Aurizon Finance Pty Ltd (Baa1/BBB+) is taking expressions of interest for a 7.5-year Senior Unsecured fixed rate bond with price guidance of +225-230bps area, which is a fixed coupon of approx. 6.4-6.45%.
IAM sees this as an opportunity for investors to gain access to an investment grade corporate deal at...
Insurance Australia Group this week announced the offer of Capital Notes 3, seeking to raise A$300 million. The offer is part of IAG's capital management strategy and the proceeds will be used for general corporate purposes.
IAG Capital Notes 3 are perpetual, convertible, subordinated unsecured notes, issued by IAG.
On Wednesday,...
S&P Dow Jones Indices has launched the SPIVA(R) Australia Year-End 2023 report. The report measures the performance of actively managed funds relative to benchmarks over various time horizons, covering equity, real estate and bond funds, and providing statistics on outperformance rates, survivorship rates and fund performance dispersion. In this...
Emma Lawson, Fixed Interest Strategist - Macroeconomics in the Janus Henderson Australian Fixed Interest team, provides her Australian economic analysis and market outlook.
Market Review
Markets pushed back the US Federal Reserve's first interest rate cut, amid consensus of a soft economic landing. This allowed most yields to trade around the...
Three Australian companies have been amongst a host of issuers in capital raisings to get the new year underway.
ASX has priced its inaugural notes issue, an A$275 million issue of floating rate, unsecured medium term notes under its newly established Medium Term Notes Programme. The Notes have a coupon...
The January Consumer Price Index (CPI) showed that inflation was, once again, hotter than expected, frustrating both the market and the Federal Reserve (Fed). Both headline and core monthly inflation accelerated while the Fed’s favoured supercore inflation measure extended its recent upward trend. Today’s inflation report shows that it...
According to Challenger Investment Management’s December 2023 quarterly review:
Subordinated debt was the star of 4Q23
Australian dollar financials are expensive compared to offshore issuance, and
Retail bank capital (ASX-listed hybrids) are prohibitively expensive.
Tier 2 subordinated bank capital was the star of the final quarter of 2023. Major bank...
Emma Lawson, Fixed Interest Strategist - Macroeconomics in the Janus Henderson Australian Fixed Interest team, provides her Australian economic analysis and market outlook.
Market Review
Doubts about the speed of central bank easing crept through in January, taking away some of the stellar December gains before staging a late month rally....
