{"id":896,"date":"2007-06-06T00:22:02","date_gmt":"2007-06-06T04:22:02","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=896"},"modified":"2007-06-06T00:22:02","modified_gmt":"2007-06-06T04:22:02","slug":"june-5-2007","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=896","title":{"rendered":"June 5, 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>\n5.40%<\/td>\n5.48%<\/td>\n34,727<\/td>\n14.88<\/td>\n2<\/td>\n-0.6353%<\/td>\n956.6<\/td>\n<\/tr>\n
Fixed-Floater<\/td>\n5.60%<\/td>\n5.56%<\/td>\n139,254<\/td>\n14.91<\/td>\n7<\/td>\n+0.0681%<\/td>\n897.0<\/td>\n<\/tr>\n
Floater<\/td>\n4.78%<\/td>\n-3.63%<\/td>\n89,116<\/td>\n5.90<\/td>\n3<\/td>\n+0.4868%<\/td>\n1,051.3<\/td>\n<\/tr>\n
Op. Retract<\/td>\n4.80%<\/td>\n3.85%<\/td>\n83,681<\/td>\n3.33<\/td>\n17<\/td>\n-0.1059%<\/td>\n1,022.4<\/td>\n<\/tr>\n
Split-Share<\/td>\n5.03%<\/td>\n4.54%<\/td>\n185,482<\/td>\n4.04<\/td>\n15<\/td>\n+0.0397%<\/td>\n1,041.2<\/td>\n<\/tr>\n
Interest Bearing<\/td>\n6.62%<\/td>\n6.64%<\/td>\n87,317<\/td>\n6.12<\/td>\n4<\/td>\n-0.1790%<\/td>\n1,041.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.38%<\/td>\n5.05%<\/td>\n135,966<\/td>\n7.56<\/td>\n34<\/td>\n-0.2729%<\/td>\n1,023.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.98%<\/td>\n5.02%<\/td>\n567,277<\/td>\n15.47<\/td>\n29<\/td>\n-0.6702%<\/td>\n978.00<\/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
Major Price Changes<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
ELF.PR.G<\/td>\nPerpetualDiscount<\/td>\n-3.1042%<\/td>\nLeads the list (downwards) for the third straight day<\/a>. It seems rather odd … I don’t see any news, rating agency pronouncements or common-stock price-movement that would explain it. New low of 21.51 today. Now with a pre-tax bid-YTW of 5.52% (!) based on a bid of 21.85 and a limitMaturity<\/a>.<\/td>\n<\/tr>\n
ELF.PR.F<\/td>\nPerpetualPremium<\/td>\n-2.3846%<\/td>\nNew low of 25.06 today. Now with a pre-tax bid-YTW of 5.18% based on a bid of 25.38 and a call 2013-11-16 at 25.00.<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.9920%<\/td>\nNew low of 24.65 today. Now with a pre-tax bid-YTW of 5.24% based on a bid of 24.60 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nPerpetualDiscount<\/td>\n-1.8642%<\/td>\nNew low of 22.20 today. Now with a pre-tax bid-YTW of 5.04% based on a bid of 22.11 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nPerpetualDiscount<\/td>\n-1.6116%<\/td>\nNew low of 23.80 today. Now with a pre-tax bid-YTW of 4.98% based on a bid of 23.81 and a limitMaturity.<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetualDiscount<\/td>\n-1.5719%<\/td>\nNew low of 24.35 today. Now with a pre-tax bid-YTW of 5.19% based on a bid of 24.42 and a limitMaturity.<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetualDiscount<\/td>\n-1.5044%<\/td>\nNew low of 23.31 today. Now with a pre-tax bid-YTW of 5.31% based on a bid of 23.57 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nPerpetualDiscount<\/td>\n-1.4870%<\/td>\nNew low of 23.72 today. Now with a pre-tax bid-YTW of 5.03% based on a bid of 23.85 and a limitMaturity.<\/td>\n<\/tr>\n
BSD.PR.A<\/td>\nInterestBearing<\/td>\n-1.4184%<\/td>\nNow with a pre-tax bid-YTW of 6.47% (as interest) based on a bid of 9.73 and a hardMaturity<\/a> 2015-3-31 at 10.00.<\/td>\n<\/tr>\n
BMO.PR.J<\/td>\nPerpetualDiscount<\/td>\n-1.2931%<\/td>\nNew low of 22.78 today. Now with a pre-tax bid-YTW of 4.94% based on a bid of 22.90 and a limitMaturity.<\/td>\n<\/tr>\n
BNS.PR.M<\/td>\nPerpetualDiscount<\/td>\n-1.2446%<\/td>\nNew low of 22.91 today. Now with a pre-tax bid-YTW of 4.96% based on a bid of 23.01 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetualPremium (for now!)<\/td>\n-1.2420%<\/td>\nNew low of 24.50 today. Now with a pre-tax bid-YTW of 5.00% based on a bid of 24.65 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.C<\/td>\nPerpetualDiscount<\/td>\n-1.1050%<\/td>\nNew low of 23.26 today. Now with a pre-tax bid-YTW of 4.97% based on a bid of 23.27 and a limitMaturity.<\/td>\n<\/tr>\n
MFC.PR.A<\/td>\nOpRet<\/td>\n-1.0925%<\/td>\nNew low of 25.03 today. Now with a pre-tax bid-YTW of 3.90 based on a bid of 25.35 and a softMaturity<\/a> 2015-12-18 at 25.00.<\/td>\n<\/tr>\n
SBN.PR.A<\/td>\nSplitShare<\/td>\n-1.0567%<\/td>\nNew low of 10.30 today. Now with a pre-tax bid-YTW of 4.86% based on a bid of 10.30 and a hardMaturity 2014-12-01 at 10.00.<\/td>\n<\/tr>\n
BCE.PR.H<\/td>\nRatchet<\/td>\n-1.0004%<\/td>\nDid not trade today. Exchange\/Reset date is 2011-5-1 (exchanges with BCE.PR.G, which pays 4.35% of par until then). Closed at 22.76-00, 9×10; the Gs closed at 19.71-22, 5×5. Let’s see. Prime’s 6%. Assume the Hs pay 6% for the next four years and the Gs pay 4.35%. Difference = 1.65%. On $25.00 for 4 years, total amount of difference in dividends is $1.65. I guess the market is betting on a massive increase in prime, eh?<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixFloat<\/td>\n+1.0616%%<\/td>\nExchange\/Reset date is 2011-10-31 (Exchanges with BAM.PR.E); until then, pays 4.35% of par. The Gs closed at 23.80-90, 2×5; the Es closed at 24.95-05, 4×12.<\/td>\n<\/tr>\n
AL.PR.E<\/td>\nFloater<\/td>\n+1.5994%<\/td>\nStill on credit watch – developing<\/a>.<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nPerpetualDiscount<\/td>\n+1.6173%<\/td>\nCapital market plans still on hold<\/a>. Now with a pre-tax bid-YTW of 4.98% based on a bid of 22.62 and a limitMaturity.<\/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
RY.PR.G<\/td>\nPerpetualDiscount<\/td>\n619,500<\/td>\nRBC crossed 550,000 at 22.65, then another 62,000 at the same price. Now with a pre-tax bid-YTW of 5.02% based on a bid of 22.66 and a limitMaturity.<\/td>\n<\/tr>\n
RY.PR.D<\/td>\nPerpetualDiscount<\/td>\n91,175<\/td>\nNesbitt crossed 75,000 at 22.68. Now with a pre-tax bid-YTW of 4.99% based on a bid of 22.68 and a limitMaturity.<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nPerpetualDiscount<\/td>\n70,930<\/td>\nNesbitt crossed 50,000 at 22.30. Now with a pre-tax bid-YTW of 5.05% based on a bid of 22.31 and a limitMaturity.<\/td>\n<\/tr>\n
DFN.PR.A<\/td>\nSplitShare<\/td>\n163,650<\/td>\nRe-opened shares start trading June 6<\/a>. Now with a pre-tax bid-YTW of 4.71% based on a bid of 10.36 and a hardMaturity 2014-12-1 at 10.00.<\/td>\n<\/tr>\n
IGM.PR.A<\/td>\nOpRet<\/td>\n62,316<\/td>\nNow with a pre-tax bid-YTW of 4.39% based on a bid of 26.52 and a call 2009-7-30 at 26.00.<\/td>\n<\/tr>\n<\/table>\n

There were thirty-three 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-896","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/896","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=896"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/896\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}