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Fixed Income

The core of any good portfolio, learn about the key themes and opportunities in fixed interest.

Fixed Income

Will debt focused Listed Investment Trusts close the discount?

Will we return to NAV? That is a hard question to answer, but there is still a lot of meat on the bone here – both in terms of capital upside but also cash yield. ...
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Charlie Callan
BondAdviser
Fixed Income

5 reasons hybrids deserve a spot in your portfolio

Australian income investors used to be lucky. From 1980 to the middle of the last decade, they could achieve returns of more than 3% above the rate of inflation simply...
Campbell Dawson
Elstree Investment Management
Fixed Income

In a Crisis, the Quality of Spending and Debt Matters

When an economic crisis arrives, there’s often two key economic arguments that play out. First, how much government stimulus should occur to replace the reduced...
Jonathan Rochford
Narrow Road Capital
Fixed Income

A missed opportunity for many Australians

In Australia, many investors are familiar with cash, term deposits and equities. However, bonds remain less well understood and under-invested, which could...
Robert Mead
PIMCO
Fixed Income

Insight: RBA Open to Lowering 3-Yr Yield Target to 0.10%

By Sophia Rodrigues For the first time since announcing the package of measures on March 19, the Reserve Bank of Australia has opened up the possibility of lowering...
Sophia Rodrigues
Sophia Rodrigues
Central Bank Intel
Fixed Income

Defend and diversify: why bonds are critical in any portfolio

COVID-19 has had many ramifications, including an increase in the number and size of the federal government’s debt programs. While these programs assist people and...
Chris Rands
Chris Rands
Yarra Capital Management
Fixed Income

Australian credit looking more attractive

Over the course of 2019, PIMCO became increasingly cautious on risk assets and corporate credit in particular, since we felt that we were in the later stages of the...
IPL
Aaditya Thakur
PIMCO
Fixed Income

2020 Mid-Year Credit Outlook: Australia

Remission or relapse? Inevitable pain for some as government support is unwound and forbearance runs out. Global markets favour central banks, for now There is no...
Andrew Mayes
Andrew Mayes
Fixed Income

Bond market - V looks W shaped to me

Following on from our assessment a month ago about the likely path of a post COVID-19 recovery, we update the recent macro data and look at bond market options. ...
Jonathan Sheridan
Jonathan Sheridan
FIIG Securities
Fixed Income

4 possible predictions to end the year

2020 has not been an easy year to manage so far, with COVID accelerating our longer term thinking − that many economies would have little choice but to continue to cut...
Charlie Jamieson
Jamieson Coote Bonds
Fixed Income

(Il)liquidity in credit markets

Very few people actually understand liquidity in credit (or non-government bond) markets. Many express opinions on the subject of credit liquidity and, for example,...
Christopher Joye
Coolabah Capital
Fixed Income

A secret weapon for income investors

The World Bank estimates almost 93% of countries will face economic contraction on a per capita basis in 2020 as a result of the pandemic. It is a crisis that has...
Omar Khan
Omar Khan
Freehold Investment Management
Fixed Income

Government bonds are still useful even at the zero lower bound

There’s been a fair bit of commentary recently that because interest rates and yields are so low, government bonds no longer have a role in portfolios. The argument...
Chamath De Silva
Chamath De Silva
BetaShares
Fixed Income

There’s Always Something Interesting Happening in Debt Markets

When most people think about debt markets their first though is boring government bonds and investment grade bonds, which in the current environment will deliver a...
Jonathan Rochford
Narrow Road Capital
Fixed Income

Could Austria’s Century Bond End up like Argentina’s?

In June 2017, Argentina sold US$2.75 billion of 100 year bonds at a yield of 7.92%. At the time I wrote that this was crazy and reflected a desperate chase for yield...
Jonathan Rochford
Narrow Road Capital
Fixed Income

NAB's launches landmark insto hybrid in unlisted market...

NAB has announced an important new BBB- rated unlisted or over-the-counter (OTC) hybrid transaction, which will be the first well-structured, public OTC AT1 hybrid...
Christopher Joye
Coolabah Capital
Fixed Income

A sting in the tail

Is the RBA too concerned with front end rates that are aimed at helping the banking sector at the expense of the taxpayer who, ultimately, will be picking up the...
Chris Rands
Chris Rands
Yarra Capital Management
Expert Insights

How does SME financing work and where does it sit in your portfolio?

In our last two videos Brett Craig of Aura Group covered off the significant funding gap and opportunity in the SME market, and how the sector is adapting to a...
Livewire Exclusive
Livewire Markets
Fixed Income
Sponsored

An alternative asset class for savvy wholesale income investors

Across a series of recent wires on Livewire, Brett Craig of Aura Group explained the emergence of SME debt capital as an asset class and its potential attractiveness...
Livewire Exclusive
Livewire Markets
Fixed Income

The paradox of fixed-income diversification

In the AFR this weekend I argue that one of the most popular yet flawed homilies in fixed-income investing is that diversification is a universally good thing. Whereas...
Christopher Joye
Coolabah Capital
Fixed Income

RBA’s Automatic Stabilizer for MonPol Tightening When Time Comes

The Reserve Bank of Australia recently guided the cash rate to 0.13% and expects it to remain around that level but there’s a reason why it has no plans to reduce the...
Sophia Rodrigues
Sophia Rodrigues
Central Bank Intel
Fixed Income

Careful what you wish for

Is central bank support for corporate bond markets truly unlimited? Our sense is decidedly not. Unlike government bonds, where central bank appetite and capacity is...
Tamar Hamlyn
Ardea Investment Management
Expert Insights

Small businesses and tech-savvy lenders rising up in tough times

Previously Brett Craig of Aura Group outlined the opportunity to generate attractive income in the alternative asset class of SME debt capital. Of course, in strained...
Livewire Exclusive
Livewire Markets
Expert Insights

A quick and easy guide to this emerging income asset class

Investors who have taken a balanced approach to income investing face a bittersweet outlook. On the one hand, the key Australian fixed interest benchmark is up 3.21%...
Livewire Exclusive
Livewire Markets
Fixed Income

The death of cash as an asset-class

In the AFR this weekend I write that super funds have a problem with their pure cash options right now as net returns are approaching zero and starting to turn...
Christopher Joye
Coolabah Capital
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