{"id":828,"date":"2007-05-04T23:48:39","date_gmt":"2007-05-05T03:48:39","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=828"},"modified":"2007-05-04T23:48:39","modified_gmt":"2007-05-05T03:48:39","slug":"may-4-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=828","title":{"rendered":"May 4, 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>\n4.58%<\/td>\n4.59%<\/td>\n43,333<\/td>\n16.28<\/td>\n2<\/td>\n-0.3161%<\/td>\n990.0<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.33%<\/td>\n4.48%<\/td>\n135,556<\/td>\n16.51<\/td>\n6<\/td>\n+0.1191%<\/td>\n970.0<\/td>\n<\/tr>\n
Floater<\/td>\n4.72%<\/td>\n-20.46%<\/td>\n73,173<\/td>\n10.96<\/td>\n3<\/td>\n+0.0395%<\/td>\n1,064.3<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.73%<\/td>\n3.16%<\/td>\n85,916<\/td>\n2.32<\/td>\n17<\/td>\n+0.0848%<\/td>\n1,034.0<\/td>\n<\/tr>\n
Split-Share<\/td>\n4.96%<\/td>\n4.16%<\/td>\n175,793<\/td>\n3.89<\/td>\n12<\/td>\n+0.0203%<\/td>\n1,046.5<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.49%<\/td>\n4.87%<\/td>\n61,987<\/td>\n2.24<\/td>\n5<\/td>\n+0.0788%<\/td>\n1,049.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.13%<\/td>\n4.53%<\/td>\n170,664<\/td>\n5.25<\/td>\n48<\/td>\n+0.0360%<\/td>\n1,050.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.61%<\/td>\n4.63%<\/td>\n790,950<\/td>\n16.15<\/td>\n18<\/td>\n-0.0460%<\/td>\n1,053.8<\/td>\n<\/tr>\n<\/table>\n<\/div>\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.I<\/td>\nFixFloat<\/td>\n-1.3072%<\/td>\nExchange\/Reset date is 2011-8-1 (Exchanges with series ‘AJ’, not issued); until then pays 4.65% of par. Good volume today of 17,292 shares in a range of 22.90-00, so it seems a little unfair that it was down, closing at 22.65-00, 22×14.<\/td>\n<\/tr>\n
WN.PR.E<\/td>\nPerpetualDiscount<\/td>\n-1.0309%<\/td>\nDowngraded yesterday by S&P<\/a>. Now with a pre-tax bid-YTW of 4.99% based on a bid of 24.00 and a limitMaturity<\/a>. Still the lowest-yielding Weston Perpetual – see the comparables<\/a>.<\/td>\n<\/tr>\n
WN.PR.D<\/td>\nPerpetualPremium<\/td>\n+1.0121%<\/td>\nDowngraded yesterday by S&P … what, me worry? Now with a pre-tax bid-YTW of 5.26% based on a bid of 24.95 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\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
TOC.PR.B<\/td>\nScraps (would be Floater, but there are volume concerns)<\/td>\n530,500<\/td>\nPresumably due to the rumours of a bid for Reuters<\/a>. This young feller-me-lad pays 70% of Canadian Prime on par value, and closed today up a bit, at 25.30-54, 3×2. Callable any time at $25.00.<\/td>\n<\/tr>\n
FBS.PR.B<\/td>\nSplitShare<\/td>\n530,500<\/td>\nWhat’s a mature split-share doing with this kind of volume? Better ask Nesbitt, they crossed 500,000 at 10.13. Callable every December 15 at $10, until maturity at $10.00 2011-12-15 … the pre-tax bid-YTW is 2.78% based on a bid of 10.20 and a call 2008-1-14 (heh … the inclusion in the programming of maturityNoticePeriod<\/a> leads to imprecision on occasion. Oh, well, sue me …) at $10.00. The buyer is obviously hoping that the shares (or at least a significant fraction thereof) will survive until the hardMaturity<\/a> 2011-12-15, to have yielded 4.45%. And, mind you, the big buyer only paid 10.13 for them (plus commission!), so it’s not as bad as it looks.<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nPerpetualPremium<\/td>\n118,645<\/td>\nNow with a pre-tax bid-YTW of 4.53% based on a bid of 24.92 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualPremium<\/td>\n112,840<\/td>\nNow with a pre-tax bid-YTW of 4.37% based on a bid of 25.70 and a call 2014-4-29 at 25.00.<\/td>\n<\/tr>\n
RY.PR.G<\/td>\nPerpetualDiscount<\/td>\n110,700<\/td>\nRecent new issue<\/a>. Now with a pre-tax bid-YTW of 4.61% based on a bid of 24.51 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nPerpetualPremium<\/td>\n58,305<\/td>\nNow with a pre-tax bid-YTW of 4.44% based on a bid of 25.61 and a call 2014-4-30 at 25.00.<\/td>\n<\/tr>\n<\/table>\n

There were fifteen 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-828","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/828","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=828"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/828\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}