A Review of AUD Primary Markets 2025

It’s been a big year for fixed income primary markets, both in terms of the amount of issuance and also the demand from investors. Here we look back at trends that emerged over the year in new issuance.

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Bonds that pay franking credits

There are a handful of existing bonds in the Over-the-Counter (OTC) market that have franking credits attached to the coupon payments. In this article we discuss how the coupon distributions are typically paid on these fixed income instruments.

Portfolio Construction 2 - Credit and Interest rate risk

In this second article of the series we will delve into the two main risks faced by bond investors – the risk of not being paid back – or credit risk – and the risk of the market price of your bond investment moving due to a change in the interest rate or yield of the bond – called interest rate risk.

Portfolio Construction 1 - Setting the Scene

We recently covered the basics of bonds in a multi part series. We now move on to a slightly more advanced look in more detail at the way we think about building portfolios here at FIIG, in terms of specific client targets and the way we manage and mitigate the various risks that apply to fixed income portfolios.

An overview of the August 2025 reporting season

FIIG’s Research team provides a summary of the different sectors and how they performed over the period. The overview includes consumer-facing corporates, financial institutions and insurance companies, resources and infrastructure, as well as Real Estate Investment Trusts (REITs).

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