{"id":7772,"date":"2009-09-02T19:28:41","date_gmt":"2009-09-02T23:28:41","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=7772"},"modified":"2009-09-02T19:28:41","modified_gmt":"2009-09-02T23:28:41","slug":"september-2-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=7772","title":{"rendered":"September 2, 2009"},"content":{"rendered":"

The Boston Fed has prepared a foreclosure & house-price graphic for Massachussets<\/a>:<\/p>\n

This interactive graphic, showing changing patterns in foreclosure
\nrates and subprime mortgage originations across Massachusetts cities and towns since 1990 and their association with house-price changes, has been updated with 2008 data and enhanced with a new set of maps displaying the changing pattern of house-price changes from 1990 to 2008.<\/p><\/blockquote>\n

The slow pullback in the preferred share market continued, with PerpetualDiscounts losing 17bp and FixedResets down 7bp on the day. PerpetualDiscounts closed yielding 5.73%, equivalent to 8.02% interest at the standard equivalency factor of 1.4x. Long corporates<\/a> now yield about 5.9%, so the pre-tax interest-equivalent spread is now roughly 210bp, up 10bp from August 31<\/a>.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.4003 %<\/td>\n1,440.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n5.88 %<\/td>\n4.14 %<\/td>\n60,667<\/td>\n18.41<\/td>\n1<\/td>\n-2.6316 %<\/td>\n2,612.5<\/td>\n<\/tr>\n
Floater<\/td>\n2.53 %<\/td>\n2.15 %<\/td>\n32,514<\/td>\n22.07<\/td>\n4<\/td>\n-0.4003 %<\/td>\n1,800.0<\/td>\n<\/tr>\n
OpRet<\/td>\n4.86 %<\/td>\n-11.31 %<\/td>\n128,074<\/td>\n0.09<\/td>\n15<\/td>\n-0.1249 %<\/td>\n2,279.0<\/td>\n<\/tr>\n
SplitShare<\/td>\n6.44 %<\/td>\n6.60 %<\/td>\n1,204,317<\/td>\n4.08<\/td>\n2<\/td>\n-0.4204 %<\/td>\n2,052.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1249 %<\/td>\n2,084.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.76 %<\/td>\n5.43 %<\/td>\n153,077<\/td>\n2.59<\/td>\n12<\/td>\n-0.5180 %<\/td>\n1,880.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.69 %<\/td>\n5.73 %<\/td>\n192,819<\/td>\n14.33<\/td>\n59<\/td>\n-0.1668 %<\/td>\n1,806.1<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.50 %<\/td>\n4.06 %<\/td>\n476,566<\/td>\n4.10<\/td>\n40<\/td>\n-0.0748 %<\/td>\n2,103.6<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\n-2.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.50
\nBid-YTW : 4.14 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nPerpetual-Discount<\/td>\n-2.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 22.27
\nEvaluated at bid price : 22.42
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
ENB.PR.A<\/td>\nPerpetual-Premium<\/td>\n-2.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2009-10-02
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.06
\nBid-YTW : 2.77 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 19.32
\nEvaluated at bid price : 19.32
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
BAM.PR.I<\/td>\nOpRet<\/td>\n-1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2013-12-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.64
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetual-Discount<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetual-Discount<\/td>\n-1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 22.34
\nEvaluated at bid price : 22.50
\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nPerpetual-Premium<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-23
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.55
\nBid-YTW : 5.36 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 12.40
\nEvaluated at bid price : 12.40
\nBid-YTW : 3.21 %<\/td>\n<\/tr>\n
TD.PR.Q<\/td>\nPerpetual-Premium<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 24.81
\nEvaluated at bid price : 25.04
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
W.PR.J<\/td>\nPerpetual-Discount<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 23.86
\nEvaluated at bid price : 24.11
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
BNS.PR.P<\/td>\nFixedReset<\/td>\n105,025<\/td>\nRBC crossed 100,000 at 26.04.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.09
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n
BNS.PR.O<\/td>\nPerpetual-Premium<\/td>\n65,030<\/td>\nRBC crossed 62,000 at 25.20.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-05-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.15
\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n
MFC.PR.E<\/td>\nFixedReset<\/td>\n63,160<\/td>\nRBC crossed 50,000 at 26.50.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-10-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.50
\nBid-YTW : 4.27 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n58,050<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 18.28
\nEvaluated at bid price : 18.28
\nBid-YTW : 6.64 %<\/td>\n<\/tr>\n
RY.PR.Y<\/td>\nFixedReset<\/td>\n38,670<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-12-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.55
\nBid-YTW : 4.03 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n32,265<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-02
\nMaturity Price : 12.40
\nEvaluated at bid price : 12.40
\nBid-YTW : 3.21 %<\/td>\n<\/tr>\n
There were 34 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Boston Fed has prepared a foreclosure & house-price graphic for Massachussets: This interactive graphic, showing changing patterns in foreclosure rates and subprime mortgage originations across Massachusetts cities and towns since 1990 and their association …<\/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-7772","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7772","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=7772"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7772\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}