{"id":7863,"date":"2009-09-11T19:45:07","date_gmt":"2009-09-11T23:45:07","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=7863"},"modified":"2009-09-11T19:45:07","modified_gmt":"2009-09-11T23:45:07","slug":"september-11-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=7863","title":{"rendered":"September 11, 2009"},"content":{"rendered":"

Esquire<\/i> has an entertaining and illuminating feature article titled The Deal of the Century<\/a>, regarding last fall’s Barclays\/Lehman deal.<\/p>\n

PerpetualDiscounts underperformed today, losing 22bp against the gain of 7bp by FixedResets. This means that the former class is down 69bp on the month-to-date, while the latter is up 30bp, a reversal of fortunes from recent months! Volume picked up today and is relatively heavy<\/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>\n0.9952 %<\/td>\n1,459.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n5.75 %<\/td>\n4.01 %<\/td>\n57,606<\/td>\n18.58<\/td>\n1<\/td>\n-0.4739 %<\/td>\n2,669.0<\/td>\n<\/tr>\n
Floater<\/td>\n2.51 %<\/td>\n2.10 %<\/td>\n28,681<\/td>\n22.16<\/td>\n4<\/td>\n0.9952 %<\/td>\n1,823.1<\/td>\n<\/tr>\n
OpRet<\/td>\n4.87 %<\/td>\n-11.46 %<\/td>\n138,012<\/td>\n0.09<\/td>\n15<\/td>\n0.3278 %<\/td>\n2,284.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n6.48 %<\/td>\n6.79 %<\/td>\n1,036,592<\/td>\n4.05<\/td>\n2<\/td>\n-0.9511 %<\/td>\n2,042.1<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3278 %<\/td>\n2,089.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.77 %<\/td>\n5.56 %<\/td>\n149,492<\/td>\n2.86<\/td>\n12<\/td>\n-0.0396 %<\/td>\n1,878.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.71 %<\/td>\n5.77 %<\/td>\n199,189<\/td>\n14.23<\/td>\n59<\/td>\n-0.2164 %<\/td>\n1,799.9<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.49 %<\/td>\n3.99 %<\/td>\n469,921<\/td>\n4.14<\/td>\n40<\/td>\n0.0736 %<\/td>\n2,110.4<\/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
RY.PR.W<\/td>\nPerpetual-Discount<\/td>\n-1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-11
\nMaturity Price : 22.49
\nEvaluated at bid price : 22.66
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
TCA.PR.Y<\/td>\nPerpetual-Discount<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-11
\nMaturity Price : 45.90
\nEvaluated at bid price : 48.67
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
BNA.PR.D<\/td>\nSplitShare<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2014-07-09
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.55
\nBid-YTW : 6.79 %<\/td>\n<\/tr>\n
TD.PR.O<\/td>\nPerpetual-Discount<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-11
\nMaturity Price : 22.23
\nEvaluated at bid price : 22.37
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
RY.PR.C<\/td>\nPerpetual-Discount<\/td>\n-1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-11
\nMaturity Price : 20.72
\nEvaluated at bid price : 20.72
\nBid-YTW : 5.61 %<\/td>\n<\/tr>\n
TRI.PR.B<\/td>\nFloater<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-11
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 2.09 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nPerpetual-Discount<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-11
\nMaturity Price : 19.80
\nEvaluated at bid price : 19.80
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
BAM.PR.J<\/td>\nOpRet<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2018-03-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.21
\nBid-YTW : 5.27 %<\/td>\n<\/tr>\n
BAM.PR.P<\/td>\nFixedReset<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-10-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.59
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-11
\nMaturity Price : 18.85
\nEvaluated at bid price : 18.85
\nBid-YTW : 2.10 %<\/td>\n<\/tr>\n
BAM.PR.O<\/td>\nOpRet<\/td>\n1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2013-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.18
\nBid-YTW : 4.75 %<\/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
RY.PR.H<\/td>\nPerpetual-Premium<\/td>\n145,530<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-23
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.27
\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n
RY.PR.R<\/td>\nFixedReset<\/td>\n66,060<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.73
\nBid-YTW : 3.71 %<\/td>\n<\/tr>\n
TD.PR.O<\/td>\nPerpetual-Discount<\/td>\n54,328<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-11
\nMaturity Price : 22.23
\nEvaluated at bid price : 22.37
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
BNS.PR.T<\/td>\nFixedReset<\/td>\n53,637<\/td>\nDesjardins bought 10,900 from Nesbitt at 27.95.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.88
\nBid-YTW : 3.77 %<\/td>\n<\/tr>\n
CM.PR.L<\/td>\nFixedReset<\/td>\n50,986<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.82
\nBid-YTW : 4.07 %<\/td>\n<\/tr>\n
RY.PR.P<\/td>\nFixedReset<\/td>\n50,465<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.73
\nBid-YTW : 3.71 %<\/td>\n<\/tr>\n
There were 49 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Esquire has an entertaining and illuminating feature article titled The Deal of the Century, regarding last fall’s Barclays\/Lehman deal. PerpetualDiscounts underperformed today, losing 22bp against the gain of 7bp by FixedResets. This means that the …<\/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-7863","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7863","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=7863"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7863\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}