{"id":751,"date":"2007-04-11T23:01:17","date_gmt":"2007-04-12T03:01:17","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=751"},"modified":"2007-04-11T23:01:17","modified_gmt":"2007-04-12T03:01:17","slug":"april-11-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=751","title":{"rendered":"April 11, 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>\n4.15%<\/td>\n4.12%<\/td>\n47,353<\/td>\n17.07<\/td>\n2<\/td>\n-0.8161%<\/td>\n1,041.7<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n4.98%<\/td>\n3.98%<\/td>\n88,663<\/td>\n17.12<\/td>\n6<\/td>\n+0.0805%<\/td>\n1,027.0<\/td>\n<\/tr>\n
Floater<\/td>\n4.58%<\/td>\n-17.80%<\/td>\n58,087<\/td>\n0.13<\/td>\n4<\/td>\n-0.1275%<\/td>\n1,054.5<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.72%<\/td>\n3.15%<\/td>\n84,881<\/td>\n2.13<\/td>\n17<\/td>\n+0.0050%<\/td>\n1,034.2<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.00%<\/td>\n3.77%<\/td>\n160,236<\/td>\n3.18<\/td>\n12<\/td>\n+0.0935%<\/td>\n1,049.4<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.51%<\/td>\n3.65%<\/td>\n64,109<\/td>\n2.29<\/td>\n5<\/td>\n+0.3053%<\/td>\n1,046.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.04%<\/td>\n3.95%<\/td>\n189,738<\/td>\n5.07<\/td>\n53<\/td>\n+0.0707%<\/td>\n1,058.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.53%<\/td>\n4.55%<\/td>\n933,621<\/td>\n16.32<\/td>\n11<\/td>\n+0.0366%<\/td>\n1,065.6<\/td>\n<\/tr>\n<\/table>\n<\/div>\n\n\n\n\n\n
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BCE.PR.H<\/td>\nRatchetRate<\/td>\n-1.0396%<\/td>\nI thought ratchets weren’t supposed to do this! These will be exchangeable into BCE.PR.G (fixed-reset) May 1, 2011. The BCE.PR.H are currently paying $0.09375 monthly = $1.125 annually = 4.5% = 75% of Canadian Prime.<\/td>\n<\/tr>\n
W.PR.H<\/td>\nPerpetualPremium<\/td>\n+1.0960%<\/td>\nOn volume of 6,291 shares, an active day for this issue. It traded as high as 27.00, closing at 26.75-89, 1×1. Now with a pre-tax bid-YTW of 4.15% based on a call 2013-2-14 at $25.00<\/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
AL.PR.F<\/td>\nScraps (would be Floater, but there are volume concerns)<\/td>\n164,229<\/td>\nWent ex-dividend today, and the indefatigable traders at Global were crossing 82,000 for cash<\/a> at 25.87, and the same number for regular settlement at 25.58.<\/td>\n<\/tr>\n
CM.PR.J<\/td>\nPerpetualDiscount<\/td>\n108,500<\/td>\nNow with a pre-tax bid-YTW of 4.54% based on a bid of 24.77 and a limitMaturity<\/a><\/td>\n<\/tr>\n
ACO.PR.A<\/td>\nOpRet<\/td>\n101,011<\/td>\nScotia crossed 50,000 at 27.65, then another 50,000 at the same price. Now with a pre-tax bid-YTW of 2.44% based on a bid of 27.51 and a call 2008-12-31 at $26.00. There is obviously at least one buyer hoping for the softMaturity<\/a> 2011-11-30 at $25.00, which will yield 3.56%. There are many such optimists: see Retractible Preferreds and Bonds<\/a>.<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nPerpetualDiscount<\/td>\n71,800<\/td>\nRecent new issue<\/a>. Now with a pre-tax bid-YTW of 4.53% based on a bid of 24.92 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nPerpetualPremium<\/td>\n28,860<\/td>\nNow with a pre-tax bid-YTW of 4.55% based on a bid of $25.26 and a call 2016-03-01 at $25.00.<\/td>\n<\/tr>\n<\/table>\n

There were seven 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-751","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/751","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=751"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/751\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}