Nicholas Yaxley.

About Nicholas Yaxley

Nick founded BondAdviser in July 2014. He has over 15 years’ experience in developing research and investment solutions across Public and Private Credit Markets. Read bio >
26 Jan, 2017

Hybrids: 2017 First Half Redemptions

By |2021-09-24T10:43:39+10:00Jan 26, 2017|Hybrids, Market Commentary|

In 2017, there are a number of major scheduled call dates and final redemptions in the ASX-listed Debt & Hybrid Market. While it is important to ensure that capital is paid back, many investors require a new investment vehicle to reinvest the repaid funds. For this reason, we have given our thoughts on potential refinancing for major securities scheduled to [...]

26 Jan, 2017

UniCredit: AT1 Security Structure Risk

By |2021-09-24T10:43:39+10:00Jan 26, 2017|Case Study, Hybrids|

In a stress test of Eurozone’s biggest lenders carried out by ECB last year, UniCredit emerged as the sixth weakest bank in the region. In an effort to distance itself from Italy's prolonged banking crisis the Italian bank unveiled an “aggressive and immediate” approach to cut asset hangover and clean up its balance sheet in December 2016. After various disposals [...]

26 Jan, 2017

US Default Rates Remain Low

By |2017-01-26T20:30:32+11:00Jan 26, 2017|Market Commentary|

Consumer Credit Default rates in the US rose only slightly in December according to the S&P Experian Consumer Credit Default Indices released last week. The comprehensive composite index, which measures consumer default across a range of loan types, stood at 0.89% up 2.3% from the previous month but down 8% since December 2015. The managing director of the Index Committee at S&P Dow [...]