{"id":6640,"date":"2009-05-25T19:40:49","date_gmt":"2009-05-25T23:40:49","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=6640"},"modified":"2009-05-25T19:40:49","modified_gmt":"2009-05-25T23:40:49","slug":"may-25-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=6640","title":{"rendered":"May 25, 2009"},"content":{"rendered":"

Holy smokes, how ’bout them floaters, eh? I’ll have to write a follow-up to my article<\/a> … maybe give another another seminar<\/a>.<\/p>\n

Volume continued to be elevated on what was supposed to be a sleepy day, given the US holiday, assisted by large blocks in SLF issues, which went ex-Dividend today.<\/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>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n5.9595 %<\/td>\n1,234.2<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n5.9595 %<\/td>\n1,996.0<\/td>\n<\/tr>\n
Floater<\/td>\n3.05 %<\/td>\n3.70 %<\/td>\n82,829<\/td>\n18.01<\/td>\n3<\/td>\n5.9595 %<\/td>\n1,541.9<\/td>\n<\/tr>\n
OpRet<\/td>\n5.03 %<\/td>\n3.76 %<\/td>\n128,196<\/td>\n0.98<\/td>\n15<\/td>\n0.0344 %<\/td>\n2,160.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.94 %<\/td>\n5.75 %<\/td>\n56,150<\/td>\n4.23<\/td>\n3<\/td>\n-0.1555 %<\/td>\n1,824.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n6.00 %<\/td>\n7.17 %<\/td>\n26,403<\/td>\n0.58<\/td>\n1<\/td>\n-0.1996 %<\/td>\n1,987.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1175 %<\/td>\n1,715.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.38 %<\/td>\n6.41 %<\/td>\n157,330<\/td>\n13.31<\/td>\n71<\/td>\n0.1175 %<\/td>\n1,580.2<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.73 %<\/td>\n4.97 %<\/td>\n489,315<\/td>\n4.46<\/td>\n37<\/td>\n-0.1954 %<\/td>\n1,979.3<\/td>\n<\/tr>\n<\/table>\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
MFC.PR.C<\/td>\nPerpetual-Discount<\/td>\n-2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 17.87
\nEvaluated at bid price : 17.87
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
NA.PR.P<\/td>\nFixedReset<\/td>\n-1.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.61
\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n
ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 16.35
\nEvaluated at bid price : 16.35
\nBid-YTW : 7.39 %<\/td>\n<\/tr>\n
NA.PR.O<\/td>\nFixedReset<\/td>\n-1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.35
\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 20.91
\nEvaluated at bid price : 20.91
\nBid-YTW : 6.67 %<\/td>\n<\/tr>\n
RY.PR.B<\/td>\nPerpetual-Discount<\/td>\n-1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 18.80
\nEvaluated at bid price : 18.80
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
RY.PR.P<\/td>\nFixedReset<\/td>\n-1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.40
\nBid-YTW : 4.97 %<\/td>\n<\/tr>\n
MFC.PR.D<\/td>\nFixedReset<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.59
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n
IGM.PR.A<\/td>\nOpRet<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2009-07-30
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.39
\nBid-YTW : 1.77 %<\/td>\n<\/tr>\n
PWF.PR.I<\/td>\nPerpetual-Discount<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 22.91
\nEvaluated at bid price : 23.15
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
PWF.PR.M<\/td>\nFixedReset<\/td>\n1.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-02
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.30
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nPerpetual-Discount<\/td>\n1.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 17.56
\nEvaluated at bid price : 17.56
\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 10.51
\nEvaluated at bid price : 10.51
\nBid-YTW : 3.79 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n4.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 10.75
\nEvaluated at bid price : 10.75
\nBid-YTW : 3.70 %<\/td>\n<\/tr>\n
TRI.PR.B<\/td>\nFloater<\/td>\n9.24 %<\/td>\nLight volume but a significant move none-the-less! Traded 1,450 shares in a range of 18.00-19.00 before closing at 17.50-18.99 (!), 3×10.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 2.26 %<\/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
SLF.PR.E<\/td>\nPerpetual-Discount<\/td>\n213,800<\/td>\nNational crossed three blocks, one of 100,000 shares, two of 50,000 shares, all at 17.00.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 6.62 %<\/td>\n<\/tr>\n
RY.PR.I<\/td>\nFixedReset<\/td>\n106,822<\/td>\nCommission Direct (who?) bought 10,200 from TD at 24.40, and another 15,600 from anonymous at 24.35.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 24.31
\nEvaluated at bid price : 24.36
\nBid-YTW : 4.35 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetual-Discount<\/td>\n100,362<\/td>\nNational Bank sold 11,000 to HSBC, 17,700 to CIBC, 32,300 to Nesbitt and another 10,400 to Nesbitt, all at 17.00.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 16.93
\nEvaluated at bid price : 16.93
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
SLF.PR.F<\/td>\nFixedReset<\/td>\n75,365<\/td>\nNesbitt crossed 22,100 at 25.78.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.77
\nBid-YTW : 5.36 %<\/td>\n<\/tr>\n
MFC.PR.D<\/td>\nFixedReset<\/td>\n72,596<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.59
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n
RY.PR.G<\/td>\nPerpetual-Discount<\/td>\n47,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-05-25
\nMaturity Price : 18.18
\nEvaluated at bid price : 18.18
\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n
There were 43 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Holy smokes, how ’bout them floaters, eh? I’ll have to write a follow-up to my article … maybe give another another seminar. Volume continued to be elevated on what was supposed to be a sleepy …<\/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-6640","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6640","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=6640"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6640\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}