Week in review
The iTraxx is a measure of volatility, when the index increases so too does the markets’ perception of risk. It was a volatile week with risk assets recording large losses across the board
Week in review
There was a lot of news over the week: the RBA held the cash rate at 2% and the AUD rallied to a seven week high against the USD. Overseas, the ECB announced it will extend its QE program by another six months and US employment data was released with figures as expected. In trading, Praeco bonds were made available to retail; subdebt continues to attract demand and good supply in Bluescope 2018 USD bond saw consistent buying from investors
Week in review
Last Thursday, Australia’s official unemployment rate fell from 6.2% to 5.9% and government bond yields were higher over the week. In trading, two new primary issues means that supply of FIIG originated bonds at attractive levels is good
Week in review
The RBA kept rates on hold last week, reducing market expectations of a rate cut this calendar year. Whereas, in the US a future rate raise is supported by the positive employment figures released on Friday night. The AUD fell on this news while government bond yields moved higher. In trading, ANZ’s recent capital raising at good margins has forced other subordinated debt to reprice
Week in review
Domestic inflation figures were weaker than expected, the US Fed kept rates on hold and the Bank of Japan released its monetary policy statement. Locally, the AUD was lower based on inflation news and our government bond yields also declined. Popular trades included, inflation-linked bonds and the foreign currency bonds from BHP Billiton Finance Ltd
Week in review
Last week, the ‘big 4’ banks increased their variable mortgage rates, to compensate for higher capital requirements due to be implemented mid-2016. Yields finished marginally lower, with government bonds down at 1.82% and 2.61% for the 3 year and 10 year respectively. In trading, the highlight was BHP Billiton bonds with four out of five lines added to the DirectBonds list
Week in review
We have added the BHP Billiton USD hybrid issues to the DirectBond list. The two USD lines are a part of the renowned mining, metals and petroleum company’s issue of the largest corporate hybrid in 2015 to date. On the trading front, supply remains good in the Asciano floater and Sun Group fixed rate bonds as high quality investment grade options. While popularity in trading BlueScope and Barminco USD bonds continues
Week in review
Commodity prices continued to fall last week with worries about Glencore contributing to a $55 billion ASX sell-off. The AUD followed, falling below 70 US cents last Tuesday. The Integrated Packaging Group (IPG) new issue began trading in the secondary market
Week in review
Switches out of existing FIIG originated bonds into new Axsesstoday, Integrated Packaging Group and PMP, mean we have good supply in other FIIG bonds. Key highlights in markets were: a revision for US GDP, Volkswagen’s emissions scandal, Tsipras’ party returns to Greek parliament and the AUD was down, once again
Week in review
Last week’s most important news arrived late on Thursday night when the Fed left rates on hold in the US – we summarise the response from markets. In FIIG deals, two new bonds, both maturing in 2019, have become available to retail investors – the Coffey floater and 360 Capital fixed rate bond