{"id":796,"date":"2007-04-25T22:32:27","date_gmt":"2007-04-26T02:32:27","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=796"},"modified":"2007-04-25T22:32:27","modified_gmt":"2007-04-26T02:32:27","slug":"april-25-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=796","title":{"rendered":"April 25, 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>\n4.38%<\/td>\n4.39%<\/td>\n40,923<\/td>\n16.62<\/td>\n2<\/td>\n-1.7378%<\/td>\n993.3<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.48%<\/td>\n4.52%<\/td>\n113,399<\/td>\n16.34<\/td>\n6<\/td>\n-0.1914%<\/td>\n934.1<\/td>\n<\/tr>\n
Floater<\/td>\n4.56%<\/td>\n-18.20%<\/td>\n57,269<\/td>\n0.13<\/td>\n4<\/td>\n+0.0294%<\/td>\n1,061.5<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.73%<\/td>\n3.20%<\/td>\n84,971<\/td>\n2.19<\/td>\n17<\/td>\n-0.0594%<\/td>\n1,033.6<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.03%<\/td>\n4.31%<\/td>\n185,491<\/td>\n4.02<\/td>\n12<\/td>\n-0.1573%<\/td>\n1,044.7<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.49%<\/td>\n4.33%<\/td>\n61,954<\/td>\n1.92<\/td>\n5<\/td>\n+0.2139%<\/td>\n1,049.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.06%<\/td>\n4.48%<\/td>\n224,795<\/td>\n6.32<\/td>\n54<\/td>\n-0.0600%<\/td>\n1,054.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.56%<\/td>\n4.58%<\/td>\n781,328<\/td>\n16.25<\/td>\n11<\/td>\n-0.0581%<\/td>\n1,060.0<\/td>\n<\/tr>\n<\/table>\n<\/div>\n\n\n\n\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.T<\/td>\nScraps (would be FixedFloater, but there are volume concerns)<\/td>\n-5.8065%<\/td>\nExchange\/Reset date is 2011-11-1 (exchanges with BCE.PR.S); until then pays 4.502% of par.<\/td>\n<\/tr>\n
BCE.PR.H<\/td>\nRatchet<\/td>\n-2.0417%<\/td>\nExchange\/Reset date is 2011-05-01 (exchange with BCE.PR.G).<\/td>\n<\/tr>\n
BCE.PR.S<\/td>\nRatchet<\/td>\n-1.4397%<\/td>\nExchange\/Reset date is 2011-11-1 (exchange with BCE.PR.T).<\/td>\n<\/tr>\n
BCE.PR.I<\/td>\nFixedFloater<\/td>\n-1.3636%<\/td>\nExchange\/Reset date is 2011-08-01 (exchange with series ‘AJ’, not currently issued). Until then, pay 4.65% of par.<\/td>\n<\/tr>\n
FTN.PR.A<\/td>\nSplitShare<\/td>\n-1.0628%<\/td>\nMore fallout from the denial of term extension<\/a>? Now with a pre-tax bid-YTW of 3.86% based on a bid of 10.24 and a hardMaturity<\/a>.<\/td>\n<\/tr>\n
BCE.PR.R<\/td>\nFixedFloater<\/td>\n+1.3236%<\/td>\nEven a dead-cat will bounce if it falls far enough! There hasn’t been a good performance from a BCE issue since they went on credit watch negative<\/a>, but I think it’s too early to start looking for a recovery in these things. Exchange\/Reset date is 2010-12-1 (with BCE.PR.S); until then they pay 4.540% of par<\/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>\nVolume<\/td>\nNotes<\/td>\n<\/tr>\n
PWF.PR.I<\/td>\nPerpetualPremium<\/td>\n205,465<\/td>\nTD crossed 203,800 at 26.25. Leftovers from yesterday<\/a>! Now with a pre-tax bid-YTW of 4.92% based on a bid of 26.20 and a call 2010-5-30 at 25.50.<\/td>\n<\/tr>\n
BPO.PR.H<\/td>\nScraps (would be OpRet, but there are credit concerns)<\/td>\n168,102<\/td>\nScotia crossed 163,700 at 27.35. Now with a pre-tax bid-YTW of 4.51% based on a bid of 27.26 and a call 2012-1-30 at 26.00<\/td>\n<\/tr>\n
BAM.PR.I<\/td>\nOpRet<\/td>\n158,150<\/td>\nScotia crossed 157,000 at 27.25. Now with a pre-tax bid-YTW of 3.23% based on a bid of 27.03 and a call 2009-7-30 at 25.75.<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualPremium<\/td>\n137,162<\/td>\nNow with a pre-tax bid-YTW of 4.33% based on a bid of 25.74 and a call 2014-4-29 at 25.00<\/td>\n<\/tr>\n
CCS.PR.A<\/td>\nSometimes considered a Floater, but not right now since the floor rate exceeds the calculated floating rate. Not considered PerpetualPremium, either, because of credit AND volume concerns. And they’re not very cooperative<\/a>, either!<\/td>\n101,970<\/td>\nScotia crossed 100,000 at 25.20. Now with a pre-tax bid-YTW of 5.52% based on a bid of 25.10 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nOpRet<\/td>\n92,800<\/td>\nScotia crossed 91,400 at 26.30 for delayed delivery<\/a>. Next ex-date is estimated as 6\/26, so it’s probably not a dividend capture game. Now with a pre-tax bid-YTW of 3.34% based on a bid of 26.15 and a call 2008-5-30 at 25.75<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nPerpetualDiscount<\/td>\n68,960<\/td>\nNow with a pre-tax bid-YTW of 4.57% based on a bid of 24.50 and a limitMaturity<\/td>\n<\/tr>\n<\/table>\n

There were twenty-six other $25-equivalent index-included issues trading over 10,000 shares 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-796","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/796","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=796"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/796\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}