Much has been said in recent months about the wider stability (or lack of) within Italian Banking. Likewise, the apparent unpredictability of US markets has also been well publicised. BondAdviser has provided various comments on both topics in previous additions of Up the Curve, available here. Late last month, following a systemic selloff in risk assets, the 10-year government bond [...]
Following a rebound in equity markets over the first two months of 2019, equity markets moderated throughout March as bond market headlines became the flavour of the month. Meanwhile, ABS figures revealed deteriorating economic data as GDP grew at just 0.2% in the December quarter, which translated to an annualised rate of 2.3%. This increased market expectations that the central [...]
In our previous post, we discussed the potential impact that a falling interest rate environment falling interest rate environment may have on AT1 hybrids valuations. To summarize that article, BondAdviser does not believe an RBA cash rate cut will have too dramatic an impact on hybrid valuations. Further to this discussion, it feels prudent to explore movements in the bank [...]
From a relatively benign main reporting season for corporates, we have been rather active in March as subscribers would already have noted. Most recently and following its own trading update, we provide some thought leadership on the complicated and convoluted outlook for Nufarm Subordinated Step-Up Securities for subscribers here.
Please click here to access the BondAdviser Ratesheet as at 20th March 2019.
Markets extended their January gains through February in a month largely dominated by reporting season news. From a rates perspective, caution was preached by both the Fed and RBA - firming their neutral stances on monetary policy. On the domestic front, the RBA further distanced itself from previous guidance, which was posturing that the next move was up rather than [...]
It would be safe to assume that popular search engines have witnessed a dramatic increase in ‘franking credits’ inquiries since the Leader of the Opposition divulged his party’s proposed changes to the scheme a year ago. Whilst there is still water to go under the bridge on that front, the popularity of Australia’s dividend imputation system as a discussion point [...]
Please click here to access the BondAdviser Ratesheet as at 22nd February 2019.
In the current unsettled times, with the financial and banking sector braced for more active and aggressive regulators and possible sweeping changes to operating models, the issues associated with reliable investor information and recommendations appear more relevant than ever. It is not that transparency from issuers is being brought into question, though it seemingly is. It is the murkiness with [...]
As we reach the middle of Q1 2019, with reporting season well underway and Commissioner Kenneth Hayne’s final report has been thus far absorbed by financial markets, it appears that credit fundamentals remain broadly intact. Now is a good chance to review the current conditions in credit markets and understand the risk and return characteristics of different areas of a [...]
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An employee-owned financial services provider focused on the Debt Capital Markets.
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ABN 31 164 148 467 ‧ Important Information
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
