With the spotlight on lower term deposit yields we thought it worth focusing on their liquidity . Essentially, term deposits can be broken before maturity with the issuing bank. There is no broad market determining the price, just a single bank and their deposit pricing systems. The following is a real life example as at 11th May, 2015: Term deposit with major bank yielding 3.3% [...]
After a 39.4% decline in gaming revenue for the month of March and a 35% fall over the first 3 months of the year, the Gaming Inspection and Coordination Bureau of Macau reported a 38.8% year on year decline in gross gaming revenue in April, the 11th consecutive monthly decline. In the first 4 months of 2015, Macau's gross gaming [...]
Over the past week ANZ, NAB , WBC and Macquarie have all reported their half year results and CBA provided a quarterly update. The theme is consistent across issuers with cash earnings remaining strong (although below inflated expectations), asset quality remained relatively stable (with the exception of a couple of outliers) but the key theme has been an increase in [...]
On April 30th, 2015, Transurban issued a press release regarding the Victorian Government announcement that it will progress Transurban's proposal to deliver a new Melbourne motorway (called the Western Distributor), which will provide an alternaive to the West Gate Bridge and will keep trucks off the city's inner west. On the same day, Standard & Poor's (S&P) announced that it [...]
BondAdviser is an independent investment research company that specialises in bonds and fixed income securities. We provide investors, advisers, brokers and institutions with research, data, education and tools to help them invest intelligently. Our service is delivered online via an easy-to-use portal. At BondAdviser, our goal is to lift the lid on the fixed income market so that more investors [...]
Last week, the credit rating agency S&P placed eight iron ore miners, including BHP Billiton, on negative credit watch after it revised its three-year price predictions for iron-ore, the main commodity used in steel-making. Table 1. S&P revised Iron-Ore price expectations (in USD per metric ton) 2015 2016 2017 Before 65.00 65.00 70.00 Revised prices 45.00 50.00 55.00 At the [...]
It was a quiet news week in terms of fundamentals for fixed income markets but economic and technical news continues to flow. Over the past week we have had a very large new issue from ANZ (AUD$2.5billion), minutes released from the US Federal Reserve FOMC meeting, implications from the iron ore price collapse and the AOFM selling their first inflation linked [...]
Over the past few weeks the primary market has seen a flurry of activity with 5 different issuers coming to market. These securities are all different in structure, credit risk and trading terms. At BondAdviser we keep a close eye on the factors driving issuance and give users easy access to monitor the secondary market performance of these securities when [...]
It’s been a quiet few weeks for the Primary Issue Market in the listed space whilst the traditional Wholesale Bond Market continues to see new issuances from repeat and first time issuers. The domestic banks have been very active, accessing funding in Europe over the past few weeks. Coming off the back of a period of volatility, we expect the [...]
There has been a definite drop in turnover this week with sellers beginning to back off and buyers returning to the asset class. Feedback I am receiving from our private bank clients suggests they are unsure where to invest their funds following the quite severe downturn in equities, negative press surrounding hybrids and cash rates continuing to decline. Those investors [...]
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An employee-owned financial services provider focused on the Debt Capital Markets.
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This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
