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Fixed Income

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

Fixed Income

House prices to jump 5% to 10% if RBA cuts after huge APRA rate cut... (and election consequences for bank capital structures)

As very active capital structure investors, we are constantly engaged in repricing the absolute and relative valuation levels spanning preferred equity, subordinated...
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Christopher Joye
Coolabah Capital
Fixed Income

Housing turns from threat to opportunity

Today I argue that Australia is behaving like the indulgent and entitled child of a billionaire, quote my own 8 year old's analysis of what the two political parties...
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Christopher Joye
Coolabah Capital
Fixed Income
Sponsored

Good returns without the volatility

With the backing of a highly experienced team, the Perpetual Credit Income Trust provides investors with access to the entire breadth of the credit market, including...
Livewire Exclusive
Livewire Markets
Fixed Income

The End of the Housing Correction

The latest episode of our very popular Complexity Premia podcast is now live where we discuss: the coming of Aussie quantitative easing (QE); the eruption of...
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Christopher Joye
Coolabah Capital
Fixed Income

No ticking time bomb in Australian BBB bonds

One of the advantages about marketing and managing a corporate bond fund in Australia, is the amount of people we meet which gives us the opportunity to listen to...
Matthew Clunies-Ross
Matthew Clunies-Ross
Artesian Capital Management
Fixed Income

The coming of Aussie QE

This week I argue that while RBA governor Phil Lowe passed with flying colours the controversial intelligence test we pitched him last week (by not cutting the cash...
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Christopher Joye
Coolabah Capital
Fixed Income

Rewriting the central bank rule book on inflation

Central bank policy within the developed world has been marked over the past decade by a systematic failure to achieve pre-set inflation targets. In response central...
Clive Smith
Fixed Income
Sponsored

Expand your fixed-income universe

The Perpetual Credit Income Trust employs an investment style that seeks opportunities within the broadest possible universe, providing diversification while at the...
Livewire Exclusive
Livewire Markets
Fixed Income
Sponsored

MCP Master Income Trust (MXT) Entitlement and Shortfall Offer

The MCP Master Income Trust (ASX:MXT) has generated a return of 5.5% p.a. net of all fees and costs since listing in October 2017 and 5.8% over the 12 months to March...
Metrics Credit Partners
Fixed Income
Sponsored

MXT: An alternative way to access regular monthly income

The MCP Master Income Trust (ASX:MXT) listed in 2017 with the objective of providing income to investors via regular monthly distributions. Since listing, MXT has paid...
Livewire Exclusive
Livewire Markets
Fixed Income

IQ Test for RBA's Phil Lowe...

In my column today I argue that May presents an intelligence test for RBA governor Phil Lowe; explain why the banks are already doing the heavy-lifting for it by...
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Christopher Joye
Coolabah Capital
Fixed Income

Flexing fixed income

For the last decade central banks have done their best to punish savers by cutting interest rates to record lows and buying up government bonds. This has pushed yields...
Kerry Craig
J.P. Morgan Asset Management
Expert Insights

The next domino for Australian housing

While the decline in property prices has been orderly thus far, things could get rough from here, says Charlie Jamieson, Chief Investment Officer at Jamieson Coote...
Livewire Exclusive
Livewire Markets
Fixed Income

Complexity Premia on the Big Credit Rally, the Housing Bust Ending, Unconventional RBA Policy, & Much More...

A big thanks for the incredible interest in our Complexity Premia podcast! Please note that this is nerdy investment content, and not for retail punters. In this...
Christopher Joye
Coolabah Capital
Fixed Income

RBA considers unconventional alternative to cutting cash rate

In the AFR today I reveal that very senior industry participants believe the RBA and APRA are considering a targeted alternative to a cut to the official cash rate,...
Christopher Joye
Coolabah Capital
Fixed Income
Sponsored

The growing interest in Australian listed credit funds

The MCP Income Opportunities Trust (ASX:MOT) is set to debut on the ASX today and is the latest in a growing pool of listed alternative income offerings. The MOT offer...
Livewire Exclusive
Livewire Markets
Fixed Income

Retail is alive and well

So far in 2019, credit markets have been buoyed by the US Federal Reserve’s (Fed) announcement of a pause in its Quantitative Tightening (QT) program and the shift in...
BWP
Ashley Kopczynski
Ashley Kopczynski
Janus Henderson
Fixed Income

Housing bust may be quickly over

Today I write that if the RBA cuts the cash rate by 50bps or more, the housing bust will be over very quickly. We were by far the most accurate house price forecasters...
Christopher Joye
Coolabah Capital
Fixed Income

Everyone has an opinion but does anyone really know?

Bond markets, like the plumbing in your house, tend to only get attention when something goes wrong. That’s what’s happening now as falling bond yields globally and...
Gopi Karunakaran
Ardea Investment Management
Fixed Income

Underdog ScoMo has a shot...

Today I argue that while Labor have given ScoMo a shot of winning the election with its shocking recent mis-steps and its bizarre tax-everything-that-moves-platform,...
Christopher Joye
Coolabah Capital
Fixed Income

The Reserve Bank of New Zealand’s (RBNZ) proposed new capital requirements: Does the cost outweigh the benefits?

In late 2018 the RBNZ proposed implementing some of the most conservative capital requirements globally for the NZ banking system. Ironically these proposed changes...
Clive Smith
Fixed Income

Timing the end of the US cycle

Understanding how the cycle is progressing has been especially difficult in the post-GFC years. The apparent impotence of monetary policy via its traditional credit...
Stuart Dear
Schroders
Expert Insights

Two pathways to performance

Risk assets face an uncertain future as the Fed’s about-turn on monetary policy has left many investors wondering what’s next. However, according to Charlie Jamieson,...
Livewire Exclusive
Livewire Markets
Fixed Income

What credit spreads are telling us

A few quick thoughts on recent credit spread movements in the Tier 2 subordinated bond and the Additional Tier 1 capital hybrid markets. First, the screenshot below...
Christopher Joye
Coolabah Capital
Fixed Income

Five things to know about the corporate debt market

Investors are concerned about the deterioration of corporate debt quality, marked by lower credit ratings and a large share of covenant-lite issuance in the loan...
Kerry Craig
J.P. Morgan Asset Management
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