Ratings check on Macquarie buyback 07 November 2011 6:02PM One brake on the planned buyback by Macquarie Group of 10 per cent of its shares, announced at the end of last month, will be the effect on its credit ratings. Two ratings agencies published caution.. read more
ANZ and CBA make most of domestic debt market 24 October 2011 5:56PM Opportunities to sell term debt in the domestic market opened up late last week on terms reinforcing the spread banks need to pay to raise wholesale funds. But while this is a little wider than a fe.. read more
Unrated Woolworths notes lack institutional appeal 24 October 2011 5:52PM Woolworths launched an offer for subordinated, and ASX-listed, debt last week. Aimed largely at retail investors, the notes will pay a margin of between 3.25 per cent and 3.50 per cent over the 90-d.. read more
RMBS skips along 17 October 2011 5:48PM The Australian Government still has around A$6 billion to invest to support the purchase of residential mortgage-backed securities, the Australian Office of Financial Management's annual report show.. read more
Banks turn to RMBS as wholesale funding costs rise 06 October 2011 5:58PM Amid all the conjecture over the monetary policy outlook in Australia, and talk of cuts in the cash rate target, there is little focus on the outlook for rates that borrowers will pay at a time of w.. read more
NZ sovereign debt downgraded twice 03 October 2011 5:57PM Timing, as they say is everything, but there is a certain irony in the confluence of events in New Zealand at the end of last week, with a record bond tender announcement coming just a day before NZ.. read more
Default swaps follow strange track 28 September 2011 4:01PM Are the risks attached to the probability of liabilities repayment by major Australian banks much worse at the end of September than at the end of June as pricing on credit default swap spreads sugg.. read more
Social bonds trialled by NSW 06 September 2011 4:48PM Hot on the heels of the NSW government's launch of Waratah bonds for mum and dad investors last week comes the news that the Treasurer, Mike Baird, will announce the introduction of "Social Benefit.. read more
CPS3 rushed, who gives a Waratah? 31 August 2011 4:41PM Retail investors get very few opportunities to invest in bonds. Bond investment is largely restricted to institutional investors in Australia, who can choose among more than 1,100 individual issues.. read more
Narrow pricing on ANZ hybrid 29 August 2011 4:42PM The mismatch in the approach of banks, as borrowers, to retail and professional investors is getting a workout this week, courtesy of marketing for ANZ's latest convertible preference share issue (C.. read more