{"id":7616,"date":"2009-08-21T20:07:26","date_gmt":"2009-08-22T00:07:26","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=7616"},"modified":"2009-08-21T20:07:26","modified_gmt":"2009-08-22T00:07:26","slug":"august-21-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=7616","title":{"rendered":"August 21, 2009"},"content":{"rendered":"<p>PerpetualDiscounts managed to keep the rally going today, with a gain of 18bp taking yields down to 5.61%. Today was the eighteenth consecutive trading day of advances, with the index gaining 9.71% total return in this span, with yields declining from 6.15% on <a href=\"http:\/\/www.prefblog.com\/?p=7361\">July 27<\/a> to 5.61% today.<\/p>\n<table border='1'>\n<tr>\n<td colspan='8'><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.1203 %<\/td>\n<td>1,441.6<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>6.04 %<\/td>\n<td>4.31 %<\/td>\n<td>59,797<\/td>\n<td>18.19<\/td>\n<td>1<\/td>\n<td>-0.0555 %<\/td>\n<td>2,541.9<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>3.16 %<\/td>\n<td>3.18 %<\/td>\n<td>71,203<\/td>\n<td>19.23<\/td>\n<td>2<\/td>\n<td>-0.1203 %<\/td>\n<td>1,801.0<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>4.84 %<\/td>\n<td>-11.51 %<\/td>\n<td>138,795<\/td>\n<td>0.09<\/td>\n<td>15<\/td>\n<td>0.0585 %<\/td>\n<td>2,282.3<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>5.69 %<\/td>\n<td>2.64 %<\/td>\n<td>102,542<\/td>\n<td>0.08<\/td>\n<td>3<\/td>\n<td>-0.2098 %<\/td>\n<td>2,038.9<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.0585 %<\/td>\n<td>2,086.9<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.72 %<\/td>\n<td>5.32 %<\/td>\n<td>71,712<\/td>\n<td>2.41<\/td>\n<td>4<\/td>\n<td>-0.0198 %<\/td>\n<td>1,879.6<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.62 %<\/td>\n<td>5.61 %<\/td>\n<td>189,963<\/td>\n<td>14.39<\/td>\n<td>67<\/td>\n<td>0.1787 %<\/td>\n<td>1,827.3<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>5.49 %<\/td>\n<td>4.03 %<\/td>\n<td>493,360<\/td>\n<td>4.13<\/td>\n<td>40<\/td>\n<td>0.0018 %<\/td>\n<td>2,105.6<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>HSB.PR.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.49 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 22.96<br \/>\nEvaluated at bid price : 23.15<br \/>\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>-1.47 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2013-09-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.11<br \/>\nBid-YTW : 4.18 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.M<\/td>\n<td>OpRet<\/td>\n<td>-1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2009-09-20<br \/>\nMaturity Price  : 26.00<br \/>\nEvaluated at bid price : 26.42<br \/>\nBid-YTW : -11.51 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 21.46<br \/>\nEvaluated at bid price : 21.75<br \/>\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.K<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 23.57<br \/>\nEvaluated at bid price : 23.76<br \/>\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.J<\/td>\n<td>OpRet<\/td>\n<td>1.03 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Soft Maturity<br \/>\nMaturity Date\t: 2018-03-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.40<br \/>\nBid-YTW : 5.31 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.P<\/td>\n<td>FixedReset<\/td>\n<td>1.08 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-10-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 27.04<br \/>\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.J<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.09 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 21.36<br \/>\nEvaluated at bid price : 21.36<br \/>\nBid-YTW : 5.30 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.09 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 23.86<br \/>\nEvaluated at bid price : 24.10<br \/>\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n<tr>\n<td>ELF.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.23 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 20.51<br \/>\nEvaluated at bid price : 20.51<br \/>\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n<tr>\n<td>IAG.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>1.34 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-01-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 27.27<br \/>\nBid-YTW : 4.19 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.L<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.39 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 21.57<br \/>\nEvaluated at bid price : 21.90<br \/>\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n<tr>\n<td>ELF.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.70 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 19.00<br \/>\nEvaluated at bid price : 19.00<br \/>\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.K<\/td>\n<td>Perpetual-Discount<\/td>\n<td>204,175<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 21.94<br \/>\nEvaluated at bid price : 22.06<br \/>\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.I<\/td>\n<td>Perpetual-Discount<\/td>\n<td>106,000<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 20.21<br \/>\nEvaluated at bid price : 20.21<br \/>\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.Q<\/td>\n<td>Perpetual-Discount<\/td>\n<td>85,020<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 24.83<br \/>\nEvaluated at bid price : 25.06<br \/>\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.Q<\/td>\n<td>FixedReset<\/td>\n<td>75,226<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-08-21<br \/>\nMaturity Price  : 23.47<br \/>\nEvaluated at bid price : 25.82<br \/>\nBid-YTW : 4.16 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.P<\/td>\n<td>FixedReset<\/td>\n<td>60,450<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2013-05-25<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.01<br \/>\nBid-YTW : 3.92 %<\/td>\n<\/tr>\n<tr>\n<td>HSB.PR.E<\/td>\n<td>FixedReset<\/td>\n<td>48,678<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-07-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 27.90<br \/>\nBid-YTW : 4.26 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 53 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>PerpetualDiscounts managed to keep the rally going today, with a gain of 18bp taking yields down to 5.61%. Today was the eighteenth consecutive trading day of advances, with the index gaining 9.71% total return in &hellip;<\/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-7616","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7616","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=7616"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7616\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}