{"id":49714,"date":"2018-09-27T20:18:00","date_gmt":"2018-09-28T00:18:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49714"},"modified":"2025-08-25T20:21:35","modified_gmt":"2025-08-26T00:21:35","slug":"september-27-2018","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49714","title":{"rendered":"September 27, 2018"},"content":{"rendered":"

Visionary? Bullshit artist? Both?<\/a>:<\/p>\n

\n

The Securities and Exchange Commission today charged Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc., with securities fraud for a series of false and misleading tweets about a potential transaction to take Tesla private. <\/p>\n

On August 7, 2018, Musk tweeted to his 22 million Twitter followers that he could take Tesla private at $420 per share (a substantial premium to its trading price at the time), that funding for the transaction had been secured, and that the only remaining uncertainty was a shareholder vote. The SEC\u2019s complaint alleges that, in truth, Musk had not discussed specific deal terms with any potential financing partners, and he allegedly knew that the potential transaction was uncertain and subject to numerous contingencies. According to the SEC\u2019s complaint, Musk\u2019s tweets caused Tesla\u2019s stock price to jump by over six percent on August 7, and led to significant market disruption.<\/p>\n<\/blockquote>\n\n\n\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>\n0.1473 %<\/td>\n3,137.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1473 %<\/td>\n5,757.4<\/td>\n<\/tr>\n
Floater<\/td>\n3.46 %<\/td>\n3.66 %<\/td>\n35,404<\/td>\n18.16<\/td>\n4<\/td>\n0.1473 %<\/td>\n3,318.0<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0158 %<\/td>\n3,233.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.60 %<\/td>\n4.57 %<\/td>\n53,449<\/td>\n4.77<\/td>\n5<\/td>\n0.0158 %<\/td>\n3,861.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0158 %<\/td>\n3,012.9<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.56 %<\/td>\n-3.56 %<\/td>\n49,988<\/td>\n0.09<\/td>\n12<\/td>\n0.0789 %<\/td>\n2,924.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.44 %<\/td>\n5.58 %<\/td>\n58,351<\/td>\n14.56<\/td>\n22<\/td>\n0.0363 %<\/td>\n2,994.5<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.17 %<\/td>\n4.95 %<\/td>\n147,573<\/td>\n15.49<\/td>\n42<\/td>\n0.0740 %<\/td>\n2,585.9<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.18 %<\/td>\n6.04 %<\/td>\n58,531<\/td>\n5.34<\/td>\n27<\/td>\n0.0518 %<\/td>\n2,988.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.39 %<\/td>\n4.17 %<\/td>\n38,924<\/td>\n5.63<\/td>\n5<\/td>\n0.4083 %<\/td>\n2,855.4<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n4.82 %<\/td>\n4.08 %<\/td>\n165,353<\/td>\n2.85<\/td>\n35<\/td>\n0.1387 %<\/td>\n2,574.6<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n3.19 %<\/td>\n3.82 %<\/td>\n66,728<\/td>\n0.40<\/td>\n9<\/td>\n-0.0451 %<\/td>\n2,572.8<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.31 %<\/td>\n5.16 %<\/td>\n85,823<\/td>\n5.42<\/td>\n22<\/td>\n0.0542 %<\/td>\n2,592.5<\/td>\n<\/tr>\n<\/table>\n\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
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.11
\nBid-YTW : 7.53 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.92
\nBid-YTW : 6.96 %<\/td>\n<\/tr>\n
BAM.PF.J<\/td>\nFixedReset Prem<\/td>\n1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.66
\nBid-YTW : 4.08 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n1.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 17.43
\nEvaluated at bid price : 17.43
\nBid-YTW : 5.01 %<\/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
RY.PR.Q<\/td>\nFixedReset Prem<\/td>\n229,880<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-05-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.31
\nBid-YTW : 3.63 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n56,275<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 22.84
\nEvaluated at bid price : 24.03
\nBid-YTW : 4.83 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset Disc<\/td>\n41,870<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 22.43
\nEvaluated at bid price : 22.91
\nBid-YTW : 5.13 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Prem<\/td>\n34,980<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-11-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.29
\nBid-YTW : 4.30 %<\/td>\n<\/tr>\n
TD.PF.K<\/td>\nFixedReset Disc<\/td>\n34,705<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 23.17
\nEvaluated at bid price : 25.04
\nBid-YTW : 4.80 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n29,233<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 22.80
\nEvaluated at bid price : 23.26
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n
There were 12 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
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\nQuote: 20.48 – 20.95
\nSpot Rate : 0.4700
\nAverage : 0.3160<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 20.48
\nEvaluated at bid price : 20.48
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n

TRP.PR.E<\/td>\nFixedReset Disc<\/td>\nQuote: 22.91 – 23.25
\nSpot Rate : 0.3400
\nAverage : 0.2011<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 22.43
\nEvaluated at bid price : 22.91
\nBid-YTW : 5.13 %<\/td>\n<\/tr>\n

GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.60 – 18.95
\nSpot Rate : 0.3500
\nAverage : 0.2191<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.60
\nBid-YTW : 8.31 %<\/td>\n<\/tr>\n

TRP.PR.C<\/td>\nFixedReset Disc<\/td>\nQuote: 17.79 – 18.10
\nSpot Rate : 0.3100
\nAverage : 0.1864<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 17.79
\nEvaluated at bid price : 17.79
\nBid-YTW : 5.21 %<\/td>\n<\/tr>\n

BAM.PF.E<\/td>\nFixedReset Disc<\/td>\nQuote: 23.50 – 23.79
\nSpot Rate : 0.2900
\nAverage : 0.2051<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 23.07
\nEvaluated at bid price : 23.50
\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n

BAM.PR.X<\/td>\nFixedReset Disc<\/td>\nQuote: 19.00 – 19.40
\nSpot Rate : 0.4000
\nAverage : 0.3197<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-09-27
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 5.08 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Visionary? Bullshit artist? Both?: The Securities and Exchange Commission today charged Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc., with securities fraud for a series of false and misleading tweets about a potential …<\/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-49714","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49714","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=49714"}],"version-history":[{"count":2,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49714\/revisions"}],"predecessor-version":[{"id":49718,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49714\/revisions\/49718"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}