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 >
19 Jun, 2017

Weekly Highlights

By |2021-09-24T09:38:22+10:00Jun 19, 2017|Market Commentary|

As largely anticipated the Federal Reserve last week raised US interest rates for the fourth time since the Global Financial Crisis (GFC). The FOMC maintained similar rate forecasts for 2017 and beyond (known as the Fed dot plot) which appear to be at odds with market expectations. The key factor to this divergence has been US inflation which has slowed [...]

14 Jun, 2017

Banco Popular: First European AT1 Hybrid (CoCo) Triggered

By |2021-09-24T10:43:38+10:00Jun 14, 2017|Hybrids|

In July 2016, a stress-test conducted by the European Central Bank (ECB) highlighted the “alarming levels of debt” carried by some of Europe’s biggest lenders. Among a few others, Spanish Bank Banco Popular was expected to fall short of capital requirements in a stressed scenario. Reason for failure The bank’s inherent weakness was emphasized when it posted a €3.5 billion [...]

14 Jun, 2017

Investors Push for Cash ETFs

By |2021-09-24T10:43:38+10:00Jun 14, 2017|Deposits, Education|

In the current low-growth, low-yield environment, there is no question investors are finding it difficult to generate short-term returns with an acceptable level of risk.  For this reason, there has been a push for new products that represent an alternative to traditional cash investments (i.e. term deposits). For this reason, ‘Cash’ Exchange Traded Funds (Cash ETFs) have gained traction among [...]

14 Jun, 2017

Noble Group: The Brink of Default

By |2017-06-14T22:49:12+10:00Jun 14, 2017|Case Study|

Over the past few years, Noble Group (SGD: NOBL), once Asia’s largest commodity trader, has experienced a significant decline in profitability following a downturn in the commodities market coinciding with accusations of overstating its accounts. After reporting an unexpected quarterly loss, Noble’s woes deepened when it announced that it may not be profitable until 2019, sparking concerns it would not be [...]