Bond prices
Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: Bond prices

  1. #1
    Junior Member
    Join Date
    Aug 2016
    Posts
    9

    Bond prices

    Here are some websites for Canadian bond prices.

    bondtradedata.iiroc.ca/#/search ,wholesale prices, 2 day delay
    stockwatch.com/Quote/Candeal.aspx wholesale prices from Candeal, 1 day delay
    candeal.ca/bond-quotes , wholesale prices, same day
    pfin.ca/canadianfixedincome/Default.aspx wholesale prices, same day
    gold.globeinvestor.com wholesale prices, 1 day delay, subscription needed, has quotes on most bonds
    questrade.com/bonds retail prices on bonds


  2. #2
    Member
    Join Date
    Sep 2015
    Location
    Manitoba
    Posts
    95

    Commissions

    I have been told by a discount broker that a built in commission of about 1% is built into the ask price and similarly into the sell price. That means that in a low interest environment, about one year of interest income is consumed by the transaction cost. A rather large amount, I think.

    In the post above, Questrade claims "zero commission".

    What is going on?
    Last edited by stantistic; 2017-02-25 at 05:37 PM.

  3. #3
    Senior Member
    Join Date
    Sep 2016
    Posts
    458
    Need an exchange where those trading are members of the exchange

  4. Remove Advertisements
    CanadianMoneyForum.com
    Advertisements
     

  5. #4
    Senior Member
    Join Date
    Sep 2013
    Location
    Ontario
    Posts
    785
    BMO Investorline (and likely other major on line brokerages) quote prices and yields on all bonds they have available. They also show what the brokerage fee will be if you go ahead with the purchase. In the past that fee was "hidden" and only reflected in the difference between buy/sell.

  6. #5
    Junior Member
    Join Date
    Aug 2016
    Posts
    9
    The prices on Questrade already include commission. I looked at a few bonds to compare price. Canadian Natural 2019-12-03 2.6%,Candeal has a ask price of 101.9, BMO investorline has a price of 102.53 , Questrade 102.7, Scotia Itrade 102.47 ( all of these have commission included). On higher yield bonds the spreads are going to be larger from the ask price. Ie Aimia 2019-05-17, I am getting a ask price of 102.98 and the price quoted by Questrade is 105.46.

    Typically when I am buying a bond that is not on the brokers bond list I will pay approx. 1.5 more than the ask price. ie if the ask price is 101.5 I would pay 103 including commissions.

  7. #6
    Member
    Join Date
    Sep 2015
    Location
    Manitoba
    Posts
    95
    Thanks all.
    Sorry about the large font and space in post 2.
    I don't have the computer skills to fix it.

  8. #7
    Senior Member
    Join Date
    Sep 2013
    Location
    Ontario
    Posts
    785
    Quote Originally Posted by Brin68 View Post
    The prices on Questrade already include commission. I looked at a few bonds to compare price. Canadian Natural 2019-12-03 2.6%,Candeal has a ask price of 101.9, BMO investorline has a price of 102.53 , Questrade 102.7, Scotia Itrade 102.47 ( all of these have commission included).
    I just checked BMOIL but could not find that Can Nat bond listed. Checked another bond with similar yield and maturity and found commission was $5.00/$1000 up to 20,000 and $4.00/1000 for above that (only looked at 20&30). The commission is included in the quoted price, but if you click to buy, it gives you the breakdown of the order including commission and accrued interest.

  9. #8
    Junior Member
    Join Date
    Mar 2017
    Posts
    5

    Bond trading

    I'm new to bonds. When you buy individual bonds do you need to basically hold them to maturity like a GIC?
    I was checking out a bond on TDI today, and it seemed like a very wide spread.
    This quote was after hours so during open market hours I suppose the spread could be better?

    CORP MORC 4.099 12/10/18
    BBBl rating
    628 days to maturity
    Ask Price 103.691 Ask Yield 1.90244
    Bid Price 102.474 Bid Yield 2.61421

  10. #9
    Senior Member
    Join Date
    Nov 2012
    Location
    Pacific
    Posts
    7,429
    Some bonds (like government bonds) are liquid and you can buy or sell them any time. Other bonds, most corporates, have limited liquidity. You don't have to hold a bond to maturity, and you can sell it back. But with the poor liquidity of corporates (as you saw there with the bid/ask) you may not want to try selling it.

    I hold a government bond portfolio and these are liquid. No problem at all buying and selling them before maturity.

    But if you're investing in corporates you're probably better off in a bond ETF. For example short term corporate bonds are easily done with VSC

    1 year performance: 2.77%
    3 year performance: 2.50% per year

  11. #10
    Senior Member
    Join Date
    Jun 2013
    Posts
    206
    It would be interesting to compare different brokers to see who's got the best bond prices!

    @james what stats are you looking at to determine how liquid a given bond is? For stocks we'd look at the daily average volume. With bonds I assume we trading to/from the broker, our order doesn't go to an open market exchange?
    for example TD Webbroker shows the offer quantity of 531,000 for a Toronto muni.



    Here's a few other page with some useful rates:
    http://www.tmxmoney.com/en/market_activity/candeal.html
    http://www.financialpost.com/markets...ds-can_us.html
    https://ca.investing.com/markets/canada Click on the bonds tab. It has a nice Yield curve and links to all the different GOC bonds. Each one has nice chart that can even show intraday changes. For example:
    https://ca.investing.com/rates-bonds...ear-bond-yield


Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •