{"id":877,"date":"2007-05-30T00:34:22","date_gmt":"2007-05-30T04:34:22","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=877"},"modified":"2007-05-30T00:34:22","modified_gmt":"2007-05-30T04:34:22","slug":"may-29-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=877","title":{"rendered":"May 29, 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>\n5.23%<\/td>\n5.29%<\/td>\n38,271<\/td>\n15.20<\/td>\n2<\/td>\n+0.3434%<\/td>\n963.8<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.72%<\/td>\n5.40%<\/td>\n153,589<\/td>\n15.12<\/td>\n6<\/td>\n-0.1473%<\/td>\n905.7<\/td>\n<\/tr>\n
Floater<\/td>\n4.80%<\/td>\n-0.03%<\/td>\n80,956<\/td>\n5.62<\/td>\n3<\/td>\n+0.2412%<\/td>\n1,046.7<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.77%<\/td>\n3.65%<\/td>\n85,023<\/td>\n2.94<\/td>\n17<\/td>\n+0.0498%<\/td>\n1,028.1<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.00%<\/td>\n4.36%<\/td>\n220,392<\/td>\n3.95<\/td>\n13<\/td>\n-0.1239%<\/td>\n1,046.1<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.55%<\/td>\n6.45%<\/td>\n70,572<\/td>\n5.33<\/td>\n5<\/td>\n+0.0006%<\/td>\n1,042.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.22%<\/td>\n4.83%<\/td>\n189,803<\/td>\n8.04<\/td>\n48<\/td>\n-0.3053%<\/td>\n1,033.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.87%<\/td>\n4.87%<\/td>\n649,224<\/td>\n15.73<\/td>\n19<\/td>\n-0.7814%<\/td>\n1,009.0<\/td>\n<\/tr>\n<\/table>\n<\/div>\n\n\n\n\n\n\n\n\n\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
RY.PR.A<\/td>\nPerpetualDiscount<\/td>\n-2.7473%<\/td>\nNew 52-week low of 23.10 today … and the closing bid was below this figure! Now with a pre-tax bid-YTW of 4.86% based on a bid of 23.01 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nPerpetualDiscount<\/td>\n-2.0903%<\/td>\nNew 52-week low of 23.27 today. Now with a pre-tax bid-YTW of 4.87% based on a bid of 23.42 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.I<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.8182%<\/td>\nNew 52-week low of 24.03 today. Now with a pre-tax bid-YTW of 4.88% based on a bid of 24.30 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.7822%<\/td>\nNow with a pre-tax bid-YTW of 4.88% based on a bid of 24.80 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.6000%<\/td>\nNow with a pre-tax bid-YTW of 4.87% based on a bid of 24.60 and a limitMaturity.<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.5152%<\/td>\nNew 52-week low of 23.30 today. Now with a pre-tax bid-YTW of 4.83% based on a bid of 23.40 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.L<\/td>\nPerpetualDiscount<\/td>\n-1.5000%<\/td>\nNew 52-week low of 23.65 today. Now with a pre-tax bid-YTW of 4.80% based on a bid of 23.64 and a limitMaturity.<\/td>\n<\/tr>\n
CU.PR.B<\/td>\nPerpetualPremium<\/td>\n-1.4857%<\/td>\nNew 52-week low of 25.85 today. Now with a pre-tax bid-YTW of 5.25% based on a bid of 25.86 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.G<\/td>\nPerpetualDiscount<\/td>\n-1.4831%<\/td>\nNew 52-week low of 23.15 today. Now with a pre-tax bid-YTW of 4.89% based on a bid of 23.25 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nPerpetualDiscount<\/td>\n-1.4831%<\/td>\nNew 52-week low of 23.25 today. Now with a pre-tax bid-YTW of 4.86% based on a bid of 23.25 and a limitMaturity.<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetualDiscount<\/td>\n-1.4553%<\/td>\nNow with a pre-tax bid-YTW of 5.08% based on a bid of 23.70 and a limitMaturity.<\/td>\n<\/tr>\n
WN.PR.A<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.3708%<\/td>\nNew low of 24.64 today. Now with a pre-tax bid-YTW of 5.89% based on a bid of 24.64 and a limitMaturity. A recent downgrade<\/a>.<\/td>\n<\/tr>\n
RY.PR.D<\/td>\nPerpetualDiscount<\/td>\n-1.1083%<\/td>\nNew low of 22.55 today. Now with a pre-tax bid-YTW of 4.87% based on a bid of 23.20 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.0727%<\/td>\nNow with a pre-tax bid-YTW of 5.01% based on a bid of 24.90 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nPerpetualDiscount<\/td>\n-1.0372%<\/td>\nNew 52-week low of 22.90 today. Now with a pre-tax bid-YTW of 4.85% based on a bid of 22.90 and a limitMaturity.<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nPerpetualPremium<\/td>\n+1.1182%<\/td>\nNow with a pre-tax bid-YTW of 4.62% based on a bid of 25.30 and a limitMaturity.<\/td>\n<\/tr>\n
BCE.PR.S<\/td>\nRatchet<\/td>\n+1.3167%<\/td>\nExchange\/Reset date is 2011-11-1 (exchanges with BCE.PR.T, which pays 4.502% of par until then). Closed at 22.90-38, 2×5, on zero volume. The Ts closed at 21.55-05, 10×1, on zero volume.<\/td>\n<\/tr>\n
IGM.PR.A<\/td>\nOpRet<\/td>\n+1.3650%<\/td>\nMaking up for yesterday’s<\/a> losses. Now with a pre-tax bid-YTW of 3.34% based on a bid of 27.07 and a call 2009-7-30 at 26.00.<\/td>\n<\/tr>\n
BCE.PR.R<\/td>\nFixFloat<\/td>\n+1.4735%<\/td>\nPartial recovery from yesterday’s losses, but there was a new 52-week low of 20.05 anyway. Exchange\/Reset date is 2010-12-1 (exchanges with series ‘Q’, not issued); until then, pays 4.54% of par. Closed at 20.66-15, 1×1.<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nPerpetualDiscount<\/td>\n+2.8112%<\/td>\nRoaring back from yesterday’s losses, but set a new 52-week low of 24.00 anyway. Closed at 24.49-63, 20×5, so I bet the low seller feels silly. Now with a pre-tax bid-YTW of 4.68% based on a bid of 24.49 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
BBD.PR.D<\/td>\nScraps (would be FixFloat, but there are credit concerns)<\/td>\n187,480<\/td>\nNesbitt crossed 15,000 at 18.95. Exchange\/Reset date is 2007-8-1 – see the pairs analysis<\/a>. The Ds closed at 18.90-95, 60×15; the Bs closed at 19.45-60.<\/td>\n<\/tr>\n
TD.PR.O<\/td>\nPerpetualPremium<\/td>\n120,940<\/td>\nNow with a pre-tax bid-YTW of 4.69% based on a bid of 25.39 and a call 2014-11-30 at 25.00.<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetualPremium (for now!)<\/td>\n84,265<\/td>\nNow with a pre-tax bid-YTW of 4.87% based on a bid of 24.60 and a limitMaturity.<\/td>\n<\/tr>\n
CM.PR.H<\/td>\nPerpetualPremium (for now!)<\/td>\n72,899<\/td>\nNow with a pre-tax bid-YTW of 4.88% based on a bid of 24.80 and a limitMaturity.<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nPerpetualPremium<\/td>\n68,898<\/td>\nNow with a pre-tax bid-YTW of 4.62% based on a bid of 25.30 and a call 2014-10-30 at 25.00. There is some uncertainty<\/a> as to what GWO will be doing in the capital markets in the near future.<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetualPremium (for now!)<\/td>\n38,050<\/td>\nNow with a pre-tax bid-YTW of 4.83% based on a bid of 23.40 and a limitMaturity.<\/td>\n<\/tr>\n<\/table>\n

There were thirty-four other $25-equivalent index-included issues trading over 10,000 shares today.<\/p>\n

The prospectus for the Co-operators new issue<\/a> is now on SEDAR<\/a> and the issue has been added to the HIMIPref\u2122 universe on a preIssue<\/a> basis. It doesn’t look pretty!\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-877","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/877","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=877"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/877\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}