{"id":9444,"date":"2010-01-18T20:18:49","date_gmt":"2010-01-19T00:18:49","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=9444"},"modified":"2010-01-18T20:18:49","modified_gmt":"2010-01-19T00:18:49","slug":"january-18-2010","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=9444","title":{"rendered":"January 18, 2010"},"content":{"rendered":"

Econbrowser<\/i>‘s James Hamilton took a look at How the Federal Reserve Earned its Profit<\/a>.<\/p>\n

There was a surprising amount of activity in the Canadian preferred share market today – considering the American holiday – with an equally surprising amount of price action. PerpetualDiscounts lost 2bp while FixedResets gained 14bp and scored a shut-out on the volume highlights table.<\/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>\n-0.5052 %<\/td>\n1,700.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n5.78 %<\/td>\n3.86 %<\/td>\n35,307<\/td>\n19.20<\/td>\n1<\/td>\n1.8970 %<\/td>\n2,733.2<\/td>\n<\/tr>\n
Floater<\/td>\n2.31 %<\/td>\n2.63 %<\/td>\n108,857<\/td>\n20.69<\/td>\n3<\/td>\n-0.5052 %<\/td>\n2,124.3<\/td>\n<\/tr>\n
OpRet<\/td>\n4.85 %<\/td>\n-0.18 %<\/td>\n115,727<\/td>\n0.09<\/td>\n13<\/td>\n-0.0767 %<\/td>\n2,318.0<\/td>\n<\/tr>\n
SplitShare<\/td>\n6.36 %<\/td>\n1.26 %<\/td>\n184,028<\/td>\n0.08<\/td>\n2<\/td>\n-0.1534 %<\/td>\n2,111.1<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0767 %<\/td>\n2,119.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.79 %<\/td>\n5.67 %<\/td>\n147,134<\/td>\n5.98<\/td>\n12<\/td>\n-0.1717 %<\/td>\n1,893.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.73 %<\/td>\n5.77 %<\/td>\n179,077<\/td>\n14.24<\/td>\n63<\/td>\n-0.0162 %<\/td>\n1,833.0<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.39 %<\/td>\n3.52 %<\/td>\n330,634<\/td>\n3.85<\/td>\n42<\/td>\n0.1367 %<\/td>\n2,183.0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\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
HSB.PR.C<\/td>\nPerpetual-Discount<\/td>\n-2.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-01-18
\nMaturity Price : 22.58
\nEvaluated at bid price : 22.76
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
IAG.PR.C<\/td>\nFixedReset<\/td>\n-1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.00
\nBid-YTW : 4.12 %<\/td>\n<\/tr>\n
W.PR.J<\/td>\nPerpetual-Discount<\/td>\n-1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-01-18
\nMaturity Price : 22.90
\nEvaluated at bid price : 23.17
\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n
HSB.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-01-18
\nMaturity Price : 22.08
\nEvaluated at bid price : 22.21
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-01-18
\nMaturity Price : 21.43
\nEvaluated at bid price : 21.71
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
PWF.PR.J<\/td>\nOpRet<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2010-02-17
\nMaturity Price : 25.75
\nEvaluated at bid price : 25.97
\nBid-YTW : -7.78 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nPerpetual-Discount<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-01-18
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetual-Discount<\/td>\n1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-01-18
\nMaturity Price : 24.65
\nEvaluated at bid price : 25.01
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\n1.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-01-18
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.80
\nBid-YTW : 3.86 %<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset<\/td>\n1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-11-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.17
\nBid-YTW : 3.70 %<\/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
BAM.PR.R<\/td>\nFixedReset<\/td>\n143,120<\/td>\nRecent new issue<\/a>.
\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2040-01-18
\nMaturity Price : 23.19
\nEvaluated at bid price : 25.30
\nBid-YTW : 4.82 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset<\/td>\n132,770<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2015-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.84
\nBid-YTW : 3.07 %<\/td>\n<\/tr>\n
TD.PR.K<\/td>\nFixedReset<\/td>\n119,820<\/td>\nNesbitt crossed 100,000 at 27.90.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.85
\nBid-YTW : 3.55 %<\/td>\n<\/tr>\n
PWF.PR.M<\/td>\nFixedReset<\/td>\n114,390<\/td>\nNesbitt crossed 100,000 at 27.25.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-02
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.25
\nBid-YTW : 3.58 %<\/td>\n<\/tr>\n
RY.PR.L<\/td>\nFixedReset<\/td>\n106,620<\/td>\nNesbitt crossed 100,000 at 27.25.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.25
\nBid-YTW : 3.48 %<\/td>\n<\/tr>\n
MFC.PR.D<\/td>\nFixedReset<\/td>\n88,965<\/td>\nDesjardins crossed 59,600 at 28.10; RBC crossed 22,800 at the same price.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.08
\nBid-YTW : 3.78 %<\/td>\n<\/tr>\n
There were 50 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Econbrowser‘s James Hamilton took a look at How the Federal Reserve Earned its Profit. There was a surprising amount of activity in the Canadian preferred share market today – considering the American holiday – with …<\/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-9444","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9444","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=9444"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9444\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}