>\n-1.38 %<\/td>\n77,366<\/td>\n0.09<\/td>\n11<\/td>\n-0.0288 %<\/td>\n2,867.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.41 %<\/td>\n5.43 %<\/td>\n68,080<\/td>\n14.76<\/td>\n24<\/td>\n0.0847 %<\/td>\n2,940.1<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.33 %<\/td>\n4.75 %<\/td>\n165,449<\/td>\n5.72<\/td>\n103<\/td>\n-0.0128 %<\/td>\n2,511.0<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.15 %<\/td>\n5.67 %<\/td>\n85,764<\/td>\n5.62<\/td>\n28<\/td>\n-0.0903 %<\/td>\n2,938.9<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.06 %<\/td>\n3.33 %<\/td>\n29,066<\/td>\n3.55<\/td>\n10<\/td>\n0.1126 %<\/td>\n2,762.6<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.77
\nBid-YTW : 7.15 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.60
\nBid-YTW : 7.90 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-04-30
\nMaturity Price : 16.58
\nEvaluated at bid price : 16.58
\nBid-YTW : 4.94 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
VNR.PR.A<\/td>\nFixedReset<\/td>\n76,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-04-30
\nMaturity Price : 23.01
\nEvaluated at bid price : 24.46
\nBid-YTW : 4.91 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset<\/td>\n51,800<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-04-30
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset<\/td>\n38,024<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.31
\nBid-YTW : 4.40 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset<\/td>\n35,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-04-30
\nMaturity Price : 22.98
\nEvaluated at bid price : 24.50
\nBid-YTW : 4.68 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset<\/td>\n26,624<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.12
\nBid-YTW : 4.30 %<\/td>\n<\/tr>\n
GWO.PR.M<\/td>\nDeemed-Retractible<\/td>\n25,800<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-05-30
\nMaturity Price : 25.25
\nEvaluated at bid price : 26.05
\nBid-YTW : -25.02 %<\/td>\n<\/tr>\n
There were 17 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset<\/td>\nQuote: 22.81 – 23.95
\nSpot Rate : 1.1400
\nAverage : 0.6643<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.81
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n

MFC.PR.K<\/td>\nFixedReset<\/td>\nQuote: 22.75 – 23.30
\nSpot Rate : 0.5500
\nAverage : 0.3978<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.75
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n

PVS.PR.B<\/td>\nSplitShare<\/td>\nQuote: 25.18 – 25.62
\nSpot Rate : 0.4400
\nAverage : 0.2955<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2019-01-10
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.18
\nBid-YTW : 4.24 %<\/td>\n<\/tr>\n

CCS.PR.C<\/td>\nDeemed-Retractible<\/td>\nQuote: 23.02 – 23.64
\nSpot Rate : 0.6200
\nAverage : 0.4973<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.02
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n

MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\nQuote: 21.00 – 21.26
\nSpot Rate : 0.2600
\nAverage : 0.1609<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 7.72 %<\/td>\n<\/tr>\n

HSE.PR.C<\/td>\nFixedReset<\/td>\nQuote: 24.40 – 24.64
\nSpot Rate : 0.2400
\nAverage : 0.1542<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-04-30
\nMaturity Price : 24.07
\nEvaluated at bid price : 24.40
\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Here’s a sign of the times: Many Wall Street traders are concerned about being replaced by machines in the future, but at one Goldman Sachs Group Inc. unit it\u2019s already happened. \u201cEquity trading: 15-20 years …<\/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-49309","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49309","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=49309"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49309\/revisions"}],"predecessor-version":[{"id":49310,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49309\/revisions\/49310"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}