This Month
- Opinion
- Insider trading
What Westpac’s swaps traders were doing that fateful morning
Can Westpac argue that there are different rules in the bond market when it comes to insider trading? First we must understand how the market works.
- Jonathan Shapiro
- Analysis
- Regulation
Westpac’s traders and ASIC slug it out again
ASIC’s latest stoush with Westpac will once again pit the regulator’s idea of breaking the law against the bank’s idea of standard practice in risk management.
- Updated
- Jonathan Shapiro
- Opinion
- Chanticleer
Allegations shine a light on debt markets
The insider trading scandal facing Westpac couldn’t come at a worse time. But it looms as a complicated test of how the complex, hidden world of debt markets and derivatives operates.
- Updated
- James Thomson
Hungry investors dive into record $2b mortgage bond
The Australian residential mortgage-backed securities market is heating up, with a run of deals meeting hot demand from yield-starved investors.
- Richard Henderson
- Opinion
- Inflation
Inflation outlook still clouded
The outlook for inflation remains uncertain following the disappointing first quarter CPI figure however it remains crucial that investors understand the risks associated, says Ardea’s Tamar Hamlyn.
- Tamar Hamlyn
April
- Opinion
- Bonds
The property flywheel spinning the Australian recovery
The HomeBuilder package is an example of fiscal policy at its best, targeting Australia’s aspirational middle class, which has responded in kind. For corporate bond investors, this is more good news.
- Chris Dickman
Housing boom the wildcard as consumers cheer up
Consumers will remain highly optimistic for some time, according to Westpac’s chief economist Bill Evans. But very strong growth in house prices is a cloud on the horizon that could invite regulatory intervention.
- Sarah Turner
Bonds signal inflation repricing over for now
Bond markets unexpectedly strengthened after another batch of solid economic data from the US, in a sign that this year’s rapid repricing of inflation expectations may be over for now.
- Sarah Turner
- Opinion
- Bonds
Huarong contagion can be contained
Huarong’s long involvement in the local distressed debt market means its fate is tightly intertwined with local companies and banks. Broader sell-offs in other Asian markets should be short lived.
- The Lex Column
China Huarong’s worsening bond rout stokes market contagion
Bonds linked to the company have plunged this month after China Huarong failed to publish its 2020 preliminary results by the March 31 deadline.
- Richard Frost and Rebecca Choong Wilkins
Upbeat Fed does little to soothe inflation worries
Federal Reserve chairman Jerome Powell says the US economy is set to boom, with the upbeat forecast made just days after the release of strong US producer price data.
- Sarah Turner
- Opinion
- Bonds
‘Giddy’ government spending means inflation threat is real this time
The response to the coronavirus means the concept of modern monetary theory, where there is seemingly no limit on the amount of money governments can print and their central banks can buy, has become (un)official policy, and all asset prices are having to adjust.
- Mark Tinker
- Opinion
- Monetary policy
Is inflation coming? Let’s start with a cup of coffee
The story for 2021 will remain one of inflation concerns globally. As the humble coffee proves, fears of a medium-term inflation breakout must centre on labour and rental costs, not the temporary swings we are likely to see this year in supply chains.
- Vimal Gor
Falling bond yields ease pressure on RBA
The drop in the yield on Australian government debt has taken pressure off the central bank to bolster its bond-buying program and pushed local tech shares to their best day since July.
- Richard Henderson
Aussie 10-year bond rate to hit 2pc
Economists say the rise in long-term bond yields is not over. The less central banks do now, the more they’ll have to do later, they argue.
- Jonathan Shapiro
Buffett’s Berkshire Hathaway returns to yen market with bond
Berkshire Hathaway is offering yen notes for a third straight year, targeting a four-part yen deal that may price on Thursday.
- Finbarr Flynn and Issei Hazama
March
US bond yield rises to 14-month high
A perfect storm of optimism about the US economic outlook is luring investors into US government debt.
- Timothy Moore
Capital markets breather for Australian companies
Capital raised in stock and bond offerings in the first quarter of the year fell, following a spike in issuance during the recession last year.
- Richard Henderson
Pengana Capital to launch private credit fund
Pengana Capital is priming a new fund that will give Australian investors access to the booming market for private credit.
- Richard Henderson
Australia won’t follow NZ down housing tax path
The federal government is facing different challenges, none of which are related to housing affordability.
- Sarah Turner
