BondAdviser Ratesheet as at 24th May 2017
Click here to access the BondAdviser Ratesheet as at 24th May 2017.
24
May, 2017
23
May, 2017
BondAdviser Ratesheet as at 23rd May 2017
Click here to access the BondAdviser Ratesheet as at 23rd May 2017.
22
May, 2017
BondAdviser Ratesheet as at 22nd May 2017
Click here to access the BondAdviser Ratesheet as at 22nd May 2017.
22
May, 2017
Weekly Highlights
Broad market confidence took a turn for worse last week as allegations surrounding President Trump spooked investors. The allegations are another pothole in the road to success for implementing stimulatory policies and this in turn effected implied inflation expectations in the US (from high of 1.90% to low of 1.78%). As a result, equities sold off and treasury bonds rallied [...]
21
May, 2017
BondAdviser Ratesheet as at 19th May 2017
Click here to access the BondAdviser Ratesheet as at 19th May 2017.
18
May, 2017
BondAdviser Ratesheet as at 18th May 2017
Click here to access the BondAdviser Ratesheet as at 18th May 2017.
18
May, 2017
Bank Hybrids: Is The Credit Risk Premium Worth It?
During the Global Financial Crisis (GFC), bank consolidation was a major action undertaken to ensure global financial stability. In Australia, key transactions included Commonwealth Banks takeover of BankWest and the merger of Bendigo Bank and Adelaide Bank. Since then, market concentration in the Australian banking system has lessened competition among participants (Figure 1). Figure 1. Relative size of Australian banking [...]
18
May, 2017
Netflix: Large Cap High-Yield Credit
Over the past decade, Netflix has risen to be a household name through its leading position in the of ~US$30 billion global video streaming market. The company is a constituent of the S&P500 index (the largest 500 stocks in the US) and its market capitalisation has grown significantly since 2012 as its international footprint has expanded to over 190 countries. [...]
18
May, 2017
Understanding Covenants
Security covenants play a crucial role in investor protection and serve as a major contributor to credit analysis. While financial institutions such as banks and insurance companies are subject to regulatory requirements, a security’s covenant package is instrumental to downside protection when investing in non-financial corporate debt issuers. Covenants are legally enforceable conditions that borrowers (the issuer) and lenders (the investors) agree [...]
17
May, 2017
BondAdviser Ratesheet as at 17th May 2017
Click here to access the BondAdviser Ratesheet as at 17th May 2017.
