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Fixed Income

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

Fixed Income

Control your benchmark don’t let it control you!

The large compositional shifts which have occurred within Australian fixed income benchmarks over the last decade have highlighted the limitations in using these...
Clive Smith
Fixed Income

Finding safety and returns in a low interest rate world

In a world where US$17 trillion of bonds trade at negative yields, Australian government bond yields are still high relative to the rest of world. There are very few...
Kate Samranvedhya
Kate Samranvedhya
Jamieson Coote Bonds
Fixed Income

Interest rates: naturally negative?

It is no longer absurd to think that the nominal yield on U.S. Treasury securities could go negative. Earlier this month the German 30-year government bond yield...
Joachim Fels
PIMCO
Expert Insights

Great returns, diversity and a solid risk profile

Since listing 7 months ago, the Qualitas Real Estate Income Fund (QRI) has given investors access to great risk-adjusted returns through a balanced and diversified...
Livewire Exclusive
Livewire Markets
Fixed Income

Magellan's funds management revolution

Today I argue that Magellan will revolutionise the LIC/LIT market with its shift to a commission-free distribution model that we had long advocated and which is...
Christopher Joye
Coolabah Capital
Fixed Income

Negative Bond Yields – A Bubble In The Making?

2019 has been unusual in that both equity and bond markets have rallied strongly against a backdrop of solid economic growth. Commentators have repeatedly cited the...
Brigette Leckie
Brigette Leckie
Koda Capital
Fixed Income

Bonds, like cash, are a safe haven as trade war risks escalate

Markets recoiled last week with increased US tariffs on Chinese goods increasing the all-out risk of a global trade war, where growth slows and just about everyone...
Elizabeth Moran
Elizabeth Moran
Elizabeth Moran Consulting
Fixed Income

Are bonds back in a bubble?

With bond prices going parabolic in the past few weeks (FIG 1), once again market participants are wondering whether the “bond market is in a bubble”. That concern...
Chris Watling
Longview Economics
Fixed Income

Turning Japanese

The Australian fixed income market has enjoyed strong gains over the last twelve months with the benchmark 10year government bond rallying 11.50% YTD and 19.85% over...
Jesse Imer
Jesse Imer
Fixed Income

Is the bond market signalling a recession on the horizon?

The rally in 10-year bond yields over the past six months has seen the spread differential between 10-year and 3-month bond yields fall to -30 basis points....
Chris Rands
Chris Rands
Yarra Capital Management
Fixed Income

Action in bond markets is not what it seems

The conventional explanation from recent moves in bond markets is that global bond yields are collapsing because investors fear a global recession, triggered by the...
Gopi Karunakaran
Ardea Investment Management
Fixed Income

Doubling capital and compound interest

What is compounding? Albert Einstein is reported as saying that compound interest is “the eighth wonder of the world. He who understands it, earns it; he who doesn’t,...
Dean Italia
Dean Italia
Medibank Private
Fixed Income

Houston, we have a problem

The bond market is often seen as the most accurate indicator of what lies ahead for an economy, or at least what investors believe lies ahead. If the current gyrations...
Livewire Exclusive
Livewire Markets
Expert Insights

3 key property market risks to keep an eye on

While the recent rate cuts by the RBA are perceived as an overall positive for the property market, there are still risks investors should remain aware of. Tim...
Livewire Exclusive
Livewire Markets
Expert Insights
Sponsored

Great returns, diversity and a solid risk profile

Since listing 7 months ago, the Qualitas Real Estate Income Fund (QRI) has given investors access to great risk-adjusted returns through a balanced and diversified...
Livewire Exclusive
Livewire Markets
Expert Insights

A warning for yield-hungry investors

With government bonds yielding around 1%, term deposits paying around 2%, and cash accounts often paying nothing, it’s no surprise that investors are looking in...
Livewire Exclusive
Livewire Markets
Fixed Income

Equity markets run on greed, bond markets run on fear

When the opportunity recently came up to sit down with Charlie Jamieson from Jamieson Coote Bonds for a one on one interview, I jumped at it. He always has a strong...
Patrick Poke
A Rich Life
Expert Insights

An unparalleled opportunity to invest offshore

A very rare market dynamic has recently appeared, the likes of which has rarely been seen throughout history. Australian rates and bonds, which have traditionally...
Livewire Exclusive
Livewire Markets
Expert Insights

Attractive yield in a sought-after asset class

The engine rooms of Australian commercial property, the office and industrial markets, have been performing well in recent years, providing investors with handsome...
Livewire Exclusive
Livewire Markets
Fixed Income

Complexity premia on bail-in-able debt tsunami

Don't know what "bail-in-able" debt means? Want to understand why the big banks are going to have to increase the global supply of these securities by almost 40%? And...
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Christopher Joye
Coolabah Capital
Fixed Income

US treasury term premium: pricing for disaster

The term premium is the difference between bond yields for a given maturity and the expected path of short term interest rates over the same period. By examining...
Ken Liow
Realm Investment House
Fixed Income

Bail-in-able debt tsunami lands...

Today I write that the “bail-in-able” debt tsunami we forecast last week did not disappoint with two incredibly large "Tier 2" subordinated bond transactions executed...
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Christopher Joye
Coolabah Capital
Fixed Income

Unquestionably stronger - what TLAC means for investors

One of the lessons learnt from the Global Financial Crisis (GFC) is the challenge governments face when using taxpayer funds to bail out struggling banks. Among the...
Ashley Kopczynski
Ashley Kopczynski
Janus Henderson
Fixed Income

Coming tsunami of bail-in-able debt

This week I outline our analysis of the coming tsunami of "bail-in-able" Tier 2 bonds care of APRA's finalised Total Loss Absorbing Capacity (TLAC) policy, which the...
Christopher Joye
Coolabah Capital
Fixed Income

FOMO rally on fire

This week I reflect on the intensifying FOMO rally driven by the expected search for yield dynamic that has been triggered by RBA rate cuts, the prospect of the Fed...
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Christopher Joye
Coolabah Capital
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