{"id":9069,"date":"2009-12-17T19:59:51","date_gmt":"2009-12-17T23:59:51","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=9069"},"modified":"2009-12-17T19:59:51","modified_gmt":"2009-12-17T23:59:51","slug":"december-17-2009","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=9069","title":{"rendered":"December 17, 2009"},"content":{"rendered":"

PerpetualDiscounts took a hit today, losing 15bp, but FixedResets just kept on keeping on, up 8bp to close with a weighted-median-average YTW of 3.68%. How Low Can They Go? Volume was moderately good.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.8787 %<\/td>\n1,563.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n5.66 %<\/td>\n3.81 %<\/td>\n41,788<\/td>\n19.03<\/td>\n1<\/td>\n0.4710 %<\/td>\n2,750.7<\/td>\n<\/tr>\n
Floater<\/td>\n2.51 %<\/td>\n2.96 %<\/td>\n102,744<\/td>\n19.83<\/td>\n3<\/td>\n0.8787 %<\/td>\n1,953.0<\/td>\n<\/tr>\n
OpRet<\/td>\n4.86 %<\/td>\n-3.11 %<\/td>\n133,338<\/td>\n0.09<\/td>\n15<\/td>\n0.1277 %<\/td>\n2,318.1<\/td>\n<\/tr>\n
SplitShare<\/td>\n6.44 %<\/td>\n-4.65 %<\/td>\n243,143<\/td>\n0.08<\/td>\n2<\/td>\n-0.2217 %<\/td>\n2,084.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1277 %<\/td>\n2,119.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.87 %<\/td>\n5.80 %<\/td>\n82,127<\/td>\n2.33<\/td>\n7<\/td>\n-0.1021 %<\/td>\n1,879.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.79 %<\/td>\n5.83 %<\/td>\n199,269<\/td>\n14.03<\/td>\n68<\/td>\n-0.1520 %<\/td>\n1,797.9<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.41 %<\/td>\n3.68 %<\/td>\n352,168<\/td>\n3.87<\/td>\n41<\/td>\n0.0758 %<\/td>\n2,164.2<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
IGM.PR.B<\/td>\nPerpetual-Discount<\/td>\n-2.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-12-17
\nMaturity Price : 24.07
\nEvaluated at bid price : 24.26
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetual-Discount<\/td>\n-1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-12-17
\nMaturity Price : 23.73
\nEvaluated at bid price : 24.04
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n
BNS.PR.K<\/td>\nPerpetual-Discount<\/td>\n-1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-12-17
\nMaturity Price : 21.49
\nEvaluated at bid price : 21.77
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-12-17
\nMaturity Price : 13.15
\nEvaluated at bid price : 13.15
\nBid-YTW : 2.99 %<\/td>\n<\/tr>\n
TD.PR.P<\/td>\nPerpetual-Discount<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-12-17
\nMaturity Price : 23.85
\nEvaluated at bid price : 24.06
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
IGM.PR.B<\/td>\nPerpetual-Discount<\/td>\n177,249<\/td>\nInventory Blow-Out Sale<\/a>.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-12-17
\nMaturity Price : 24.07
\nEvaluated at bid price : 24.26
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n168,255<\/td>\nRBC crossed two blocks, of 50,000 and 80,000 shares, at 13.28. Nesbitt crossed 25,000 at 13.26.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-12-17
\nMaturity Price : 13.27
\nEvaluated at bid price : 13.27
\nBid-YTW : 2.96 %<\/td>\n<\/tr>\n
IGM.PR.A<\/td>\nOpRet<\/td>\n164,934<\/td>\nCalled for Redemption<\/a>. Nesbitt crossed 155,000 at 26.00.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2010-07-30
\nMaturity Price : 25.67
\nEvaluated at bid price : 25.97
\nBid-YTW : 3.36 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nPerpetual-Discount<\/td>\n120,236<\/td>\nNesbitt crossed 100,000 at 18.85.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2039-12-17
\nMaturity Price : 18.85
\nEvaluated at bid price : 18.85
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n
BMO.PR.O<\/td>\nFixedReset<\/td>\n114,335<\/td>\nTD crossed 88,800 at 28.10; sold 11,000 to National at 28.15; and sold two blocks of 10,000 each to RBC at 28.15.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-06-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.11
\nBid-YTW : 3.64 %<\/td>\n<\/tr>\n
CM.PR.L<\/td>\nFixedReset<\/td>\n55,313<\/td>\nRBC bought 14,400 from CIBC at 28.15, then crossed 25,500 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-05-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.13
\nBid-YTW : 3.68 %<\/td>\n<\/tr>\n
There were 34 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

PerpetualDiscounts took a hit today, losing 15bp, but FixedResets just kept on keeping on, up 8bp to close with a weighted-median-average YTW of 3.68%. How Low Can They Go? Volume was moderately good. HIMIPref™ Preferred …<\/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-9069","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9069","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=9069"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9069\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}