Making the implicit explicit 17 November 2008 5:24PM It is not surprising that the Australian government's plans to regulate the rating agencies, announced last week, were welcomed by the rating agencies. Despite the tough sounding rhetoric that went wi.. read more
More bond issuance and internal securitisations in New Zealand 17 November 2008 5:23PM The owner and operator of New Zealand's electricity transmission grid, Transpower, raised NZ$50 million for eleven years in their domestic corporate bond market. The margin on the bonds was reportedly.. read more
Playing catch-up with credit ratings 17 November 2008 5:22PM Standard & Poor's responded quickly to St George shareholders approving the merger of their bank with Westpac, by equalising the credit ratings assigned to St George with those assigned to Westpac.. read more
NZ corporate bond market runs hot: Australian bond market still frozen 10 November 2008 5:34PM There was NZ$295 million of corporate bonds sold in the New Zealand market last week, which made for the largest week of issuance there since Queensland Treasury Corp topped up its September 2017 kaur.. read more
Bring back the (trail) blazing COMMETS 10 November 2008 5:33PM The New Zealand corporate bond market stands out as one of the few that has continued to function throughout the crisis. This raises the interesting question of why this is so. The answer appears to l.. read more
Money markets priced for a recession 10 November 2008 5:31PM Conditions in money markets have been easing over the last few weeks with the TED spread (the difference between the interest rates on interbank loans and short-term US government debt) now down to 20.. read more
Credit outlook no longer favourable even for miners 10 November 2008 5:29PM Standard & Poor's lowered the long-term credit rating assigned to Boral Ltd to 'BBB' from 'BBB+' at the end of last week, based on expectations of deteriorating financial performance over the curr.. read more
Few may invest alongside AOFM 03 November 2008 5:11PM The Australian Office of Financial Management announced last week how it will spend the first $1.0 billion of its $8.0 billion of funds available for investment in RMBS. read more
Debt becoming very expensive for semis 03 November 2008 5:10PM The liquidation of assets that is now being forced on the fund management industry is no doubt the driving force behind the pricing of semi-government bonds (bonds issued by the state governments), wi.. read more
Monumental rating moves 03 November 2008 5:09PM Monumental Global Funding has had as much as $725 million of bonds outstanding in the domestic market but now has only one $200 million, November 2011, bond remaining. Moody's Investor Service c.. read more