{"id":724,"date":"2007-03-29T21:31:11","date_gmt":"2007-03-30T01:31:11","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=724"},"modified":"2007-03-29T21:31:11","modified_gmt":"2007-03-30T01:31:11","slug":"march-29-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=724","title":{"rendered":"March 29, 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>\n4.20%<\/td>\n4.02%<\/td>\n69,626<\/td>\n3.83<\/td>\n1<\/td>\n+0.1992%<\/td>\n1,052.5<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.00%<\/td>\n3.91%<\/td>\n97,951<\/td>\n17.22<\/td>\n5<\/td>\n-0.2827%<\/td>\n1,036.6<\/td>\n<\/tr>\n
Floater<\/td>\n4.72%<\/td>\n-19.05%<\/td>\n77,179<\/td>\n0.51<\/td>\n3<\/td>\n-0.0524%<\/td>\n1,054.2<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.71%<\/td>\n2.99%<\/td>\n85,619<\/td>\n2.16<\/td>\n17<\/td>\n-0.0569%<\/td>\n1,034.8<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.01%<\/td>\n3.13%<\/td>\n162,104<\/td>\n3.32<\/td>\n14<\/td>\n-0.1366%<\/td>\n1,052.6<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.52%<\/td>\n5.03%<\/td>\n64,879<\/td>\n2.32<\/td>\n5<\/td>\n+0.0890%<\/td>\n1,044.9<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.02%<\/td>\n3.55%<\/td>\n221,447<\/td>\n5.21<\/td>\n53<\/td>\n-0.0492%<\/td>\n1,059.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.53%<\/td>\n4.54%<\/td>\n774,284<\/td>\n15.38<\/td>\n10<\/td>\n+0.1090%<\/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
BSD.PR.A<\/td>\nInterestBearing<\/td>\n+1.0000%<\/td>\nOn slightly below-average volume, but with a good-sized (for this issue!) bid at the close. Now with a pre-tax bid-YTW of 5.92% (as INTEREST) based on a bid of $10.00 and a hardMaturity<\/a> 2015-3-31 at $10.00.<\/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.C<\/td>\nFixedFloater<\/td>\n58,550<\/td>\n\u00a0<\/td>\n<\/tr>\n
MFC.PR.A<\/td>\nOpRet<\/td>\n56,210<\/td>\nNow with a pre-tax bid-YTW of 3.31% based on a bid of $26.54 and a softMaturity<\/a> 2015-12-18 at $25.00. Early calls don’t make a lot of difference to the yield on this thing (i.e., it’s expected to lose $1.54 over about 7.75 years ANYWAY, so a call premium that declines at $0.25 p.a. is not a huge change) but do make it hard to set duration … and place bets on interest-rate moves.\u00a0<\/p>\n

Um … I didn’t mean “place bets”. I meant “act prudently in accordance with forecasts”.<\/td>\n<\/tr>\n

BAM.PR.H<\/td>\nOpRet<\/td>\n55,913<\/td>\nDesjardins crossed 50,000 at $27.03. Now with a pre-tax bid-YTW of 2.66% based on a bid of $26.91 and a call 2008-10-30 at $25.75. If it doesn’t make it to its softMaturity 2012-3-30 to yield 4.07%, there will be a very disappointed buyer!<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n29,338<\/td>\nNow with a pre-tax bid-YTW of 4.49% based on a bid of $24.81 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetualPremium<\/td>\n24,865<\/td>\nNow with a pre-tax bid-YTW of 4.75% based on a bid of $25.05 and either a call 2016-3-1 at $25.00, or a limitMaturity. Take your pick.<\/td>\n<\/tr>\n<\/table>\n

There were twelve 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-724","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/724","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=724"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/724\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}