{"id":715,"date":"2007-03-27T23:57:08","date_gmt":"2007-03-28T03:57:08","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=715"},"modified":"2007-03-27T23:57:08","modified_gmt":"2007-03-28T03:57:08","slug":"march-27-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=715","title":{"rendered":"March 27, 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>\n4.18%<\/td>\n4.08%<\/td>\n75,403<\/td>\n3.82<\/td>\n1<\/td>\n-0.1984%<\/td>\n1,048.6<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.98%<\/td>\n3.90%<\/td>\n95.692<\/td>\n11.14<\/td>\n5<\/td>\n+0.0246%<\/td>\n1,038.9<\/td>\n<\/tr>\n
Floater<\/td>\n4.72%<\/td>\n-19.45%<\/td>\n77,169<\/td>\n0.14<\/td>\n3<\/td>\n+0.1322%<\/td>\n1,055.0<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.71%<\/td>\n2.95%<\/td>\n83,144<\/td>\n2.16<\/td>\n17<\/td>\n+0.0775%<\/td>\n1,035.3<\/td>\n<\/tr>\n
Split-Share<\/td>\n4.98%<\/td>\n2.97%<\/td>\n166,457<\/td>\n3.31<\/td>\n14<\/td>\n+0.2290%<\/td>\n1,055.4<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.50%<\/td>\n5.03%<\/td>\n64,622<\/td>\n2.30<\/td>\n5<\/td>\n-0.2258%<\/td>\n1,041.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.01%<\/td>\n3.72%<\/td>\n226,066<\/td>\n5.06<\/td>\n53<\/td>\n+0.0964%<\/td>\n1,059.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.53%<\/td>\n4.54%<\/td>\n809,167<\/td>\n15.39<\/td>\n10<\/td>\n-0.0432%<\/td>\n1,067.0<\/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 major price changes in index-included issues 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.H<\/td>\nPerpetualPremium<\/td>\n262,753<\/td>\nTD crossed 100,000 at 26.00, then 50,000 at the same price. Now with a pre-tax bid-YTW of 4.31% based on a bid of $25.90 and a call 2014-10-30 at $25.00.<\/td>\n<\/tr>\n
MFC.PR.A<\/td>\nOpRet<\/td>\n155,870<\/td>\nScotia crossed 60,000 at 26.55, National Bank crossed 32,500 at 26.50 and Desjardins crossed 50,000 at 26.55. Now with a pre-tax bid-YTW of 3.33% based on a bid of 26.49 and a softMaturity<\/a> 2015-12-18 at 25.00. Well … the interest-equivalent (at Ontario’s factor of 1.4x<\/a>) is at least a small spread over bonds!<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetualPremium<\/td>\n106,800<\/td>\nDesjardins crossed 100,000 at $26.35. Now with a pre-tax bid-YTW of 4.28% based on a bid of $26.32 and a call 2014-11-30 at $25.00<\/td>\n<\/tr>\n
BMO.PR.G<\/td>\nOpRet<\/td>\n78,218<\/td>\nNow with a pre-tax bid-YTW of 3.73% based on a bid of 25.23 and a call 2007-9-24 at $25.00. I’ll bet not just a nickel, but a whole dime<\/em> that it gets called ASAP and that BMO won’t wait for the softMaturity 2008-5-24. The interest-equivalent to the September call is 5.22% – money-market almost-equivalents could get a lot worse … provided, of course, that you can buy at the bid and not pay commission. At the ask of 25.28, the YTW is 3.32% … still not bad, but it takes a lot of the fun out of it.<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nPerpetualPremium<\/td>\n56,575<\/td>\nRBC crossed 50,000 at 26.25. Now with a pre-tax bid-YTW of 4.14% based on a bid of $26.25 and a call 2014-5-28 at $25.00.<\/td>\n<\/tr>\n<\/table>\n

There were seventeen other “$25 p.v. equivalent” index-included issues with over 10,000 shares traded today.<\/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-715","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/715","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=715"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/715\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}