Sorry folks! Today’s commentary is greatly abridged … but I did post some commentary on Financial Stability and MAPF Portfolio Composition.
Not much price movement in the preferred share market today, and volume eased off.
| 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 | 5.24% | 5.28% | 30,633 | 15.12 | 2 | 0.0000% | 1,089.0 |
| Fixed-Floater | 4.82% | 5.43% | 62,485 | 14.98 | 8 | -0.4081% | 1,034.3 |
| Floater | 4.97% | 5.00% | 75,931 | 15.55 | 2 | -0.6667% | 838.2 |
| Op. Retract | 4.85% | 4.19% | 80,374 | 3.34 | 15 | +0.0590% | 1,047.0 |
| Split-Share | 5.40% | 6.04% | 93,280 | 4.10 | 14 | +0.1961% | 1,024.2 |
| Interest Bearing | 6.20% | 6.17% | 66,061 | 3.91 | 3 | -0.2021% | 1,092.7 |
| Perpetual-Premium | 5.92% | 5.64% | 225,675 | 4.31 | 7 | -0.2707% | 1,014.7 |
| Perpetual-Discount | 5.70% | 5.73% | 274,855 | 14.11 | 62 | -0.0942% | 912.4 |
| Major Price Changes | |||
| Issue | Index | Change | Notes |
| BCE.PR.I | FixFloat | -4.1667% | |
| PWF.PR.L | PerpetualDiscount | -2.1963% | Now with a pre-tax bid-YTW of 5.85% based on a bid of 21.82 and a limitMaturity. |
| CL.PR.B | PerpetualPremium | -1.7334% | Now with a pre-tax bid-YTW of 5.51% based on a bid of 25.51 and a call 2011-1-30 at 25.00. |
| RY.PR.W | PerpetualDiscount | -1.5583% | Now with a pre-tax bid-YTW of 5.62% based on a bid of 22.11 and a limitMaturity. |
| RY.PR.A | PerpetualDiscount | -1.4146% | Now with a pre-tax bid-YTW of 5.59% based on a bid of 20.21 and a limitMaturity. |
| PWF.PR.K | OpRet | -1.4014% | Now with a pre-tax bid-YTW of 5.68% based on a bid of 21.81 and a limitMaturity. |
| BAM.PR.M | PerpetualDiscount | -1.3941% | Now with a pre-tax bid-YTW of 6.51% based on a bid of 18.39 and a limitMaturity. |
| BAM.PR.K | Floater | -1.3333% | |
| TCA.PR.X | PerpetualDiscount | -1.1418% | Now with a pre-tax bid-YTW of 5.59% based on a bid of 49.35 and a limitMaturity. |
| HSB.PR.C | PerpetualDiscount | -1.0596% | Now with a pre-tax bid-YTW of 5.72% based on a bid of 22.41 and a limitMaturity. |
| CM.PR.H | PerpetualDiscount | +1.0907% | Now with a pre-tax bid-YTW of 5.90% based on a bid of 20.39 and a limitMaturity. |
| PIC.PR.A | SplitShare | +1.2916% | Asset coverage of just under 1.5:1 as of March 27, according to Mulvihill. Now with a pre-tax bid-YTW of 6.50% based on a bid of 14.90 and a hardMaturity 2010-11-1 at 15.00. |
| PWF.PR.F | PerpetualDiscount | +1.3829% | Now with a pre-tax bid-YTW of 5.59% based on a bid of 23.46 and a limitMaturity. |
| Volume Highlights | |||
| Issue | Index | Volume | Notes |
| BMO.PR.L | PerpetualDiscount | 264,750 | New issue settled today. Now with a pre-tax bid-YTW of 5.89% based on a bid of 24.75 and a limitMaturity. |
| MFC.PR.B | PerpetualDiscount | 216,871 | Now with a pre-tax bid-YTW of 5.32% based on a bid of 22.00 and a limitMaturity. |
| FAL.PR.B | FixFloat | 61,920 | |
| MFC.PR.C | PerpetualDiscount | 32,850 | Now with a pre-tax bid-YTW of 5.38% based on a bid of 21.11 and a limitMaturity. |
| GWO.PR.I | PerpetualDiscount | 31,010 | Now with a pre-tax bid-YTW of 5.62% based on a bid of 20.15 and a limitMaturity. |
There were twelve other index-included $25-pv-equivalent issues trading over 10,000 shares today.