Nice quote from Richard Fisher of the Dallas Fed:
Investors shouldn’t overreact to the central bank’s plans to reduce the pace of asset purchases, Fisher said in an interview with the Financial Times published today on its web site. Investors behaved like “feral hogs” after the June 19 comments by Bernanke, he said, according to the newspaper.
Nothing moves as quickly as retail:
According to TrimTabs Investment Research, investors are selling bond-related investments at a record pace, with $47.2-billion (U.S.) flowing out of U.S. bond mutual funds and exchange-traded funds so far in June, easily exceeding the record of $41.8-billion set in October, 2008, during the financial panic.
Meanwhile, at the Canadian preferred share investor convention:
The Canadian preferred share market was left a shambles after a day of slaughter, with PerpetualPremiums losing 158bp, FixedResets off 78bp and DeemedRetractibles down 123bp. The Performance Highlights table is suitably ridiculous with … um … LOTS! That’s right, LOTS of entries … and a solitary winner. Volume was gargantuan.
HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0656 % | 2,548.2 |
FixedFloater | 4.41 % | 3.74 % | 47,574 | 17.82 | 1 | -2.4036 % | 3,721.8 |
Floater | 2.75 % | 2.92 % | 78,145 | 19.91 | 4 | 0.0656 % | 2,751.4 |
OpRet | 4.87 % | 4.04 % | 69,439 | 0.08 | 5 | -0.2967 % | 2,606.2 |
SplitShare | 4.68 % | 4.28 % | 95,571 | 3.99 | 6 | -0.1109 % | 2,959.9 |
Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2967 % | 2,383.1 |
Perpetual-Premium | 5.53 % | 5.65 % | 126,548 | 14.32 | 33 | -1.5845 % | 2,235.2 |
Perpetual-Discount | 5.58 % | 5.63 % | 248,893 | 14.44 | 5 | -1.4397 % | 2,339.3 |
FixedReset | 5.00 % | 3.56 % | 249,572 | 4.02 | 83 | -0.7276 % | 2,456.0 |
Deemed-Retractible | 5.16 % | 5.21 % | 175,226 | 7.04 | 44 | -1.2349 % | 2,333.2 |
Performance Highlights | |||
Issue | Index | Change | Notes |
GWO.PR.I | Deemed-Retractible | -6.66 % | This has more to do with the laziness of the market maker than anything else – the low for the day was 21.86, the closing quote was 21.01-22.21, 2×5, and, of the 25 latest trades reported by the TMX commencing 12:30pm, there was only one at less than 22.00 (that trade, at 1:28pm, was for 200 shares at 21.99). Still, the loss would be significant even if there had been a competent market maker. YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.01 Bid-YTW : 6.51 % |
ELF.PR.G | Perpetual-Discount | -6.26 % | Another case showing up the sleaziness of the close-mouthed market making cartel: the low for the day was 22.17, the closing quote was 21.56-25, 5×38 and, of the 25 latest trades reported by the TMX commencing 9:57am, only two were after 3:00pm. Still, the loss would be significant even if there had been a competent market maker. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 21.56 Evaluated at bid price : 21.56 Bid-YTW : 5.62 % |
TRP.PR.B | FixedReset | -4.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.64 Evaluated at bid price : 22.97 Bid-YTW : 3.37 % |
TRP.PR.A | FixedReset | -4.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.61 Evaluated at bid price : 24.01 Bid-YTW : 3.88 % |
PWF.PR.L | Perpetual-Premium | -3.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.39 Evaluated at bid price : 22.80 Bid-YTW : 5.67 % |
CU.PR.D | Perpetual-Premium | -3.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.28 Evaluated at bid price : 23.60 Bid-YTW : 5.23 % |
PWF.PR.F | Perpetual-Premium | -3.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.54 Evaluated at bid price : 23.81 Bid-YTW : 5.59 % |
VNR.PR.A | FixedReset | -3.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.22 Evaluated at bid price : 25.02 Bid-YTW : 4.46 % |
FTS.PR.J | Perpetual-Premium | -3.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.42 Evaluated at bid price : 22.75 Bid-YTW : 5.26 % |
POW.PR.A | Perpetual-Premium | -2.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.87 Evaluated at bid price : 24.12 Bid-YTW : 5.81 % |
PWF.PR.K | Perpetual-Premium | -2.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.06 Evaluated at bid price : 22.50 Bid-YTW : 5.57 % |
CU.PR.E | Perpetual-Premium | -2.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.24 Evaluated at bid price : 23.55 Bid-YTW : 5.24 % |
GWO.PR.G | Deemed-Retractible | -2.88 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.60 Bid-YTW : 5.90 % |
POW.PR.D | Perpetual-Premium | -2.84 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.68 Evaluated at bid price : 22.94 Bid-YTW : 5.45 % |
BAM.PR.X | FixedReset | -2.80 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.27 Evaluated at bid price : 22.88 Bid-YTW : 4.08 % |
MFC.PR.F | FixedReset | -2.68 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.01 Bid-YTW : 3.90 % |
CIU.PR.C | FixedReset | -2.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.84 Evaluated at bid price : 23.70 Bid-YTW : 3.33 % |
PWF.PR.E | Perpetual-Premium | -2.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 24.00 Evaluated at bid price : 24.25 Bid-YTW : 5.76 % |
BAM.PR.G | FixedFloater | -2.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.14 Evaluated at bid price : 21.52 Bid-YTW : 3.74 % |
MFC.PR.B | Deemed-Retractible | -2.32 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.90 Bid-YTW : 6.21 % |
PWF.PR.G | Perpetual-Premium | -2.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 24.49 Evaluated at bid price : 24.72 Bid-YTW : 6.07 % |
BAM.PR.T | FixedReset | -2.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.07 Evaluated at bid price : 24.44 Bid-YTW : 4.16 % |
BNS.PR.K | Deemed-Retractible | -2.19 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.52 Bid-YTW : 5.21 % |
ELF.PR.H | Perpetual-Premium | -2.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 24.20 Evaluated at bid price : 24.60 Bid-YTW : 5.68 % |
SLF.PR.C | Deemed-Retractible | -2.17 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.14 Bid-YTW : 6.38 % |
HSE.PR.A | FixedReset | -2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.73 Evaluated at bid price : 23.46 Bid-YTW : 3.81 % |
SLF.PR.G | FixedReset | -2.08 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.99 Bid-YTW : 3.82 % |
GWO.PR.M | Deemed-Retractible | -2.02 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2019-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.25 Bid-YTW : 5.62 % |
NA.PR.L | Deemed-Retractible | -2.01 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.40 Bid-YTW : 5.31 % |
GWO.PR.L | Deemed-Retractible | -2.00 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.96 Bid-YTW : 5.70 % |
GWO.PR.J | FixedReset | -1.98 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.70 Bid-YTW : 5.04 % |
BAM.PR.K | Floater | -1.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 17.36 Evaluated at bid price : 17.36 Bid-YTW : 3.02 % |
SLF.PR.E | Deemed-Retractible | -1.89 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.26 Bid-YTW : 6.37 % |
POW.PR.B | Perpetual-Premium | -1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.63 Evaluated at bid price : 23.90 Bid-YTW : 5.60 % |
ENB.PR.T | FixedReset | -1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.92 Evaluated at bid price : 24.47 Bid-YTW : 4.19 % |
CU.PR.F | Perpetual-Premium | -1.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 21.31 Evaluated at bid price : 21.60 Bid-YTW : 5.24 % |
IGM.PR.B | Perpetual-Premium | -1.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 24.40 Evaluated at bid price : 24.90 Bid-YTW : 6.01 % |
SLF.PR.D | Deemed-Retractible | -1.71 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.25 Bid-YTW : 6.32 % |
MFC.PR.C | Deemed-Retractible | -1.71 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.30 Bid-YTW : 6.37 % |
BAM.PF.A | FixedReset | -1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.07 Evaluated at bid price : 24.78 Bid-YTW : 4.55 % |
ENB.PR.F | FixedReset | -1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.01 Evaluated at bid price : 24.56 Bid-YTW : 4.19 % |
ENB.PR.P | FixedReset | -1.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.93 Evaluated at bid price : 24.45 Bid-YTW : 4.20 % |
POW.PR.G | Perpetual-Premium | -1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 24.20 Evaluated at bid price : 24.60 Bid-YTW : 5.69 % |
PWF.PR.R | Perpetual-Premium | -1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 24.25 Evaluated at bid price : 24.65 Bid-YTW : 5.65 % |
SLF.PR.A | Deemed-Retractible | -1.55 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.22 Bid-YTW : 6.13 % |
GWO.PR.R | Deemed-Retractible | -1.49 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.20 Bid-YTW : 5.68 % |
PWF.PR.S | Perpetual-Premium | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.08 Evaluated at bid price : 23.50 Bid-YTW : 5.16 % |
ENB.PR.H | FixedReset | -1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.81 Evaluated at bid price : 24.10 Bid-YTW : 3.98 % |
GWO.PR.H | Deemed-Retractible | -1.42 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.87 Bid-YTW : 5.90 % |
HSB.PR.C | Deemed-Retractible | -1.40 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.66 Bid-YTW : 5.32 % |
CU.PR.G | Perpetual-Premium | -1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 21.67 Evaluated at bid price : 21.95 Bid-YTW : 5.18 % |
BMO.PR.J | Deemed-Retractible | -1.39 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.80 Bid-YTW : 4.69 % |
BNS.PR.L | Deemed-Retractible | -1.39 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.81 Bid-YTW : 4.73 % |
BAM.PR.Z | FixedReset | -1.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.26 Evaluated at bid price : 25.20 Bid-YTW : 4.59 % |
W.PR.J | Perpetual-Premium | -1.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 24.27 Evaluated at bid price : 24.57 Bid-YTW : 5.80 % |
TRP.PR.D | FixedReset | -1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.09 Evaluated at bid price : 24.92 Bid-YTW : 4.03 % |
ENB.PR.D | FixedReset | -1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.02 Evaluated at bid price : 24.53 Bid-YTW : 4.09 % |
ENB.PR.N | FixedReset | -1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.07 Evaluated at bid price : 24.80 Bid-YTW : 4.24 % |
BNS.PR.M | Deemed-Retractible | -1.27 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.83 Bid-YTW : 4.72 % |
BNS.PR.Y | FixedReset | -1.24 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.90 Bid-YTW : 3.69 % |
ENB.PR.B | FixedReset | -1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.15 Evaluated at bid price : 24.70 Bid-YTW : 4.09 % |
GWO.PR.F | Deemed-Retractible | -1.23 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.81 Bid-YTW : 6.02 % |
GWO.PR.N | FixedReset | -1.21 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.75 Bid-YTW : 3.74 % |
ENB.PR.Y | FixedReset | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.96 Evaluated at bid price : 24.60 Bid-YTW : 4.07 % |
IAG.PR.A | Deemed-Retractible | -1.14 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.45 Bid-YTW : 5.34 % |
RY.PR.F | Deemed-Retractible | -1.12 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.76 Bid-YTW : 4.66 % |
RY.PR.C | Deemed-Retractible | -1.11 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.90 Bid-YTW : 4.74 % |
BNS.PR.P | FixedReset | -1.11 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2018-04-25 Maturity Price : 25.00 Evaluated at bid price : 24.99 Bid-YTW : 3.49 % |
SLF.PR.B | Deemed-Retractible | -1.11 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.35 Bid-YTW : 6.11 % |
TD.PR.A | FixedReset | -1.10 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.12 Bid-YTW : 3.86 % |
FTS.PR.F | Perpetual-Premium | -1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.63 Evaluated at bid price : 22.85 Bid-YTW : 5.41 % |
W.PR.H | Perpetual-Premium | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 24.29 Evaluated at bid price : 24.59 Bid-YTW : 5.69 % |
BMO.PR.K | Deemed-Retractible | -1.02 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2016-11-25 Maturity Price : 25.00 Evaluated at bid price : 25.19 Bid-YTW : 5.17 % |
TRI.PR.B | Floater | 2.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.04 Evaluated at bid price : 23.31 Bid-YTW : 2.22 % |
Volume Highlights | |||
Issue | Index | Shares Traded |
Notes |
RY.PR.P | FixedReset | 179,100 | RBC bought 55,000 from TD at 25.70, then crossed blocks of 73,100 and 17,300 at the same price. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-02-24 Maturity Price : 25.00 Evaluated at bid price : 25.61 Bid-YTW : 3.34 % |
MFC.PR.K | FixedReset | 138,508 | Recent new issue. YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.70 Bid-YTW : 4.03 % |
TD.PR.E | FixedReset | 98,689 | RBC crossed blocks of 49,500 and 25,000, both at 26.00. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-04-30 Maturity Price : 25.00 Evaluated at bid price : 25.91 Bid-YTW : 3.01 % |
BAM.PF.D | Perpetual-Discount | 65,000 | Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.19 Evaluated at bid price : 22.53 Bid-YTW : 5.46 % |
ENB.PR.Y | FixedReset | 61,530 | Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 22.96 Evaluated at bid price : 24.60 Bid-YTW : 4.07 % |
TRP.PR.D | FixedReset | 37,485 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-06-24 Maturity Price : 23.09 Evaluated at bid price : 24.92 Bid-YTW : 4.03 % |
There were 78 other index-included issues trading in excess of 10,000 shares. |
Wide Spread Highlights | ||
Issue | Index | Quote Data and Yield Notes |
GWO.PR.I | Deemed-Retractible | Quote: 21.01 – 22.21 Spot Rate : 1.2000 Average : 0.7146 YTW SCENARIO |
MFC.PR.F | FixedReset | Quote: 24.01 – 24.80 Spot Rate : 0.7900 Average : 0.4737 YTW SCENARIO |
CIU.PR.C | FixedReset | Quote: 23.70 – 24.43 Spot Rate : 0.7300 Average : 0.4715 YTW SCENARIO |
POW.PR.A | Perpetual-Premium | Quote: 24.12 – 24.72 Spot Rate : 0.6000 Average : 0.3427 YTW SCENARIO |
BAM.PR.G | FixedFloater | Quote: 21.52 – 22.25 Spot Rate : 0.7300 Average : 0.4792 YTW SCENARIO |
VNR.PR.A | FixedReset | Quote: 25.02 – 25.67 Spot Rate : 0.6500 Average : 0.4002 YTW SCENARIO |
[…] statement and particularly Bernanke’s press conference afterwards. The market bottomed on June 24 and has been slowly recovering since then; various Fed officials made a concerted effort to calm […]