There continues to be evidence to support the Jamieson Coote Bonds team's thesis that investors should be re-assessing their portfolio construction and risk allocations to avoid unintended heightened bank/financial related exposure. JCB's approach is one that diversifies investors away from such exposures whilst providing a cornerstone defensive portfolio allocation. These bank/financial related exposures include the likes of Australian Bank shares, hybrids, negatively geared property, term deposits, corporate credit and cash at bank.
JCB Monthly Snapshot
(1) S&P downgrades the Australian financial system as property prices fall nationwide in May;
(2) Hybrids cut to junk as S&P do not expect the Government to support major bank names;
(3) David Copperfield (not the illusionist) calls the outlook from 1849;
(4) Obstruction of Justice or Obstruction of Greatness?
(5) Observations of buyers and sellers in Australian Govt Bonds.
Read more via The JCB Monthly Insights update here
Angus established Jamieson Coote Bonds with Charlie Jamieson in 2014. He started his career with JPMorgan in London, before working at ANZ and Westpac, where he transacted the first ever Australian Bond trades for several large Asian Central Banks.