News

Fallout from the Credit Suisse takeover by rival UBS continues as that merger nears completion with regulatory approval expected by the end of this month. According to an AFP report, Switzerland’s justice authorities had received 230 complaints in relation to regulators deciding to cut the value of high-risk Credit Suisse...

VanEck has announced a new ETF which will list on the Australian Securities Exchange (ASX:TBIL) and will allow Australian investors to access short-term US Treasury bonds. The VanEck 1-3 Month US Treasury Bond ETF (TBIL) invests in a portfolio of US dollar denominated Treasury Bills issued by the US Government...

The Commonwealth Bank of Australia has announced a new Tier 1 hybrid security, CommBank PERLS XVI Capital Notes. The offer is expected to raise $750 million but could be more or less than that figure. PERLS XVI are expected to commence trading on 13 June, 2023 under the ASX code...

Australia’s national debt continues to grow at a frenetic pace, rising 4.6% in 2022 to a record of A$1.45 trillion according to Janus Henderson’s 2023 Sovereign Debt Index. Government finances across the globe were subject to dramatic changes in 2022 and 2023, and Australia has been no exception. By the end of last year,...

From Seema Shah, Chief Global Strategist, Principal Asset Management The Consumer Price Index (CPI) for April showed that headline inflation continues to moderate, dipping below 5% for the first time since April 2021. Headline CPI is now below the Fed funds rate, reducing the need for additional Federal Reserve (Fed)...

The Australian Office of Financial Management announced on Wednesday following the release of the 2023-24 Budget, that based on Budget forecasts, issuance of Treasury Bonds in 2023-24 is expected to be around $75 billion. Issuance of Treasury Indexed Bonds is anticipated to be between $2 and $4 billion. In 2022-23, issuance...

Apple Inc has gone to the US blue-chip bond market early this week, in what is seen as a move by a number of borrowers to raise cash ahead of important inflation readings which are due during the week. The most valuable company in the US sold bonds in a...

Over the last week, both NAB and ANZ launched new bond issues. NAB issued a bumper A$5.25 billion. It came to the market last Thursday with four tranches, all ranked senior unsecured, a fixed and a floating maturing in three years and a fixed and floating issue maturing in five...

Greg Wilensky, Head of US Fixed Income at Janus Henderson Investors commented on the Fed's latest rates decision. The Federal Open Market Committee’s (FOMC) 25 basis-point hike today was broadly in line with market expectations. Notably, the Fed softened its language on the potential for future rate hikes, by omitting a...

Comments from Erik Weisman, Chief Economist and Portfolio Manager, MFS Investment Management There are three major considerations that impose a challenge to the Fed this month. First, it looks to me like economic activity is slowing. There are signs of weakening in the hard data. Second, things that rhyme with inflation look...