KfW kangaroo no bounder 27 April 2009 4:54PM It was a very quiet week for issuance activity in domestic debt markets. The highlight of the week would have to have been the return of kangaroo issuer and German state agency, KfW, with a $150 milli.. read more
Rising bond yields may drive corporate bond market recovery 27 April 2009 4:53PM Government bond yields and term interest rates have been rising globally over the last month or so as the risk appetite of investors has increased, as reflected in rising equity markets. The other dri.. read more
April bond issuance light but May should be better 27 April 2009 4:53PM April has been the weakest month for issuance in the domestic market with only $1.6 billion of corporate bonds issued to date. This compares with an average of around $8 billion in each of the first t.. read more
Structural issues may inhibit bond market revival 27 April 2009 4:52PM The optimistic outlook for the Australian corporate bonds explained in the preceding article assumes that financial markets generally are entering a recovery phase; but it seems too early to be making.. read more
Being acquired can improve credit quality 27 April 2009 4:49PM Kirin Holdings' bid to buy the 54 per cent of Lion Nathan that it does not already own prompted Moody's Investor Service to place Lion Nathan's 'Baa2' long-term credit rating on review for possible up.. read more
Rating agencies cut CIT and credit wrappers 'AAA' or bust 27 April 2009 4:48PM CIT Group (Australia) Ltd. has $300 million of March 2011 bonds on issue in the domestic market. Its US parent, CIT Group Inc., reported a first-quarter loss of US$505 million on Thursday, twice what.. read more
More on the true cost of term deposits 20 April 2009 4:37PM We were intrigued to see a media release from the Australian Bankers Association last week addressing bank interest margins and funding costs. Apparently the ABA felt the need to clarify the situation.. read more
Nine mortgage funders supported by AOFM 20 April 2009 4:36PM The Australian Office of Financial Management announced the beneficiaries of its next three RMBS mandates on Friday: Members Equity Bank; FirstMac Limited; and Resimac Limited. read more
A positive tone in RMBS 20 April 2009 4:36PM A more positive tone also appears to building in the market for mortgage-backed securities, but perhaps not quite to the same degree. read more
Rabo seeks hybrid capital 20 April 2009 4:35PM In New Zealand, Rabobank Nederland has flagged its intention to issue a hydrid Tier 1 capital security via a portfolio investment entity (PIE). The PIE structure confers tax advantages on retail inves.. read more