{"id":728,"date":"2007-03-30T23:15:58","date_gmt":"2007-03-31T03:15:58","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=728"},"modified":"2007-03-30T23:15:58","modified_gmt":"2007-03-31T03:15:58","slug":"march-30-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=728","title":{"rendered":"March 30, 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>\n4.21%<\/td>\n4.03%<\/td>\n67,370<\/td>\n3.82<\/td>\n1<\/td>\n+0.0000%<\/td>\n1,052.5<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.00%<\/td>\n3.90%<\/td>\n96,811<\/td>\n17.23<\/td>\n5<\/td>\n+0.0874%<\/td>\n1,037.5<\/td>\n<\/tr>\n
Floater<\/td>\n4.72%<\/td>\n-20.06%<\/td>\n74,500<\/td>\n0.32<\/td>\n3<\/td>\n+0.1313%<\/td>\n1,055.6<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.72%<\/td>\n3.04%<\/td>\n85,479<\/td>\n2.16<\/td>\n17<\/td>\n-0.0828%<\/td>\n1,034.0<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.01%<\/td>\n3.14%<\/td>\n158,951<\/td>\n3.31<\/td>\n14<\/td>\n+0.0234%<\/td>\n1,052.8<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.51%<\/td>\n5.36%<\/td>\n64,757<\/td>\n2.32<\/td>\n5<\/td>\n+0.0934%<\/td>\n1,045.9<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.02%<\/td>\n3.56%<\/td>\n219,123<\/td>\n5.15<\/td>\n53<\/td>\n-0.0031%<\/td>\n1,059.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.53%<\/td>\n4.54%<\/td>\n762,721<\/td>\n15.37<\/td>\n10<\/td>\n-0.0157%<\/td>\n1,066.8<\/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
FFN.PR.A<\/td>\nSplitShare<\/td>\n-1.5109%<\/td>\nMay be extending term<\/a> soon, which will be really good for the issue’s fundamentals as long as there is nothing horrible in the as-yet-unreleased details. Now with a pre-tax bid-YTW of 3.52% based on a bid of $10.43 and a hardMaturity<\/a> 2009-12-1 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
PWF.PR.F<\/td>\nPerpetualPremium<\/td>\n51,950<\/td>\nNow with a pre-tax bid-YTW of 4.47% based on a bid of 25.90 and a call 2010-12-30 at $25.00<\/td>\n<\/tr>\n
BCE.PR.Z<\/td>\nFixedFloater<\/td>\n33,021<\/td>\n\u00a0<\/td>\n<\/tr>\n
RY.PR.F<\/td>\nPerpetualDiscount<\/td>\n32,681<\/td>\nNow with a pre-tax bid-YTW of 4.53% based on a bid of $24.68 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nPerpetualDiscount<\/td>\n31,950<\/td>\nRBC crossed 25,000 at $25.00. Now with a pre-tax bid-YTW of 4.53% based on a bid of $24.87 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.J<\/td>\nPerpetualDiscount<\/td>\n23,245<\/td>\nNow with a pre-tax bid-YTW of 4.53% based on a bid of $24.81 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n

Kudos to TD, who crossed 50,000 CCS.PR.A, a Pfd-3 floater with the agonizing combination of fat coupon and current, long-standing,\u00a0call. The volume-average<\/a> is 324.5 shares per day. And, if truth be known, if it had sufficient credit quality & volume to index-included, it would be deemed a “PerpetualPremium” … the yield has a floor, which is now in operation [It pays 5.5%, NOT 90% of Canadian\u00a0Prime.]\u00a0and I refuse to call things floaters if they don’t actually float.<\/p>\n

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

And that’s it for another month, quarter, and sixth full year of operation of MAPF<\/a>.<\/p>\n

\n

\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-728","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/728","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=728"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/728\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}