{"id":8070,"date":"2009-09-29T19:29:43","date_gmt":"2009-09-29T23:29:43","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=8070"},"modified":"2009-09-29T19:29:43","modified_gmt":"2009-09-29T23:29:43","slug":"september-29-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=8070","title":{"rendered":"September 29, 2009"},"content":{"rendered":"<p>The Ontario Securities Commission has released the <a href=\"http:\/\/www.osc.gov.on.ca\/documents\/en\/Securities-Category3\/sn_20090925_33-732_2009-compliance-rpt.pdf\">2009 Compliance Team Annual Report<\/a>.<\/p>\n<p>Lots of volume, with 61 issues in the HIMIPref&trade; indices trading over 10,000 shares, but not much price action today, with PerpetualDiscounts down 5bp and FixedResets losing 7bp. A bit more volatility than yesterday, with ten issues showing in the Performance Highlights table.<\/p>\n<p>The big news tomorrow will be settlement of the <a href=\"http:\/\/www.prefblog.com\/?p=7971\">TRP monster issue<\/a> &#8211; I will be most interested to see how many shares trade. I make the over\/under line to be a million shares &#8230; place yer bets in the comments!<\/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>-0.1846 %<\/td>\n<td>1,510.4<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>5.77 %<\/td>\n<td>4.02 %<\/td>\n<td>51,550<\/td>\n<td>18.57<\/td>\n<td>1<\/td>\n<td>-0.8421 %<\/td>\n<td>2,660.5<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>2.43 %<\/td>\n<td>2.07 %<\/td>\n<td>37,053<\/td>\n<td>22.27<\/td>\n<td>4<\/td>\n<td>-0.1846 %<\/td>\n<td>1,886.9<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>4.87 %<\/td>\n<td>-5.46 %<\/td>\n<td>132,191<\/td>\n<td>0.09<\/td>\n<td>15<\/td>\n<td>-0.1941 %<\/td>\n<td>2,285.3<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>6.38 %<\/td>\n<td>6.58 %<\/td>\n<td>821,802<\/td>\n<td>4.01<\/td>\n<td>2<\/td>\n<td>0.0000 %<\/td>\n<td>2,073.1<\/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>-0.1941 %<\/td>\n<td>2,089.7<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.78 %<\/td>\n<td>5.69 %<\/td>\n<td>149,616<\/td>\n<td>2.51<\/td>\n<td>12<\/td>\n<td>0.0662 %<\/td>\n<td>1,873.7<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.76 %<\/td>\n<td>5.80 %<\/td>\n<td>205,075<\/td>\n<td>14.23<\/td>\n<td>59<\/td>\n<td>-0.0477 %<\/td>\n<td>1,793.1<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>5.49 %<\/td>\n<td>4.09 %<\/td>\n<td>451,456<\/td>\n<td>4.09<\/td>\n<td>40<\/td>\n<td>-0.0655 %<\/td>\n<td>2,110.3<\/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>ELF.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-2.25 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 20.42<br \/>\nEvaluated at bid price : 20.42<br \/>\nBid-YTW : 6.64 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.M<\/td>\n<td>FixedReset<\/td>\n<td>-1.99 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 25.56<br \/>\nEvaluated at bid price : 25.61<br \/>\nBid-YTW : 4.26 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.65 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 22.17<br \/>\nEvaluated at bid price : 22.62<br \/>\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.J<\/td>\n<td>OpRet<\/td>\n<td>-1.58 %<\/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 : 25.50<br \/>\nBid-YTW : 5.14 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.I<\/td>\n<td>OpRet<\/td>\n<td>-1.53 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2010-07-30<br \/>\nMaturity Price  : 25.50<br \/>\nEvaluated at bid price : 25.70<br \/>\nBid-YTW : 4.45 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.K<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.49 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 22.94<br \/>\nEvaluated at bid price : 23.10<br \/>\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 20.78<br \/>\nEvaluated at bid price : 20.78<br \/>\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.K<\/td>\n<td>Perpetual-Premium<\/td>\n<td>1.04 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2012-06-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.33<br \/>\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.E<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 23.76<br \/>\nEvaluated at bid price : 24.05<br \/>\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n<tr>\n<td>HSB.PR.C<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.28 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 22.02<br \/>\nEvaluated at bid price : 22.15<br \/>\nBid-YTW : 5.79 %<\/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>BMO.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>57,587<\/td>\n<td>RBC crossed 27,500 at 27.95.<br \/>\nYTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-03-27<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 27.93<br \/>\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.J<\/td>\n<td>Perpetual-Discount<\/td>\n<td>49,757<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 20.90<br \/>\nEvaluated at bid price : 20.90<br \/>\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.I<\/td>\n<td>FixedReset<\/td>\n<td>38,230<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2014-03-26<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.00<br \/>\nBid-YTW : 4.16 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.M<\/td>\n<td>FixedReset<\/td>\n<td>37,796<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 25.56<br \/>\nEvaluated at bid price : 25.61<br \/>\nBid-YTW : 4.26 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.I<\/td>\n<td>Perpetual-Discount<\/td>\n<td>33,660<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 20.30<br \/>\nEvaluated at bid price : 20.30<br \/>\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.O<\/td>\n<td>Perpetual-Discount<\/td>\n<td>33,094<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-09-29<br \/>\nMaturity Price  : 22.17<br \/>\nEvaluated at bid price : 22.31<br \/>\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 61 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The Ontario Securities Commission has released the 2009 Compliance Team Annual Report. Lots of volume, with 61 issues in the HIMIPref&trade; indices trading over 10,000 shares, but not much price action today, with PerpetualDiscounts down &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-8070","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/8070","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=8070"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/8070\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}