June 2017 Figure 1. Comparable Monthly Performance Source: Bloomberg Figure 2. Monthly Issuance Levels Source: Bloomberg Figure 3. Monthly Credit Floating Rating Note Issuance Levels Source: Bloomberg Figure 4. Monthly Buyback Levels Source: Bloomberg Figure 5. Historical Sector Weightings Source: Bloomberg Figure 6. Credit Quality Composition Source: Bloomberg Note: BBB includes BBB+, BBB and BBB-
Click here to access the BondAdviser Ratesheet as at 29th June 2017.
As a rule of thumb, we consider Major Bank Tier 2 securities as one of the best risk-adjusted capital investment for investors due to their superior capital structure ranking, non-discretionary interest payments and event of default terminology. Historically, while the retail (listed) Tier 2 market increased post-GFC, there was uncertainty among investors in the wholesale (over-the-counter) market regarding the premium associated [...]
As largely anticipated, the Federal Reserve two weeks ago raised US interest rates for the fourth time since the Global Financial Crisis (GFC). In addition to the rate hike, the Federal Open Market Committee (FOMC) also announced it “intends to gradually reduce the Federal Reserve's securities holdings by decreasing its reinvestment in the System Open Market Account.” This indicates the [...]
At the end of May 2017, sandalwood farming company Quintis Limited (ASX: QIN) was downgraded by Standard & Poor’s into the rarely seen ‘C’ section of the credit rating spectrum indicating immediate danger of credit default. Quintis (which formerly traded as Tree Management Services) is the world’s biggest owner and manager of Indian sandalwood which is a timber used in [...]
Click here to access the BondAdviser Ratesheet as at 28th June 2017.
Click here to access the BondAdviser Ratesheet as at 27th June 2017.
Click here to access the BondAdviser Ratesheet as at 26th June 2017.
Following a relatively benign week in financial markets, broad market indices finished largely unchanged. Long term interest rates continue to trend sideways as investors look at data affecting inflation expectations. Capital markets are expected to remain fairly quiet this week as the financial year end approaches. For credit markets, trading margins continue to grind tighter against an accommodative technical environment. [...]
Click here to access the BondAdviser Ratesheet as at 23rd June 2017.
An employee-owned financial services provider focused on the Debt Capital Markets.
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.
