Bonds closed the week on a happy note, while Dura Automotive Systems reminded investors why junk got such a pejoritive name. New junk issues slowed this week as a few issues were pulled amid widening spreads.
| 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 | 5.28% | 5.30% | 27,711 | 15.00 | 2 | +0.4202% | 1,019.3 |
| Fixed-Floater | 5.03% | 5.33% | 138,861 | 13.66 | 8 | +0.4455% | 1,004.2 |
| Floater | 4.86% | 0.26% | 79,603 | 4.17 | 4 | -0.0199% | 1,048.5 |
| Op. Retract | 4.83% | 4.07% | 84,959 | 2.80 | 16 | -0.1345% | 1,021.0 |
| Split-Share | 5.05% | 4.57% | 119,174 | 3.99 | 17 | -0.0042% | 1,047.0 |
| Interest Bearing | 6.22% | 6.34% | 66,250 | 4.42 | 3 | -0.2031% | 1,036.1 |
| Perpetual-Premium | 5.54% | 5.16% | 118,589 | 5.28 | 26 | -0.0193% | 1,021.8 |
| Perpetual-Discount | 5.12% | 5.15% | 361,990 | 14.86 | 38 | +0.0583% | 964.2 |
| Major Price Changes | |||
| Issue | Index | Change | Notes |
| GWO.PR.E | OpRet | -1.8641% | Now with a pre-tax bid-YTW of 4.47% based on a bid of 25.27 and a call 2011-4-30 at 25.00. There is still some some uncertainty about GWO’s capital market plans, despite the recent successful bond issue. |
| CFS.PR.A | SplitShare | -1.400% | Now with a pre-tax bid-YTW of 4.61% based on a bid of 9.86 and a hardMaturity 2012-1-31 at 10.00. |
| FFN.PR.A | SplitShare | +1.3553% | Now with a pre-tax bid-YTW of 4.55% based on a bid of 10.47 and a hardMaturity 2014-12-1 at 10.00. |
| Volume Highlights | |||
| Issue | Index | Volume | Notes |
| BMO.PR.J | PerpetualDiscount | 18,165 | Now with a pre-tax bid-YTW of 5.09% based on a bid of 22.40 and a limitMaturity. |
| TOC.PR.B | Floater | 17,300 | National Bank crossed 17,300 at 25.20 in the day’s only trade. Still on credit review negative by DBRS. |
| POW.PR.B | PerpetualDiscount | 16,700 | Now with a pre-tax bid-YTW of 5.46% based on a bid of 24.56 and a limitMaturity. |
| SLF.PR.C | PerpetualDiscount | 14,795 | Now with a pre-tax bid-YTW of 5.06% based on a bid of 22.15 and a limitMaturity. |
| SLF.PR.D | PerpetualDiscount | 13,458 | Now with a pre-tax bid-YTW of 5.06% based on a bid of 22.15 and a limitMaturity. |
There were ten other $25-equivalent index-included issues trading over 10,000 shares today.