{"id":5678,"date":"2009-02-28T00:31:27","date_gmt":"2009-02-28T04:31:27","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=5678"},"modified":"2009-02-28T00:31:27","modified_gmt":"2009-02-28T04:31:27","slug":"february-27-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=5678","title":{"rendered":"February 27, 2009"},"content":{"rendered":"

PerpetualDiscounts closed the month on a sour note, losing nearly 80bp to close yielding 7.29%, equivalent to 10.21% interest at the standard equivalency factor of 1.4x. Long Corporates<\/a> now yield about 7.5%, so the pre-tax interest-equivalent spread now stands at 271bp – another updraft!<\/p>\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>\n5.33 %<\/td>\n3.62 %<\/td>\n23,573<\/td>\n18.12<\/td>\n2<\/td>\n0.0523 %<\/td>\n841.1<\/td>\n<\/tr>\n
FixedFloater<\/td>\n7.50 %<\/td>\n7.05 %<\/td>\n77,582<\/td>\n13.86<\/td>\n7<\/td>\n-1.5204 %<\/td>\n1,338.5<\/td>\n<\/tr>\n
Floater<\/td>\n5.07 %<\/td>\n4.15 %<\/td>\n25,585<\/td>\n17.14<\/td>\n4<\/td>\n-1.3816 %<\/td>\n1,035.5<\/td>\n<\/tr>\n
OpRet<\/td>\n5.26 %<\/td>\n4.82 %<\/td>\n149,440<\/td>\n3.95<\/td>\n15<\/td>\n0.0921 %<\/td>\n2,047.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n6.83 %<\/td>\n12.16 %<\/td>\n71,682<\/td>\n3.97<\/td>\n15<\/td>\n-1.2929 %<\/td>\n1,644.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n7.33 %<\/td>\n8.74 %<\/td>\n38,157<\/td>\n0.80<\/td>\n2<\/td>\n-1.1827 %<\/td>\n1,929.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.7911 %<\/td>\n1,500.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n7.19 %<\/td>\n7.29 %<\/td>\n173,471<\/td>\n12.20<\/td>\n71<\/td>\n-0.7911 %<\/td>\n1,382.0<\/td>\n<\/tr>\n
FixedReset<\/td>\n6.15 %<\/td>\n5.72 %<\/td>\n534,526<\/td>\n13.90<\/td>\n27<\/td>\n-0.2135 %<\/td>\n1,790.5<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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
FIG.PR.A<\/td>\nInterest-Bearing<\/td>\n-4.20 %<\/td>\nAsset coverage of 1.0+:1 as of February 20, based on Capital units at $0.39<\/a> and 0.53 Capital Units per preferred<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2014-12-31
\nMaturity Price : 10.00
\nEvaluated at bid price : 6.85
\nBid-YTW : 14.89 %<\/td>\n<\/tr>\n
ALB.PR.A<\/td>\nSplitShare<\/td>\n-3.77 %<\/td>\nAsset coverage of 1.1-:1 as of February 26 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2011-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.91
\nBid-YTW : 19.67 %<\/td>\n<\/tr>\n
LFE.PR.A<\/td>\nSplitShare<\/td>\n-3.66 %<\/td>\nAsset coverage of 1.2+:1 as of February 13 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2012-12-01
\nMaturity Price : 10.00
\nEvaluated at bid price : 7.37
\nBid-YTW : 14.70 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-3.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 7.50
\nEvaluated at bid price : 7.50
\nBid-YTW : 7.14 %<\/td>\n<\/tr>\n
LBS.PR.A<\/td>\nSplitShare<\/td>\n-3.59 %<\/td>\nAsset coverage of 1.2+:1 as of February 26 according to Brompton<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2013-11-29
\nMaturity Price : 10.00
\nEvaluated at bid price : 7.52
\nBid-YTW : 12.61 %<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nPerpetual-Discount<\/td>\n-3.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 17.21
\nEvaluated at bid price : 17.21
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
TD.PR.P<\/td>\nPerpetual-Discount<\/td>\n-3.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 18.86
\nEvaluated at bid price : 18.86
\nBid-YTW : 7.06 %<\/td>\n<\/tr>\n
BCE.PR.G<\/td>\nFixedFloater<\/td>\n-3.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.55
\nBid-YTW : 7.15 %<\/td>\n<\/tr>\n
PWF.PR.I<\/td>\nPerpetual-Discount<\/td>\n-2.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 20.21
\nEvaluated at bid price : 20.21
\nBid-YTW : 7.54 %<\/td>\n<\/tr>\n
RY.PR.I<\/td>\nFixedReset<\/td>\n-2.84 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 22.21
\nEvaluated at bid price : 22.25
\nBid-YTW : 4.67 %<\/td>\n<\/tr>\n
BCE.PR.C<\/td>\nFixedFloater<\/td>\n-2.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 15.17
\nBid-YTW : 7.05 %<\/td>\n<\/tr>\n
TD.PR.R<\/td>\nPerpetual-Discount<\/td>\n-2.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.65
\nEvaluated at bid price : 19.65
\nBid-YTW : 7.23 %<\/td>\n<\/tr>\n
BMO.PR.K<\/td>\nPerpetual-Discount<\/td>\n-2.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 17.82
\nEvaluated at bid price : 17.82
\nBid-YTW : 7.44 %<\/td>\n<\/tr>\n
BNA.PR.A<\/td>\nSplitShare<\/td>\n-2.52 %<\/td>\nAsset coverage of 1.9-:1 as of January 31 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2010-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.20
\nBid-YTW : 11.31 %<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nPerpetual-Discount<\/td>\n-2.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 16.72
\nEvaluated at bid price : 16.72
\nBid-YTW : 6.83 %<\/td>\n<\/tr>\n
CM.PR.D<\/td>\nPerpetual-Discount<\/td>\n-2.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.51
\nEvaluated at bid price : 19.51
\nBid-YTW : 7.49 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nPerpetual-Discount<\/td>\n-2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 20.19
\nEvaluated at bid price : 20.19
\nBid-YTW : 7.07 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nPerpetual-Discount<\/td>\n-2.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 15.30
\nEvaluated at bid price : 15.30
\nBid-YTW : 7.78 %<\/td>\n<\/tr>\n
FBS.PR.B<\/td>\nSplitShare<\/td>\n-2.14 %<\/td>\nAsset coverage of 1.0+:1 as of February 26 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2011-12-15
\nMaturity Price : 10.00
\nEvaluated at bid price : 6.41
\nBid-YTW : 22.85 %<\/td>\n<\/tr>\n
BNA.PR.C<\/td>\nSplitShare<\/td>\n-2.13 %<\/td>\nAsset coverage of 1.9-:1 as of January 31 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2019-01-10
\nMaturity Price : 25.00
\nEvaluated at bid price : 11.01
\nBid-YTW : 15.79 %<\/td>\n<\/tr>\n
RY.PR.L<\/td>\nFixedReset<\/td>\n-2.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 22.96
\nEvaluated at bid price : 23.00
\nBid-YTW : 5.31 %<\/td>\n<\/tr>\n
CU.PR.B<\/td>\nPerpetual-Discount<\/td>\n-2.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 21.99
\nEvaluated at bid price : 22.37
\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n
PWF.PR.G<\/td>\nPerpetual-Discount<\/td>\n-2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.19
\nEvaluated at bid price : 19.19
\nBid-YTW : 7.81 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n-2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 18.76
\nEvaluated at bid price : 18.76
\nBid-YTW : 7.44 %<\/td>\n<\/tr>\n
BMO.PR.H<\/td>\nPerpetual-Discount<\/td>\n-2.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.75
\nEvaluated at bid price : 19.75
\nBid-YTW : 6.77 %<\/td>\n<\/tr>\n
PPL.PR.A<\/td>\nSplitShare<\/td>\n-1.98 %<\/td>\nAsset coverage of 1.3+:1 as of February 13 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2012-12-01
\nMaturity Price : 10.00
\nEvaluated at bid price : 8.40
\nBid-YTW : 10.22 %<\/td>\n<\/tr>\n
CM.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.97 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 7.72 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n-1.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 12.75
\nEvaluated at bid price : 12.75
\nBid-YTW : 4.15 %<\/td>\n<\/tr>\n
TD.PR.Q<\/td>\nPerpetual-Discount<\/td>\n-1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.68
\nEvaluated at bid price : 19.68
\nBid-YTW : 7.22 %<\/td>\n<\/tr>\n
RY.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.84 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 16.00
\nEvaluated at bid price : 16.00
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n
WFS.PR.A<\/td>\nSplitShare<\/td>\n-1.81 %<\/td>\nAsset coverage of 1.0+:1 as of February 19 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2011-06-30
\nMaturity Price : 10.00
\nEvaluated at bid price : 7.61
\nBid-YTW : 18.97 %<\/td>\n<\/tr>\n
W.PR.H<\/td>\nPerpetual-Discount<\/td>\n-1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.21
\nEvaluated at bid price : 19.21
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n
BCE.PR.F<\/td>\nFixedFloater<\/td>\n-1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.25
\nBid-YTW : 7.19 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 16.57
\nEvaluated at bid price : 16.57
\nBid-YTW : 7.69 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n-1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 16.58
\nEvaluated at bid price : 16.58
\nBid-YTW : 7.82 %<\/td>\n<\/tr>\n
CU.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 21.90
\nEvaluated at bid price : 21.90
\nBid-YTW : 6.67 %<\/td>\n<\/tr>\n
CM.PR.J<\/td>\nPerpetual-Discount<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 15.05
\nEvaluated at bid price : 15.05
\nBid-YTW : 7.60 %<\/td>\n<\/tr>\n
NA.PR.M<\/td>\nPerpetual-Discount<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 20.35
\nEvaluated at bid price : 20.35
\nBid-YTW : 7.46 %<\/td>\n<\/tr>\n
BNS.PR.J<\/td>\nPerpetual-Discount<\/td>\n-1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 6.83 %<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nPerpetual-Discount<\/td>\n-1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 17.77
\nEvaluated at bid price : 17.77
\nBid-YTW : 6.85 %<\/td>\n<\/tr>\n
TD.PR.C<\/td>\nFixedReset<\/td>\n-1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 23.36
\nEvaluated at bid price : 23.40
\nBid-YTW : 5.29 %<\/td>\n<\/tr>\n
BCE.PR.A<\/td>\nFixedFloater<\/td>\n-1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 16.31
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
RY.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 16.16
\nEvaluated at bid price : 16.16
\nBid-YTW : 7.03 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 17.09
\nEvaluated at bid price : 17.09
\nBid-YTW : 7.62 %<\/td>\n<\/tr>\n
DF.PR.A<\/td>\nSplitShare<\/td>\n-1.34 %<\/td>\nAsset coverage of 1.3+:1 as of February 13 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2014-12-01
\nMaturity Price : 10.00
\nEvaluated at bid price : 8.11
\nBid-YTW : 9.67 %<\/td>\n<\/tr>\n
FFN.PR.A<\/td>\nSplitShare<\/td>\n-1.33 %<\/td>\nAsset coverage of 1.0+:1 as of February 13 according to the company<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2014-12-01
\nMaturity Price : 10.00
\nEvaluated at bid price : 5.95
\nBid-YTW : 16.56 %<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetual-Discount<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 15.90
\nEvaluated at bid price : 15.90
\nBid-YTW : 7.14 %<\/td>\n<\/tr>\n
TD.PR.O<\/td>\nPerpetual-Discount<\/td>\n-1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 18.23
\nEvaluated at bid price : 18.23
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
NA.PR.K<\/td>\nPerpetual-Discount<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 20.26
\nEvaluated at bid price : 20.26
\nBid-YTW : 7.31 %<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 16.30
\nEvaluated at bid price : 16.30
\nBid-YTW : 6.97 %<\/td>\n<\/tr>\n
BCE.PR.Z<\/td>\nFixedFloater<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.75
\nBid-YTW : 7.13 %<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nPerpetual-Discount<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 15.85
\nEvaluated at bid price : 15.85
\nBid-YTW : 7.54 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nPerpetual-Discount<\/td>\n-1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 18.17
\nEvaluated at bid price : 18.17
\nBid-YTW : 7.69 %<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 4.76 %<\/td>\n<\/tr>\n
CM.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 18.15
\nEvaluated at bid price : 18.15
\nBid-YTW : 7.56 %<\/td>\n<\/tr>\n
IGM.PR.A<\/td>\nOpRet<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2013-06-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.21
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
ENB.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 23.10
\nEvaluated at bid price : 23.36
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n
GWO.PR.J<\/td>\nFixedReset<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 24.45
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
STW.PR.A<\/td>\nInterest-Bearing<\/td>\n1.02 %<\/td>\nAsset coverage of 1.5+:1 based on Capital Unit NAV of 2.48<\/a> and 2.12 Capital Units per preferred.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2009-12-31
\nMaturity Price : 10.00
\nEvaluated at bid price : 9.86
\nBid-YTW : 8.74 %<\/td>\n<\/tr>\n
NA.PR.N<\/td>\nFixedReset<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 22.19
\nEvaluated at bid price : 22.25
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetual-Discount<\/td>\n1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.46
\nEvaluated at bid price : 19.46
\nBid-YTW : 7.60 %<\/td>\n<\/tr>\n
GWO.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 20.50
\nEvaluated at bid price : 20.50
\nBid-YTW : 7.21 %<\/td>\n<\/tr>\n
BNS.PR.P<\/td>\nFixedReset<\/td>\n1.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 22.81
\nEvaluated at bid price : 22.90
\nBid-YTW : 4.60 %<\/td>\n<\/tr>\n
BAM.PR.H<\/td>\nOpRet<\/td>\n1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2012-03-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.40
\nBid-YTW : 8.56 %<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetual-Discount<\/td>\n1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 18.14
\nEvaluated at bid price : 18.14
\nBid-YTW : 7.52 %<\/td>\n<\/tr>\n
CL.PR.B<\/td>\nPerpetual-Discount<\/td>\n2.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 7.37 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nPerpetual-Discount<\/td>\n2.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetual-Discount<\/td>\n3.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 16.01
\nEvaluated at bid price : 16.01
\nBid-YTW : 7.06 %<\/td>\n<\/tr>\n
SBN.PR.A<\/td>\nSplitShare<\/td>\n4.59 %<\/td>\nAsset coverage of 1.5-:1 as of February 19 according to Mulvihill<\/a>.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2014-12-01
\nMaturity Price : 10.00
\nEvaluated at bid price : 8.65
\nBid-YTW : 8.34 %<\/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
GWO.PR.X<\/td>\nOpRet<\/td>\n125,983<\/td>\nRBC crossed 120,000 at 25.10.
\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2013-09-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.05
\nBid-YTW : 4.67 %<\/td>\n<\/tr>\n
RY.PR.I<\/td>\nFixedReset<\/td>\n44,835<\/td>\nRBC bought 10,000 from Scotia at 22.00.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 22.21
\nEvaluated at bid price : 22.25
\nBid-YTW : 4.67 %<\/td>\n<\/tr>\n
RY.PR.R<\/td>\nFixedReset<\/td>\n37,644<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.25
\nBid-YTW : 6.18 %<\/td>\n<\/tr>\n
BNS.PR.X<\/td>\nFixedReset<\/td>\n32,837<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.16
\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n
BMO.PR.H<\/td>\nPerpetual-Discount<\/td>\n30,916<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-02-27
\nMaturity Price : 19.75
\nEvaluated at bid price : 19.75
\nBid-YTW : 6.77 %<\/td>\n<\/tr>\n
TD.PR.G<\/td>\nFixedReset<\/td>\n29,930<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.12
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
There were 33 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

PerpetualDiscounts closed the month on a sour note, losing nearly 80bp to close yielding 7.29%, equivalent to 10.21% interest at the standard equivalency factor of 1.4x. Long Corporates now yield about 7.5%, so the pre-tax …<\/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-5678","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/5678","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=5678"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/5678\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}