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Fixed Income

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

Fixed Income

Don’t fear negative yielding bonds in a portfolio

High grade sovereign (or government) bonds remain as relevant as ever in an uncertain and complex market environment. Today’s bond yields are indeed low, and some...
Charlie Jamieson
Jamieson Coote Bonds
Fixed Income

The sweet spot of credit

Even before the COVID-19 pandemic rocked global financial markets, Australia was on its way to join the lower yield world. Now, Australian investors in search of...
Samantha Milner
Ares Wealth Management Solutions
Fixed Income

Tubthumping (I Get Knocked Down)

More commonly remembered by its lyrics, the 1997 song ‘Tubthumping’ by British band Chumbawamba topped charts globally, becoming an international hit. The single was...
Kapstream Capital
Kapstream
Fixed Income

Year to date bond issuance

After somewhat of a slow start to the year, bond issuance has gathered momentum. While this has been mainly led by governments and financial institutions issuance,...
Asmita Kulkarni
Asmita Kulkarni
FIIG Securities
Fixed Income

Australia remains cheap and steep

Ground hog day continued in markets over July, with many countries experiencing stop, start, stop outcomes on Covid-19 progress. Countries that are targeting...
Charlie Jamieson
Jamieson Coote Bonds
Fixed Income

Is Anyone Crazy Enough to Lend to Argentina?

In June 2017 Argentina sold US$2.75 billion of 100 year bonds and I wrote then that “Argentina is unlikely to get through a decade without defaulting let alone 100...
Jonathan Rochford
Narrow Road Capital
Fixed Income

Is Australia ready for more monetary stimulus?

With Aussie bonds in high demand across the world, a growing demand for a more aggressive fiscal response from the Australian government, and a rise in COVID-19 cases...
Darren Langer
Yarra Capital Management
Fixed Income

Why use a multi-manager framework in fixed income portfolios? Risk management is the key

The utilisation of multi-manager frameworks is often criticised as detracting from returns. However, focusing on return maximisation ignores the inherent uncertainty...
Clive Smith
Fixed Income

Trials and tribulations of trading

In the AFR today I write that while the life of an investor/trader can be stimulating, it is also stressful. The active investor is effectively betting that the...
Christopher Joye
Coolabah Capital
Fixed Income
Sponsored

Seeking to solve the dual needs of income and capital stability

As investors contend with record low rates and significant cuts to shareholder dividends, savvy managers are creating investment solutions that meet the dual investor...
Livewire Exclusive
Livewire Markets
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. ...
+5
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
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