Education (basics)

The rise and evolution of listed credit notes

Listed notes have many superficial structural similarities to OTC bonds. They pay income on a set scheduled and they have a final maturity date where the principal is repaid. In particular, the current Listed Notes all are floating rate notes, which means the interest rate payable does change over time, but according to a predictable pattern set in advance.

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Budget 2026 - Hard decisions will put noses out of joint

There is a very clear shift of the burden of taxation away from income and towards investment gains. The budget reduces the total size of the Government and the Government spending. As such, it will lean against inflation in a mild way – though many of the larger changes to taxation are not imminent and will, hopefully, be after inflation has already cooled.

The mechanics and purpose of Callable Bonds

Call dates are a common structural feature across many bonds in global markets, particularly for subordinated and hybrid instruments, and are typically included to provide issuers with flexibility around capital management, refinancing, and regulatory considerations.

Inflation and rate hikes, why diversification is key for bond portfolios

With the Reserve Bank of Australia (RBA) hiking thrice already this year, and the uncertainty caused by the conflict in the Middle East, it’s worth checking there’s a good level of diversification in portfolios to mitigate rising risks. Here we discuss what to consider in portfolios with the current RBA rate outlook and market uncertainty.

Why the RBA Raises the Cash Rate

With markets expecting further rate hikes from the Reserve Bank of Australia this year, in this piece we explore this monetary policy tool and why Central Banks use it to achieve inflation targets.

Indexed annuity bonds - how they work and their many benefits

Indexed annuity bonds (IABs) offer protection against inflationary pressures, making them a crucial allocation during times of high inflation, but also offering many other benefits too. Here we discuss how they work and why they’re considered a core portfolio holding.

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