{"id":584,"date":"2007-02-15T21:10:34","date_gmt":"2007-02-16T01:10:34","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=584"},"modified":"2007-02-15T21:10:34","modified_gmt":"2007-02-16T01:10:34","slug":"february-14-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=584","title":{"rendered":"February 15, 2007"},"content":{"rendered":"

Hell. I have just realized that instead of copying<\/em> February 14 as a template, I have instead over-written<\/em> it. All that deathless prose, gone! Sorry.<\/p>\n

\n\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>\n4.07%<\/td>\n4.08%<\/td>\n28,150<\/td>\n17.28<\/td>\n1<\/td>\n0.0000%<\/td>\n1,044.0<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.81%<\/td>\n3.47%<\/td>\n89,478<\/td>\n8.17<\/td>\n7<\/td>\n+0.0339%<\/td>\n1,042.8<\/td>\n<\/tr>\n
Floater<\/td>\n4.46%<\/td>\n-24.20%<\/td>\n55,828<\/td>\n3.32<\/td>\n5<\/td>\n+0.0315%<\/td>\n1,051.3<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.71%<\/td>\n2.28%<\/td>\n77,183<\/td>\n2.08<\/td>\n18<\/td>\n-0.0268%<\/td>\n1,031.0<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.09%<\/td>\n1.70%<\/td>\n273,487<\/td>\n2.64<\/td>\n14<\/td>\n-0.0213%<\/td>\n1,044.7<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.48%<\/td>\n3.47%<\/td>\n58,743<\/td>\n2.36<\/td>\n5<\/td>\n+0.2675%<\/td>\n1,037.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.06%<\/td>\n3.76%<\/td>\n227,505<\/td>\n5.06<\/td>\n51<\/td>\n+0.0312%<\/td>\n1,053.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.52%<\/td>\n4.56%<\/td>\n1,178,412<\/td>\n16.27<\/td>\n11<\/td>\n+0.0693%<\/td>\n1,058.8<\/td>\n<\/tr>\n<\/table>\n<\/div>\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 significant 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
GWO.PR.I<\/td>\nPerpetualDiscount<\/td>\n84,315<\/td>\nNesbitt crossed 75,000 at $25.00. Now with a pre-tax bid-YTW of 4.55% based on a bid of $25.01 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
WFS.PR.A<\/td>\nSplitShare<\/td>\n163,312<\/td>\nScotia crossed 100,000 @ 10.70, then Desjardins bought 25,000 from RBC in two tranches at the same price. Desjardins then crossed 25,000 at $10.70. Nice to see some action in this issue … it’s a perennial favourite of mine. Now with a pre-tax bid-YTW of 3.70% based on a bid of $10.70 and a hardMaturity<\/a> 2011-6-30 at $10.00. That’s an interest-equivalent of nearly 5.2% at the Ontario Equivalency<\/a> … not bad for a Pfd-2 (DBRS<\/a>) with a known maturity of less than five years!<\/td>\n<\/tr>\n
GWO.PR.X<\/td>\nOpRet<\/td>\n51,974<\/td>\nI’m not such a big fan of this one … pre-tax bid-YTW of 2.57% based on a bid of $27.55 and a call 2009-10-30 at $26.00. Given the issuer bid<\/a>, it doesn’t seem likely to me that it will survive to its softMaturity<\/a> 2013-9-29 to yield 3.20% (especially considering that one can buy GWL bonds maturiting in 2018 to yield about 4.75% – do the math, people!) … but it takes two to make a market!<\/td>\n<\/tr>\n
CM.PR.J<\/td>\nPerpetualDiscount<\/td>\n50,480<\/td>\nRecent new issue<\/a>. Now with a pre-tax bid-YTW of 4.53% based on a bid of $24.90 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
WN.PR.E<\/td>\nPerpetualPremium (but not for long, I suspect!)<\/td>\n43,178<\/td>\nCredit Watch Negative<\/a>! Nesbitt crossed 11,500 at $24.65, CIBC bought 14,500 from Nesbitt at the same price. Now with a pre-tax bid-YTW of 4.88% based on a bid of $24.61 and a limitMaturity. Weston bonds maturing in 2031 are now trading to yield about maybe 5.85% (interest) Make of that what you will.<\/td>\n<\/tr>\n<\/table>\n

There were nineteen other “$25 p.v. equivalent” index-included issues with over 10,000 shares traded today.\n<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Hell. I have just realized that instead of copying February 14 as a template, I have instead over-written it. All that deathless prose, gone! Sorry. Note that these indices are experimental; the absolute and relative …<\/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-584","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/584","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=584"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/584\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}