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Fixed Income

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

Fixed Income

A Chance to Reset in Debt

It’s often said of investing that a rising tide lifts all boats. However, this isn’t always true and the uneven bounce back in debt markets in the last two weeks has...
Jonathan Rochford
Narrow Road Capital
Fixed Income

There is no easy end to this

While markets try to look through 'peak virus' to a quick recovery, we believe that until we get a vaccine, or we get a herd immunity as a people, the virus is going...
Charlie Jamieson
Jamieson Coote Bonds
Fixed Income

Metrics portfolio update and market outlook

Andrew Lockhart, Managing Partner of Metrics Credit Partners, recently provided an update on the Metrics portfolios and the current Australian loan market conditions...
Metrics Credit Partners
Fixed Income

Maximising returns in a bond portfolio: Taking advantage of non-linearity is the key.

One of the key strategies employed within fixed income portfolios to add value is the maximisation of ‘carry and roll’. The successful utilisation of this strategy...
Clive Smith
The Rules of Investing

Navigating the COVID crisis

One of the biggest questions on many investors’ minds in recent weeks has been, just how bad will the economic contraction be? But Chris Rands, Portfolio Manager for...
The Rules of Investing
Livewire Markets
Fixed Income

The RBA’s buying spree

The RBA has been buying up big, purchasing around $36bn in government and semi-government bonds throughout March. But when is enough, enough and can these efforts...
Nikko AM
Nikko AM
Nikko AM
Fixed Income

Buying time to sell − fixed income spreads come under fire

Fixed income is marketed to investors as a defensive asset class, as a general rule offering principal and income security combined with liquidity. That is the major...
Charlie Jamieson
Jamieson Coote Bonds
Fixed Income

Challenger commits to calling CGFPA hybrid

Challenger’s shortest dated hybrid, the $345 million Challenger Capital Notes (ASX: CGFPA), which has its call or repayment date coming up on 25 May 2020, has been...
Christopher Joye
Coolabah Capital
Fixed Income

Hybrid market developments

Since the ASX hybrid markets' all-time record 6.46% flash-crash on Monday, which was triggered by a completely incorrect news report that NAB had bailed-in its NABPC...
Christopher Joye
Coolabah Capital
Fixed Income

3 areas of the market that look cheap

There are two factors driving markets today, fundamentals and technicals. Fundamentally, the global economy is increasingly in shut down mode. This is temporary and...
PIMCO .
PIMCO
Fixed Income

No, NAB did not bail-in NABPC hybrid holders into equity...

There was an enormous amount of completely erroneous reporting, and resultant confusion, on NAB's repayment of the $1.34 billion owing under one of its hybrids...
Christopher Joye
Coolabah Capital
Fixed Income

RBA tries to calm markets

In response to the coronavirus epidemic, the RBA cut the cash rate on 19 March to 0.25% and announced a number of QE measures. In the long run, will the government’s...
Nikko AM
Nikko AM
Nikko AM
Fixed Income

When the economy stops

The world has never been as globalised and interconnected as it is today, so when a pandemic such as COVID-19 hits, it’s an enormous challenge to contain. Government...
Jay Sivapalan
Janus Henderson
Fixed Income

Is the worst-case scenario already in the price?

The bond market has a reputation for seeing what is coming before other asset markets begin to adjust. While equity markets embarked upon a feverish rally in January...
James Marlay
Livewire Markets
Fixed Income

More Write-downs and Forced Sales are Likely

The brutal hits taken by Australian equities (-10.9%) and hybrids (-6.9%) this week were obvious to anyone who picked up a newspaper. What might have been missed is...
Jonathan Rochford
Narrow Road Capital
Fixed Income

Hybrids vs equities in a time of crisis

In this time of crisis, it is useful to reflect on some hard data on where we are today, where we have been in the past, and what that can tell us about the future. In...
Christopher Joye
Coolabah Capital
Fixed Income

High-yield in name only?

During February, global high-yield bonds and US investment-grade debt were trading at record low yields as the bond market’s prolonged bull run continued into...
Shan Kwee
Janus Henderson
Fixed Income

Recession risks are very real

Central banks have taken some significant steps against the impact of coronavirus recently, with the RBA having cut 25 points already and the Fed cutting 50 points...
PIMCO .
PIMCO
Expert Insights

Think twice about who you chase for yield

One of the biggest concerns for Ronald Temple of Lazard Asset Management is that in the desperation to boost yield, investors may be taking risks that they do not...
Livewire Exclusive
Livewire Markets
Fixed Income

Income investing when yields collapse

Falling yields were already one of the biggest challenges facing retirees seeking investment income, but the dramatic impacts of COVID-19, which have seen bond yields...
Alex Cowie
Alex Cowie
Fixed Income
Sponsored

Now is the time to get the balance right

In February of this year, the ASX200 plunged by -7.7%. As a clear demonstration of the protection global high-grade sovereign bonds aim to provide, the CC JCB Global...
Livewire Exclusive
Livewire Markets
Expert Insights

Where to find truly uncorrelated returns

For several decades now, the correlation between asset prices has generally been increasing. Whether this is caused by globalisation and the free transfer of...
Livewire Exclusive
Livewire Markets
Fixed Income

Coronavirus special podcast episode

Our latest Complexity Premia podcast episode is now live (you can listen on your favourite podcast app, or you can find it on Apple Podcasts or Podbean). In this...
Christopher Joye
Coolabah Capital
Fixed Income

The ramifications of QE in Australia

It may seem misplaced to discuss the likelihood of unconventional monetary policy in a country that has registered only three quarters of negative GDP growth in the...
Daniel Siluk
Kapstream
Fixed Income

Real estate bright spots amid coronavirus uncertainty

As the Coronavirus fear grows its footprint, uncertainty is taking its toll on markets. As real estate investors, we see both opportunities and threats on the horizon....
Andrew Schwartz
Qualitas
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