{"id":7027,"date":"2009-06-26T00:15:45","date_gmt":"2009-06-26T04:15:45","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=7027"},"modified":"2009-06-26T00:15:45","modified_gmt":"2009-06-26T04:15:45","slug":"june-25-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=7027","title":{"rendered":"June 25, 2009"},"content":{"rendered":"

The populist movement against Wall Street is having the desired effect<\/a>:<\/p>\n

Wall Street\u2019s largest trade group has started a campaign to counter the \u201cpopulist\u201d backlash against bankers, enlisting two former aides to Treasury Secretary Henry Paulson to spearhead the effort.
…<\/b>
Michele Davis, Paulson\u2019s former spokeswoman, and Jim Wilkinson, his former chief of staff, are among those leading the effort. SIFMA is paying their firm, Brunswick Group LLC, a monthly retainer of $70,000, the documents show. Both Davis and Wilkinson declined to comment. Paulson left office in January.<\/p>\n

Assisting them is a Democratic polling company, Brilliant Corners Research and Strategies, which is paid $5,000 a month. It is run by pollster Cornell Belcher, who worked on President Barack Obama\u2019s campaign. BKSH & Associates Worldwide, a lobbying firm chaired by Republican strategist Charlie Black, signed on for $10,000.<\/p><\/blockquote>\n

I’ve been figuring that Dubai would be the logical refuge for hedge funds made unwelcome in the G-7. But who knows? Maybe it’s Singapore<\/a>:<\/p>\n

Assan Din, a former Lehman Brothers Holdings Inc. credit trader, is setting up a hedge fund to trade corporate bonds and derivatives in Asia.<\/p>\n

SaKa Capital\u2019s fund, which will have a capacity of more than $500 million, will start in September with $25 million to $50 million sourced mainly from founding members and friends, Din, 38, said. The Singapore-based firm will subsequently raise capital from institutional investors, including U.S. pension funds and endowments, once it builds a track record, he added.<\/p><\/blockquote>\n

A nice little bump in volume today, with a good solid up-day for preferreds. I suspect that some of the relatively short list of price movers were there because some players didn’t know (or didn’t care) that CM 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>\n-0.3170 %<\/td>\n1,216.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n7.09 %<\/td>\n5.52 %<\/td>\n35,008<\/td>\n16.29<\/td>\n1<\/td>\n0.0000 %<\/td>\n2,126.6<\/td>\n<\/tr>\n
Floater<\/td>\n3.13 %<\/td>\n3.48 %<\/td>\n77,919<\/td>\n18.56<\/td>\n3<\/td>\n-0.3170 %<\/td>\n1,520.0<\/td>\n<\/tr>\n
OpRet<\/td>\n4.96 %<\/td>\n2.64 %<\/td>\n127,509<\/td>\n0.10<\/td>\n14<\/td>\n-0.0420 %<\/td>\n2,200.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.77 %<\/td>\n6.35 %<\/td>\n67,090<\/td>\n4.21<\/td>\n3<\/td>\n0.1819 %<\/td>\n1,890.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n5.99 %<\/td>\n8.19 %<\/td>\n21,362<\/td>\n0.50<\/td>\n1<\/td>\n-0.1994 %<\/td>\n1,989.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1125 %<\/td>\n1,740.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.33 %<\/td>\n6.37 %<\/td>\n162,056<\/td>\n13.45<\/td>\n71<\/td>\n0.1125 %<\/td>\n1,602.8<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.67 %<\/td>\n4.77 %<\/td>\n498,361<\/td>\n4.35<\/td>\n40<\/td>\n0.2120 %<\/td>\n2,015.1<\/td>\n<\/tr>\n<\/table>\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
CIU.PR.B<\/td>\nFixedReset<\/td>\n-3.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.55
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
BAM.PR.H<\/td>\nOpRet<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2012-03-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.21
\nBid-YTW : 5.43 %<\/td>\n<\/tr>\n
NA.PR.N<\/td>\nFixedReset<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 25.09
\nEvaluated at bid price : 25.14
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 20.03
\nEvaluated at bid price : 20.03
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
CM.PR.L<\/td>\nFixedReset<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.94
\nBid-YTW : 4.64 %<\/td>\n<\/tr>\n
BAM.PR.J<\/td>\nOpRet<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2018-03-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.10
\nBid-YTW : 7.25 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 25.15
\nEvaluated at bid price : 25.20
\nBid-YTW : 4.94 %<\/td>\n<\/tr>\n
ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 16.80
\nEvaluated at bid price : 16.80
\nBid-YTW : 7.24 %<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nPerpetual-Discount<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 18.41
\nEvaluated at bid price : 18.41
\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n
PWF.PR.M<\/td>\nFixedReset<\/td>\n1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-02
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.40
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n
HSB.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 19.65
\nEvaluated at bid price : 19.65
\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n
CM.PR.M<\/td>\nFixedReset<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.87
\nBid-YTW : 4.77 %<\/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
BMO.PR.P<\/td>\nFixedReset<\/td>\n318,203<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 23.14
\nEvaluated at bid price : 25.07
\nBid-YTW : 5.08 %<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nPerpetual-Discount<\/td>\n74,912<\/td>\nNesbitt crossed 13,400 at 18.42.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 18.41
\nEvaluated at bid price : 18.41
\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n
CM.PR.M<\/td>\nFixedReset<\/td>\n60,770<\/td>\nGlobal Securities (who?) crossed 17,100 at 27.38 (special settlement, I’m sure) and then crossed another 17,100 at 26.72 in what appears to be some kind of dividend capture scenario.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.87
\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nPerpetual-Discount<\/td>\n57,875<\/td>\nRBC crossed 20,600 at 18.75.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
TD.PR.O<\/td>\nPerpetual-Discount<\/td>\n45,919<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-06-25
\nMaturity Price : 20.06
\nEvaluated at bid price : 20.06
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
MFC.PR.E<\/td>\nFixedReset<\/td>\n42,225<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-10-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.16
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
There were 56 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The populist movement against Wall Street is having the desired effect: Wall Street\u2019s largest trade group has started a campaign to counter the \u201cpopulist\u201d backlash against bankers, enlisting two former aides to Treasury Secretary Henry …<\/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-7027","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7027","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=7027"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7027\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}