The PerpetualDiscount winning streak ended today – the index was down less than a beep, but it was down! Volume continues fairly light.
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 (at bid) |
Mean YTW |
Mean Average Trading Value |
Mean Mod Dur (YTW) |
Issues |
Day’s Perf. |
Index Value |
Ratchet |
N/A |
N/A |
N/A |
N/A |
0 |
N/A |
N/A |
Fixed-Floater |
4.68% |
4.39% |
66,304 |
16.33 |
6 |
+0.0289% |
1,085.8 |
Floater |
4.16% |
4.18% |
58,107 |
17.03 |
3 |
+0.8953% |
887.9 |
Op. Retract |
4.99% |
4.59% |
131,811 |
3.41 |
17 |
-0.0994% |
1,040.7 |
Split-Share |
5.38% |
6.16% |
61,773 |
4.49 |
14 |
-0.1275% |
1,028.2 |
Interest Bearing |
6.14% |
6.02% |
41,127 |
3.67 |
3 |
-0.1669% |
1,120.7 |
Perpetual-Premium |
6.15% |
6.17% |
70,163 |
10.65 |
4 |
-0.0544% |
981.4 |
Perpetual-Discount |
6.32% |
6.38% |
226,376 |
13.38 |
67 |
-0.0063% |
840.0 |
Major Price Changes |
Issue |
Index |
Change |
Notes |
POW.PR.B |
PerpetualDiscount |
-2.0843% |
Now with a pre-tax bid-YTW of 6.39% based on a bid of 21.14 and a limitMaturity. |
BAM.PR.I |
OpRet |
-1.9786% |
Now with a pre-tax bid-YTW of 6.73% based on a bid of 23.78 and a softMaturity 2013-12-30 at 25.00. Compare with BAM.PR.H (6.49% to 2012-3-30), BAM.PR.J (7.00% to 2018-3-30) and BAM.PR.O (6.60% TO 2013-6-30) … and consider the rather odd report in the comments to July 25! |
CM.PR.D |
PerpetualDiscount |
-1.9608% |
Now with a pre-tax bid-YTW of 7.07% based on a bid of 20.50 and a limitMaturity. |
MFC.PR.B |
PerpetualDiscount |
-1.9500% |
Now with a pre-tax bid-YTW of 6.02% based on a bid of 19.61 and a limitMaturity. |
PWF.PR.E |
PerpetualDiscount |
-1.5561% |
Now with a pre-tax bid-YTW of 6.44% based on a bid of 21.51 and a limitMaturity. |
GWO.PR.F |
PerpetualDiscount |
-1.4028% |
Now with a pre-tax bid-YTW of 6.06% based on a bid of 24.60 and a limitMaturity. |
BNA.PR.C |
SplitShare |
-1.3476% |
Asset coverage of 3.2+:1 as of June 30, according to the company. Now with a pre-tax bid-YTW of 8.92% based on a bid of 17.57 and a hardMaturity 2019-1-10 at 25.00. Compare with BNA.PR.A (6.11% to 2010-9-30) and BNA.PR.B (8.55% to 2016-3-25). |
ENB.PR.A |
PerpetualDiscount |
-1.0846% |
Now with a pre-tax bid-YTW of 6.13% based on a bid of 22.80 and a limitMaturity. |
BAM.PR.K |
Floater |
+1.0101% |
|
PWF.PR.G |
PerpetualDiscount |
+1.1804% |
Now with a pre-tax bid-YTW of 6.17% based on a bid of 24.00 and a limitMaturity. |
BAM.PR.B |
Floater |
+1.6757% |
|
IAG.PR.A |
PerpetualDiscount |
+2.1148% |
Now with a pre-tax bid-YTW of 6.90% based on a bid of 16.90 and a limitMaturity. |
BNS.PR.J |
PerpetualDiscount |
+2.5105% |
Now with a pre-tax bid-YTW of 5.97% based on a bid of 22.05 and a limitMaturity. |
Volume Highlights |
Issue |
Index |
Volume |
Notes |
ALB.PR.A |
SplitShare |
131,314 |
CIBC crossed 128,600 at 24.26. Asset coverage of 1.6+:1 as of July 24, according to Scotia Managed Companies. Now with a pre-tax bid-YTW of 5.81% based on a bid of 24.26 and a hardMaturity 2011-2-28 at 25.00. |
TD.PR.M |
OpRet |
130,100 |
Nesbitt crossed 130,000 at 26.05. Now with a pre-tax bid-YTW of 3.85% based on a bid of 26.02 and a softMaturity 2013-10-30 at 25.00. |
TD.PR.O |
PerpetualDiscount |
39,011 |
National crossed 30,000 at 20.84. Now with a pre-tax bid-YTW of 5.86% based on a bid of 20.81 and a limitMaturity. |
RY.PR.F |
PerpetualDiscount |
35,489 |
Now with a pre-tax bid-YTW of 6.33% based on a bid of 17.61 and a limitMaturity. |
TD.PR.Q |
PerpetualDiscount |
29,360 |
CIBC crossed 25,000 at 23.95. Now with a pre-tax bid-YTW of 5.87% based on a bid of 23.97 and a limitMaturity. |
There were fourteen other index-included $25-pv-equivalent issues trading over 10,000 shares today.
This entry was posted on Monday, July 28th, 2008 at 7:34 pm and is filed under Market Action. You can follow any responses to this entry through the RSS 2.0 feed.
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Welllllll…..
If you like the volume in the bank prefs (I won’t say which, but it is across the board) you can all send me candy. I just can’t resist the over 6% yield any more.
I prefer chocolate nougat.
So, given that PerpetualDiscounts first yielded 6%+ on June 17 (it seems so long ago!), that puts your ability to resist temptation at six weeks!
I would have sent you candy, but you didn’t lift any of my offers. Cheapskate.
[…] are up every day month-to-date, totalling 1.38%. They have had only one down-day (July 28) since the trough on July 16 and are now up 6.62% since trough-date. Average dividend yield is now […]