{"id":650,"date":"2007-02-28T23:15:57","date_gmt":"2007-03-01T03:15:57","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=650"},"modified":"2007-02-28T23:15:57","modified_gmt":"2007-03-01T03:15:57","slug":"february-28-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=650","title":{"rendered":"February 28, 2007"},"content":{"rendered":"
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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>\n4.14%<\/td>\n4.14%<\/td>\n23,614<\/td>\n17.17<\/td>\n1<\/td>\n+0.0000%<\/td>\n1,047.4<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.82%<\/td>\n3.72%<\/td>\n79,765<\/td>\n6.24<\/td>\n7<\/td>\n+0.0304%<\/td>\n1,040.1<\/td>\n<\/tr>\n
Floater<\/td>\n4.47%<\/td>\n-21.08%<\/td>\n55,292<\/td>\n0.09<\/td>\n5<\/td>\n+0.2603%<\/td>\n1,049.2<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.72%<\/td>\n2.36%<\/td>\n74,704<\/td>\n2.05<\/td>\n18<\/td>\n+0.0864%<\/td>\n1,030.8<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.11%<\/td>\n0.23%<\/td>\n231,489<\/td>\n2.79<\/td>\n14<\/td>\n+0.1761%<\/td>\n1,043.4<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.49%<\/td>\n4.48%<\/td>\n63,839<\/td>\n2.35<\/td>\n5<\/td>\n-0.0038%<\/td>\n1,039.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.03%<\/td>\n3.59%<\/td>\n212,956<\/td>\n5.06<\/td>\n51<\/td>\n+0.0224%<\/td>\n1,055.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.53%<\/td>\n4.54%<\/td>\n1,048,109<\/td>\n13.79<\/td>\n11<\/td>\n+0.1157%<\/td>\n1,063.6<\/td>\n<\/tr>\n<\/table>\n<\/div>\n\n\n\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BCE.PR.Z<\/td>\nFixedFloater<\/td>\n-1.0510%<\/td>\nExchangeable with BCE.PR.Y next December 1. In the interim, they will pay about $0.35 more (~$1.00 vs. ~$0.65), so, at a close of $25.42-75 vs $25.02-39, they’re priced about right relative to their twin, anyway. Which is comforting, assuming you think a ratchet-rate is worth holding!<\/td>\n<\/tr>\n
GWO.PR.E<\/td>\nOpRet<\/td>\n+1.0226%<\/td>\nNow with a pre-tax bid-YTW of 2.11% based on a bid of $26.75 and a call 2009-4-30 at $25.50. The pre-tax yield is 2.83% if they last until they’re callable at par, 2011-4-30. And 3.53% if they last until their softMaturity<\/a> 2014-3-30 ! So place your bets … but remember the issuer bid<\/a>.<\/td>\n<\/tr>\n
CL.PR.B<\/td>\nPerpetualPremium<\/td>\n+1.0873%<\/td>\nAnother issue reliant on the idea that GWO has better things to do with their money<\/a> than call issued stock! Now with a pre-tax bid-YTW of -27.12% based on a bid of $26.63 and an immediate call at $26.00. It’s really a question of how long the game will last … to get a yield of 3.46%, you have to bet that there will be no call until 2009-1-30 at $25.50. There are a lot of people willing to make that bet, it seems! The issue was a stellar performer in February, with a total return of +2.5451% month\/month bid\/bid.<\/td>\n<\/tr>\n
PIC.PR.A<\/td>\nSplitShare<\/td>\n+2.2422%<\/td>\nRecovering from yesterday’s swoon<\/a>, but not by enough extra to overcome a horrible month … the issue is down 1.2987% month\/month bid\/bid at the closing quote of $15.96-08<\/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
BCE.PR.H<\/td>\nScraps (will switch to RatchetRate)<\/td>\n370,200<\/td>\nThis issue used to be BC.PR.E<\/a>. Nesbitt crossed 370,000 at $25.12.<\/td>\n<\/tr>\n
NA.PR.K<\/td>\nPerpetualPremium<\/td>\n203,800<\/td>\nDesjardins crossed 98,700 at $27.18. Now with a pre-tax bid-YTW of 2.62% based on a bid of $27.05 and a call 2008-06-14 at $26.00.<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n150,700<\/td>\nDesjardins crossed 30,000 at 24.90, then two tranches of 60,000 each at $24.91.<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nPerpetualDiscount<\/td>\n70,755<\/td>\nRecent new issue<\/a>. Now with a pre-tax bid-YTW of 4.51%, based on a bid of $25.15 and either a call at $25.00 on 2016-3-25, or a limitMaturity<\/a> – take your pick.<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetualPremium<\/td>\n57,880<\/td>\nNow with a pre-tax bid-YTW of 4.24% based on a bid of $26.70 and a call 2015-11-30 at $25.00<\/td>\n<\/tr>\n<\/table>\n

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

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<\/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-650","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/650","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=650"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/650\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}