Insights

Since our last relative value note, spreads have continued to compress in Australian listed bank hybrids. This is largely due to a lack of supply and increase of investors allocating to fixed income. Whilst spreads are compressing, many investors are...

Staying ahead in the investment landscape is key for wealth practices who want to deliver strong returns for their clients, and in turn grow and scale their business. Learn how you can empower your wealth practice with our dynamic fixed...

Movement in spreads Hybrids (or ‘additional Tier 1’ ‘AT1’) as they are often referred to, sit at the bottom of a bank’s debt capital stack and one rung above common equity. They are designed to have characteristics of both debt...

Direct Bonds Activity & Flow As yields have increased, investors are looking more at Fixed Income to provide income and diversify their portfolio. With the many risks challenging the outlook for equities, higher yielding securities are proving attractive ways to...

Fixed Income is continuing to gather increased attention from investors due to uncertainty in equity markets and bond yields reaching their highest levels in the last 10+ years. Some parts of the market have performed better than others in terms...

Australian RMBS is an extremely well performed asset class both in terms of credit performance, but also the return available for the credit risk taken. No tranche of an Australian RMBS has ever passed a loss to bondholders at any...

Banks and Insurers are funded by groups of distinct groups. The bondholders with the least chance of not being repaid should a bank get into difficulty are usually those earning the lowest returns and those with the highest likelihood of...

As was largely expected the RBA yesterday decided to increase the cash rate to 3.35% with a 0.25% increase from their December meeting. There were a couple of key messages in the statement around inflation expectations and future rate hikes.