{"id":703,"date":"2007-03-20T22:03:37","date_gmt":"2007-03-21T02:03:37","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=703"},"modified":"2007-03-20T22:03:37","modified_gmt":"2007-03-21T02:03:37","slug":"march-20-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=703","title":{"rendered":"March 20, 2007"},"content":{"rendered":"
\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>\n4.09%<\/td>\n3.92%<\/td>\n77,563<\/td>\n3.85<\/td>\n1<\/td>\n-0.3557%<\/td>\n1,051.1<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.96%<\/td>\n3.47%<\/td>\n98,961<\/td>\n4.64<\/td>\n5<\/td>\n+0.0395%<\/td>\n1,044.4<\/td>\n<\/tr>\n
Floater<\/td>\n4.72%<\/td>\n-18.72%<\/td>\n78,534<\/td>\n0.32<\/td>\n3<\/td>\n+0.0394%<\/td>\n1,053.9<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.71%<\/td>\n2.66%<\/td>\n75,429<\/td>\n2.12<\/td>\n17<\/td>\n-0.0210%<\/td>\n1,034.6<\/td>\n<\/tr>\n
Split-Share<\/td>\n4.99%<\/td>\n2.04%<\/td>\n180,075<\/td>\n3.33<\/td>\n14<\/td>\n+0.1509%<\/td>\n1,053.1<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.50%<\/td>\n4.70%<\/td>\n66,284<\/td>\n2.32<\/td>\n5<\/td>\n-0.0077%<\/td>\n1,041.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.00%<\/td>\n3.82%<\/td>\n234,024<\/td>\n5.15<\/td>\n53<\/td>\n+0.0229%<\/td>\n1,058.9<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.52%<\/td>\n4.52%<\/td>\n891,025<\/td>\n11.62<\/td>\n10<\/td>\n+0.0164%<\/td>\n1,069.1<\/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
GWO.PR.E<\/td>\nOpRet<\/td>\n-1.0409%<\/td>\nStill on credit watch<\/a> by DBRS<\/a> as the market awaits information regarding their financing of the Putnam purchase. This issue has an issuer bid outstanding<\/a>, although no shares were purchased under last year’s plan. Now with a pre-tax bid-YTW of 2.41% based on a bid of 26.62 and a call 2009-4-30 at $25.50 … if the company waits until the first possible par-value call, 2011-4-30, it will have yielded 3.00%; and if the issue lasts until its softMaturity<\/a> 2014-3-30, it will have yielded 3.64%. Take your pick!<\/td>\n<\/tr>\n<\/table>\n\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
CM.PR.D<\/td>\nPerpetualPremium<\/td>\n507,468<\/td>\nThe last two trades of note were a Desjardins cross of 50,000 at 27.07 and a TD cross of 50,000 at 27.08. Now with a pre-tax bid-YTW of 2.90% based on a bid of $27.01 and a call 2008-5-30 at $26.00. Sounds pricy to me!<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nPerpetualPremium<\/td>\n263,800<\/td>\nThe closing trade was RBC’s cross of 100,000 at $26.18. Now with a pre-tax bid-YTW of 4.12% based on a bid of $26.25 and a call 2014-5-28 at $25.00. Note that Scotiabank has announced a new issue<\/a>.<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualPremium<\/td>\n203,250<\/td>\nRBC crossed 100,000 at $26.18, then National Bank crossed 90,000 at $26.15. Now with a pre-tax bid-YTW of 4.18% based on a bid of $26.15 and a call 2014-4-29 at $25.00.<\/td>\n<\/tr>\n
PWF.PR.J<\/td>\nOpRet<\/td>\n156,649<\/td>\nDesjardins crossed 150,000 at $27.00. Now with a pre-tax bid-YTW of 2.10% based on a bid of 26.90 and a call 2008-5-30 at $26.00. I discussed earlier<\/a> the chances of it getting redeemed before its time. And I haven’t changed my mind since then!<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nPerpetualDiscount<\/td>\n115,418<\/td>\nNow with a pre-tax bid-YTW of 4.52% based on a bid of $24.91 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloatingRate<\/td>\n102,050<\/td>\nNesbitt crossed 100,000 at 24.90.<\/td>\n<\/tr>\n<\/table>\n

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

<\/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-703","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/703","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=703"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/703\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}