BondAdviser Ratesheet as at 28 June 2016
Click here to access the BondAdviser Ratesheet as at 28 June 2016
28
Jun, 2016
27
Jun, 2016
BondAdviser Ratesheet as at 27 June 2016
Click here to access the BondAdviser Ratesheet as at 27 June 2016
27
Jun, 2016
Interest Rate Commentary
Following Britain's recent decision to leave the European Union, we expect monetary easing to be on the agenda for most central banks. While countries such as the UK and Japan have already used most of there firepower, Australia still has room to move at the current cash rate of 1.75%. With the possibility of deflation already pressuring the RBA into [...]
27
Jun, 2016
Weekly Highlights
The outcome of Thursday’s UK referendum took most market participants by surprise, with equity and credit markets significantly weaker across the globe. There was a partial recovery on Friday afternoon from the initial selling but futures markets on Monday morning are pointing to further selling in the UK. Almost all investors except the most conservatively positioned have been effected [...]
26
Jun, 2016
BondAdviser Ratesheet as at 24 June 2016
Click here to access the BondAdviser Ratesheet as at 24 June 2016
23
Jun, 2016
BondAdviser Ratesheet as at 23 June 2016
Click here to access the BondAdviser Ratesheet as at 23 June 2016
22
Jun, 2016
What scenario would result in APRA deeming a Non-Viability Trigger Event?
Since 1 January 2013 all Australian Banks regulated by the Australian Prudential Regulation Authority (APRA) have issued hybrid securities (also known as Additional Tier 1 (AT1) capital securities) that include terminology called a non- viability trigger event which is designed to absorb losses in a time of stress while the bank is still a going concern. These loss-absorption triggers allow [...]
22
Jun, 2016
Understanding Capital Management: Elders
The Elders Hybrid (ASX: ELDPA) story is an interesting one as it highlights the complexity of capital management. Following Elders’ announcement last week to undergo an equity capital raising to facilitate the on-market buy-back of its outstanding hybrid securities, we believe it is a good opportunity to revisit Elders’ recent history for future reference in regards to perpetual securities. The [...]
22
Jun, 2016
Virgin Update
Earlier in the year Virgin Australia tapped strategic shareholders for a $425 million loan facility prompting a review of its capital structure to enhance cashflow and profitability. The last time Virgin went to these shareholders was in late 2013 ($90 million) when the aviation industry was facing poor consumer sentiment and high oil prices. Qantas was in an even worse position [...]
22
Jun, 2016
BondAdviser Ratesheet as at 22 June 2016
Click here to access the BondAdviser Ratesheet as at 22 June 2016
