{"id":7883,"date":"2009-09-14T20:21:31","date_gmt":"2009-09-15T00:21:31","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=7883"},"modified":"2009-09-14T20:21:31","modified_gmt":"2009-09-15T00:21:31","slug":"september-14-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=7883","title":{"rendered":"September 14, 2009"},"content":{"rendered":"

The preferred share market continued to ease off in an orderly fashion today, with PerpetualDiscounts down 17bp and FixedResets losing 9bp. All the volume action was in FixedResets but unfortunately I cannot provide any details of the blocks since the Financial Post is reporting last Thursday’s news<\/a> (as of 8:24pm, anyway).<\/p>\n

The DC FixedReset 6.75%+410<\/a> new issue closes tomorrow – it will be most interesting to see what happens to the price.<\/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-0.2369 %<\/td>\n1,455.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n5.75 %<\/td>\n4.01 %<\/td>\n57,041<\/td>\n18.57<\/td>\n1<\/td>\n0.0000 %<\/td>\n2,669.0<\/td>\n<\/tr>\n
Floater<\/td>\n2.52 %<\/td>\n2.10 %<\/td>\n31,066<\/td>\n22.18<\/td>\n4<\/td>\n-0.2369 %<\/td>\n1,818.8<\/td>\n<\/tr>\n
OpRet<\/td>\n4.87 %<\/td>\n-12.14 %<\/td>\n135,910<\/td>\n0.09<\/td>\n15<\/td>\n-0.0026 %<\/td>\n2,284.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n6.40 %<\/td>\n6.47 %<\/td>\n999,214<\/td>\n4.05<\/td>\n2<\/td>\n1.1389 %<\/td>\n2,065.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0026 %<\/td>\n2,089.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.77 %<\/td>\n5.51 %<\/td>\n149,002<\/td>\n2.56<\/td>\n12<\/td>\n0.0396 %<\/td>\n1,879.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.72 %<\/td>\n5.76 %<\/td>\n197,689<\/td>\n14.21<\/td>\n59<\/td>\n-0.1725 %<\/td>\n1,796.8<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.49 %<\/td>\n4.04 %<\/td>\n463,933<\/td>\n4.08<\/td>\n40<\/td>\n-0.0913 %<\/td>\n2,108.5<\/td>\n<\/tr>\n<\/table>\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
ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\n-2.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
ELF.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 20.92
\nEvaluated at bid price : 20.92
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n
W.PR.J<\/td>\nPerpetual-Discount<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 23.49
\nEvaluated at bid price : 23.76
\nBid-YTW : 5.99 %<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetual-Discount<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 20.32
\nEvaluated at bid price : 20.32
\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetual-Discount<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 19.68
\nEvaluated at bid price : 19.68
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
RY.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 20.52
\nEvaluated at bid price : 20.52
\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 22.91
\nEvaluated at bid price : 23.99
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n
NA.PR.K<\/td>\nPerpetual-Premium<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2012-06-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.15
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
TCA.PR.Y<\/td>\nPerpetual-Discount<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 46.11
\nEvaluated at bid price : 49.20
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
BNA.PR.D<\/td>\nSplitShare<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2014-07-09
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.89
\nBid-YTW : 6.47 %<\/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
CIU.PR.B<\/td>\nFixedReset<\/td>\n205,500<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.91
\nBid-YTW : 4.12 %<\/td>\n<\/tr>\n
TRI.PR.B<\/td>\nFloater<\/td>\n67,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-09-14
\nMaturity Price : 18.70
\nEvaluated at bid price : 18.70
\nBid-YTW : 2.10 %<\/td>\n<\/tr>\n
RY.PR.N<\/td>\nFixedReset<\/td>\n42,890<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.72
\nBid-YTW : 3.73 %<\/td>\n<\/tr>\n
MFC.PR.E<\/td>\nFixedReset<\/td>\n34,620<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-10-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.57
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
RY.PR.Y<\/td>\nFixedReset<\/td>\n32,200<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-12-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.61
\nBid-YTW : 4.01 %<\/td>\n<\/tr>\n
BNS.PR.T<\/td>\nFixedReset<\/td>\n31,200<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.81
\nBid-YTW : 3.84 %<\/td>\n<\/tr>\n
There were 42 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The preferred share market continued to ease off in an orderly fashion today, with PerpetualDiscounts down 17bp and FixedResets losing 9bp. All the volume action was in FixedResets but unfortunately I cannot provide any details …<\/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-7883","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7883","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=7883"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/7883\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}