To guarantee or not to guarantee 09 June 2009 4:46PM It was interesting to observe Mike Smith, CEO of ANZ, come out last week and call for the abolition of the government guarantee for bank debt. In fact, Smith called on all governments to scrap the gua.. read more
ABS defaults increasing 09 June 2009 4:45PM Moody's Investor Service released its first Australian ABS Performance Review last week. This is a new quarterly publication commenting on trends in the ABS market as well as providing detailed perfor.. read more
Let's go to Rio 09 June 2009 4:44PM The rating agencies all reacted favourably to Rio Tinto's dumping of Chinalco in favour of a US$15 billion rights issue and iron ore joint venture with BHP Billiton. S&P placed the 'BBB' long-term.. read more
May a watershed month 01 June 2009 4:50PM May 2009 may have been a watershed month for the recovery of the domestic corporate bond market. This is not to say that the market has recovered, which it certainly hasn't, but some clear signals eme.. read more
Bond issuance down in New Zealand 01 June 2009 4:49PM It appears that Bank of New Zealand is preparing to follow Westpac Securities NZ with a government guaranteed, US dollar denominated, bond issue. Reuters reported that the bank expected to issue US$75.. read more
Supply fears not apparent in Australia 01 June 2009 4:48PM While Australian bond yields have risen largely in tandem with US bond yields, supply issues don't seem to be overly concerning investors. Yields on 10-year Commonwealth government bonds peaked last w.. read more
Supply torrent drives government bond yields 01 June 2009 4:48PM The big concern for markets last week was rapidly rising government bond yields. This was most prominent in the United States where a US$3 trillion plus budget deficit needs to be funded this year. read more
NZ budget receives tick of approval 01 June 2009 4:47PM New Zealanders learnt last week that they are going to be in deficit for the better part of the next decade and that their government's net debt will peak at 43 per cent of GDP in the 2016-17 fiscal y.. read more
Non-conforming 30-day delinquencies stabilising 01 June 2009 4:46PM In analysing Australia's non-conforming securitised mortgage pool, Moody's Investor Service concluded last week that signs of stabilisation are appearing across most issuers for the 30 days past due d.. read more
Liberty Financial requests withdrawal of servicer ratings 01 June 2009 4:45PM In what is clearly a sign of the times, Moody's announced on Friday that it had been asked by Liberty Financial Pty Ltd., to withdraw its primary and special Servicer Quality ratings. Liberty Financia.. read more