{"id":516,"date":"2007-01-24T23:30:27","date_gmt":"2007-01-25T03:30:27","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=516"},"modified":"2007-01-24T23:30:27","modified_gmt":"2007-01-25T03:30:27","slug":"january-24-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=516","title":{"rendered":"January 24, 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>\n4.02%<\/td>\n4.05%<\/td>\n28,553<\/td>\n17.35<\/td>\n1<\/td>\n-0.2000%<\/td>\n1,033.8<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.75%<\/td>\n3.10%<\/td>\n73,316<\/td>\n8.39<\/td>\n7<\/td>\n-0.0713%<\/td>\n1,045.8<\/td>\n<\/tr>\n
Floater<\/td>\n4.55%<\/td>\n-21.75%<\/td>\n60,753<\/td>\n4.17<\/td>\n4<\/td>\n0.2060%<\/td>\n1,046.8<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.68%<\/td>\n2.22%<\/td>\n79,864<\/td>\n2.00<\/td>\n17<\/td>\n0.0268%<\/td>\n1,031.2<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.05%<\/td>\n-0.17%<\/td>\n380,567<\/td>\n2.83<\/td>\n11<\/td>\n+0.0457%<\/td>\n1,045.8<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.71%<\/td>\n5.96%<\/td>\n73,335<\/td>\n4.49<\/td>\n6<\/td>\n-0.0522%<\/td>\n1,035.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.01%<\/td>\n3.75%<\/td>\n268,696<\/td>\n5.54<\/td>\n56<\/td>\n+0.0511%<\/td>\n1,052.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.50%<\/td>\n4.52%<\/td>\n1,460,388<\/td>\n16.36<\/td>\n5<\/td>\n+0.0966%<\/td>\n1,057.2<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
There were no index-included issues with major price moves today.<\/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
BNS.PR.L<\/td>\nPerpetualPremium<\/td>\n387,831<\/td>\nNew issued settled today<\/a>. Now with a pre-tax bid-YTW of 4.48% based on a bid of $25.07 and a call 2016-5-27 at $25.00.<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetualDiscount<\/td>\n85,975<\/td>\nRecent new issue<\/a>. Now with a pre-tax bid-YTW of 4.52% based on a bid of $24.97 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
GWO.PR.X<\/td>\nOpRet<\/td>\n67,482<\/td>\nNow with a pre-tax bid-YTW of 2.44% based on a bid of $27.60 and a call 2009-10-30 at $26.00. Buyers are obviously hoping for the softMaturity<\/a> at $25.00, 2013-9-29, which yields 3.14% pre-tax (still no great shakes compared to normal bonds, bond-equivalent is only 4.40% at the Ontario Equivalency Factor<\/a> of 1.4x), but why? Great-West has already demonstrated its willingness<\/a> to pay market prices to retire this issue.<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nPerpetualDiscount<\/td>\n66,162<\/td>\nRecent new issue<\/a>. Now with a pre-tax bid-YTW of 4.51% based on a bid of $25.00 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetualPremium<\/td>\n59,085<\/td>\nGlobal crossed 26,800 for cash<\/a> at $26.66, then crossed the same number for regular settlement at $26.35. Mr. Calculator says that’s a difference of $0.31, and RBC says<\/a> it went exDividend<\/a> 1\/23, for $0.30625. I’m glad all that’s cleared up! Now with a pre-tax bid-YTW of 4.12% based on a bid of $26.14 and a call 2014-3-26 at $25.00. I say it’s appallingly expensive, that’s what I say.<\/td>\n<\/tr>\n<\/table>\n

There were eleven other “$25 p.v. equivalent” index-included issues with over 10,000 shares traded today.<\/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-516","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/516","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=516"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/516\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}