In Australia, the fixed income market, especially the exchange-traded part that is available to retail investors, is dominated by well-established, household name issuers such as the major banks and other large financial services companies. Whilst retail investors are usually quick to identify an issuance from a household name issuer, many, if not all, tend to overlook a fundamental question: Who [...]
Please find below details and links to documents regarding the launch of BondAdviser’s Additional Tier 1 (AT1) Capital Instrument Index. This index series is designed to accurately reflect the performance of the ASX-listed AT1 hybrid market. The main parent index is the BondAdviser Additional Tier 1 Capital Instrument Index. From this, two sub-indices are derived, namely the Major Bank Additional [...]
Look-through earnings was a concept widely attributed to legendary investor Warren Buffet, famed for his ability to value companies and achieve exceptional returns. The idea behind “look-through earnings” is that an investor should not just look at a company’s reported accounting earnings, but instead analyse earnings from subsidiaries and associated parties that would flow through to shareholders in the form [...]
U.S. Federal Reserve chairman Jerome Powell loves an interest rate hike and is planning several of them. The recently-appointed Fed Chair is bullish on global economic health, stating that “the economy has strengthened” and in his view “inflation is moving up to target”. Direct statements like these from the moderate Republican have global markets pricing in 3-5 rate hikes in [...]
Since March this year, the benchmark local borrowing rate for Australian banks – the Bank Bill Swap Rate (BBSW) has risen sharply from ~1.80% to over 2.00% as we type, reflecting higher bank funding costs. In the meantime, USD funding costs as represented by the London Interbank Offer Rate (LIBOR) have also risen significantly, after surpassing BBSW since January this [...]
Over recent weeks, we have seen U.S. President Donald Trump introduce his latest protectionist policy by placing import tariffs on steel and aluminium on various countries, most notably, China. The imposition of a 10% tariff on aluminium and 25% on steel led to global outcry from numerous trade partners and forced the Trump administration to grant exemptions for certain countries [...]
Tabcorp recently announced that it had successfully priced US$1.4 billion long-term notes to investors in the US Private Placement (USPP) market. The placement comprises four USD and two AUD-denominated tranches, with maturities evenly spaced between 8 – 18 years. The notes will be issued in June 2018. All USD proceeds will be swapped into AUD, resulting in total AUD proceeds [...]
CBL Insurance (CBL) is the largest and oldest provider of credit surety and financial risk insurance in New Zealand and has been operating for over 40 years. CBL provides a range of property-related insurance and reinsurance products. Although based in New Zealand, it has an extensive international presence in Europe, Malaysia and Latin America. CBL is not rated by the [...]
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.
