Moody's Spanish upset

Global financial markets were reportedly upset by Moody's placing the 'Aaa' rating that it assigns to Spain on review for possible downgrade. This could hardly have come as a surprise. read more

Five-year market reopens for Westpac

Westpac launched and priced a A$800 million, five-year bond issue yesterday at a margin of just 135 basis points over bank bills/swap. At 135 bps, the indicative margin is just a little wider than w.. read more

Bank levies may yet fill budget holes

The events of last week may well prove to be significant for global banking, including banking in Australia. In the case of the latter, it is the ascendancy of Julie Gillard to the office of prime m.. read more

Wall St Reform Bill not so tough

US Congressional negotiators have agreed the Wall St Reform Bill, which will now receive Congressional approval this week and is expected to be signed into law by President Obama on or before July 4.. read more

ME Bank reopens offshore market for RMBS

Two new securitisation deals were launched late on Friday, one of them being the first mortgage-backed bond pitched at European and Asian investors since a St George deal in June 2007. read more

NAB wins the prize for market timing

Issuance volumes continued to build in the domestic corporate bond market last week. Triple A rated agency issuers, KfW and Kommunalbanken were active, with the former pricing a A$250 million increa.. read more

Refinancing risk returns to CMBS

Refinancing risk has become a reality for another issuer of commercial mortgage-backed securities. Becton CMBS No.1 Pty Ltd has a scheduled maturity date of 18 July 2010 and a final maturity date of.. read more

Moody's negative on Westpac LMI

Some three weeks after Fitch and S&P assigned 'AA/Stable' and 'AA-/Stable' insurer financial strength ratings respectively to Westpac Lenders Mortgage Insurance Ltd, Moody's followed with the as.. read more