{"id":865,"date":"2007-05-23T00:04:27","date_gmt":"2007-05-23T04:04:27","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=865"},"modified":"2007-05-23T00:04:27","modified_gmt":"2007-05-23T04:04:27","slug":"may-22-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=865","title":{"rendered":"May 22, 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>\n5.07%<\/td>\n5.15%<\/td>\n42,037<\/td>\n15.40<\/td>\n2<\/td>\n+0.0456%<\/td>\n963.2<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.63%<\/td>\n5.11%<\/td>\n140,602<\/td>\n15.47<\/td>\n6<\/td>\n+0.2481%<\/td>\n920.1<\/td>\n<\/tr>\n
Floater<\/td>\n4.80%<\/td>\n-2.67%<\/td>\n77,111<\/td>\n11.13<\/td>\n3<\/td>\n+0.3221%<\/td>\n1,046.8<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.75%<\/td>\n3.42%<\/td>\n84,600<\/td>\n2.32<\/td>\n17<\/td>\n+0.0529%<\/td>\n1,030.9<\/td>\n<\/tr>\n
Split-Share<\/td>\n4.97%<\/td>\n4.17%<\/td>\n227,988<\/td>\n3.97<\/td>\n12<\/td>\n+0.1112%<\/td>\n1,051.5<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.53%<\/td>\n6.36%<\/td>\n69,460<\/td>\n3.20<\/td>\n5<\/td>\n-0.2342%<\/td>\n1,044.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.17%<\/td>\n4.67%<\/td>\n175,724<\/td>\n6.63<\/td>\n48<\/td>\n-0.1523%<\/td>\n1,044.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.68%<\/td>\n4.70%<\/td>\n704,485<\/td>\n16.03<\/td>\n19<\/td>\n-0.4296%<\/td>\n1,041.7<\/td>\n<\/tr>\n<\/table>\n<\/div>\n\n\n\n\n\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
TCA.PR.X<\/td>\nPerpetualPremium<\/td>\n-1.4240%<\/td>\nDipped as low as 52.30 on (relatively!) heavy volume of 9,468 shares before closing at 52.61-95, 8×7. Now with a pre-tax bid-YTW of 4.75% based on a bid of 52.61 and a call 2013-11-14 at 50.00.<\/td>\n<\/tr>\n
BSD.PR.A<\/td>\nInterest<\/td>\n-1.1823%<\/td>\nNow with a pre-tax bid-YTW of 6.18% (as interest) based on a bid of 10.03 and a hardMaturity<\/a> 2015-3-31 at 10.00.<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nPerpetualDiscount<\/td>\n-1.1290%<\/td>\nNow with a pre-tax bid-YTW of 4.62% based on a bid of 24.52 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetualPremium<\/td>\n-1.0933%<\/td>\nNow with a pre-tax bid-YTW of 4.82% based on a bid of 25.33 and a call 2014-11-30 at 25.00<\/td>\n<\/tr>\n
CM.PR.J<\/td>\nPerpetualDiscount<\/td>\n-1.0267%<\/td>\nNow with a pre-tax bid-YTW of 4.70% based on a bid of 24.10 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nPerpetualDiscount<\/td>\n-1.0204%<\/td>\nNow with a pre-tax bid-YTW of 4.65% based on a bid of 24.25 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.J<\/td>\nOpRet<\/td>\n-1.0129%<\/td>\nNow with a pre-tax bid-YTW of 4.47% based on a bid of 25.41 and a softMaturity<\/a> 2013-7-30 at 25.00.<\/td>\n<\/tr>\n
BNA.PR.C<\/td>\nSplitShare<\/td>\n+1.0246%<\/td>\nA dead cat bounce<\/a> after the downgrade<\/a>. Now with a pre-tax bid-YTW of 4.51% based on a bid of 24.65 and a hardMaturity 2019-1-10 at 25.00<\/td>\n<\/tr>\n
WN.PR.D<\/td>\nPerpetualDiscount (for now! Will move to ‘Scraps’ based on credit quality at month-end)<\/td>\n+1.0505%<\/td>\nAnother dead count bounce. Downgraded today by DBRS<\/a>, May 3 by S&P<\/a>. Now with a pre-tax bid-YTW of 5.27% based on a bid of 25.01 and a limitMaturity<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nOpRet<\/td>\n+1.1214%<\/td>\nNow with a pre-tax bid-YTW of 3.59% based on a bid of 26.15 and a call 2008-5-30 at 25.75. Somebody’s decided it won’t be called … yield will be 4.25% if it lasts ’till its softMaturity 2013-4-29 at 25.00<\/td>\n<\/tr>\n
BCE.PR.G<\/td>\nFixFloat<\/td>\n-2.3333%<\/td>\nExchange\/Reset Date is 2011-5-1 (Exchanges with BCE.PR.H); until then, pays 4.35% of par. Recovered from yesterday’s<\/a> immense spread to close at 20.90-44, 1×5. The Hs closed at 23.01-49, 19×19.<\/td>\n<\/tr>\n<\/table>\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
WN.PR.B<\/td>\nOpRet (will be ‘scraps’ after month-end, based on credit quality)<\/td>\n83,502<\/td>\nDesjardins crossed 25,300 at 26.04, then another 49,700 at the same price. Downgraded today by DBRS<\/a>. Now with a pre-tax bid-YTW of 3.52% based on a bid of 26.01 and a softMaturity 2009-6-30 at 25.00.<\/td>\n<\/tr>\n
TD.PR.O<\/td>\nPerpetualPremium<\/td>\n61,257<\/td>\nScotia crossed 50,000 at 26.00. Now with a pre-tax bid-YTW of 4.36% based on a bid of 25.90 and a call 2014-11-30 at 25.00.<\/td>\n<\/tr>\n
BAM.PR.H<\/td>\nOpRet<\/td>\n51,381<\/td>\nScotia crossed 50,000 at 27.09. Now with a pre-tax bid-YTW of 2.54% based on a bid of 27.06 and a call 2008-10-30 at 25.75. Buyers obviously anticipate a softMaturity 2012-3-30 at 25.00, yielding 4.08%!<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nPerpetualPremium<\/td>\n51,380<\/td>\nNow with a pre-tax bid-YTW of 4.73% based on a bid of 25.00 and a limitMaturity.<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetualDiscount<\/td>\n39,500<\/td>\nNow with a pre-tax bid-YTW of 4.60% based on a bid of 24.52 and a call 2016-3-26 at 24.52.<\/td>\n<\/tr>\n<\/table>\n

There were twenty other $25-equivalent index-included issues trading over 10,000 shares today.<\/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-865","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/865","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=865"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/865\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}