An underperforming domestic money market 27 October 2008 5:52PM Conditions in global money markets continued to ease last week although one could be excused for thinking the picture was not quite so clear here in Australia, but then it often depends on what measur.. read more
On balance sheet RMBS creation reaches $120 billion 27 October 2008 5:51PM On 8 October the Reserve Bank relaxed restrictions on the type of RMBS it would accept for repo transactions, with related party RMBS becoming acceptable. Previously, and apart from exceptional circum.. read more
Short selling in the CDS market 27 October 2008 5:51PM While conditions are easing in the money markets the same cannot be said of credit markets and the CDS market in particular. The Aussie iTraxx index closed at a new record wide of 386 basis points on.. read more
Clydesdale goes for covered bonds while Barclays pays for guarantee 27 October 2008 5:50PM The timing of NAB's second RMBS issue for the year coincided with the sale of £1.85 billion of covered bonds by its UK subsidiary, Clydesdale Bank. The bonds are rated triple A by all three rating ag.. read more
Bond issuance continues apace in New Zealand 27 October 2008 5:49PM As flagged a couple of weeks ago, Auckland International Airport announced the sale of NZ$80 million of bonds last week and is now seeking oversubscriptions of NZ$50 million. The bonds, the first sold.. read more
Ratings downgraded for Heritage and ING 27 October 2008 5:48PM A significant increase in debt funded inventory levels at a time of stretched credit markets and an over reliance on short term bank lines to fund its business, prompted Standard & Poor's to revis.. read more
Aussie dollars remain in short supply offshore 13 October 2008 5:50PM Last week saw the Reserve Bank of Australia stun everyone with a full one percentage point cut in the official cash rate to 6.0 per cent. This was quickly followed by a co-ordinated 50 basis points cu.. read more
Scrap prices for Lehman CDS 13 October 2008 5:49PM Holders of the A$600 million of August 2011 bonds issued by Lehman Bros will not be pleased to learn that the settlement of Lehman's CDS on Friday night determined Lehman's senior debt was worth only.. read more
Public sector door wide open to RMBS funding 13 October 2008 5:49PM There were two more innovations over the week in connection with funding options in the mortgage market, and for manufacturers of residential mortgage-backed securities. read more
Kiwi bond market ticking over 13 October 2008 5:48PM The corporate bond market in New Zealand just keeps on going, no matter what (or thanks to a favourable euro basis swap and a flight to quality). There were a further three issues last week, all from.. read more