Week in review
This week, markets appear steady despite Canberra turmoil, RBA & FOMC meetings mean imminent rate change unlikely, CCV investors switch to other FIIG originated bonds, Syd Airport 2030 inflation linked bond demand continues, investors continue to assess JC Penney holdings, USD Virgin 2021 popular
Trade opportunities
StockCo is an attractive potential short to medium term investment option for investors at current yield to worst of 5.94%pa. The bond is available to both wholesale and retail investors
Week in review
This week, lower probability of an interest rate hike, Ausdrill and Barminco announce a potential merger, clients like the runway switch and RMBS to reduce duration.
Week in review
This week, US sanctions on Turkey impacts global markets, New DirectBond from Nufarm, IAMGOLD 2025 remains popular, Frontier and Talen lines downgraded by S&P, FIIG originated bonds traded heavily throughout the week
Week in review
This week Australian retail sales beat expectations and 10 year government bonds up, FIIG new issue from Zenith Energy, ‘lower for longer’ trend sees clients switching from Downer 2022s to Aroundtown 2025s. Gold bonds - IAMGOLD, Kinross and Newcrest in focus. Adani USD 2022 trading wider than comparable NCIG bond at an indicative yield to worst of 6.39%pa
Week in review
US 10 year Treasury yields still under 3%, prices stabilise for favourite USD issues and we have supply in high yield names, Asciano 2025 attractive to investors looking to extend portfolio duration and yield, popularity for Virgin 2023 AUD continues, supply in FIIG originated bonds includes LUCAS, Praeco an attractive investment grade bond for retail investors
Week in review
Investors capitalise on weak prices of Aussie USD issuers, supply remains across a number of high yield issues, US spread between two and 10 year Treasuries forecast to invert, Impact and Sunland fixed rate, senior bonds now available to all investors, NCIG’s new investment grade senior secured bond added to FIIG’s DirectBond menu as its junior subordinated debt active with callable yield over 8.00%pa, NRW announces new contract with BHP
Trade opportunities
Last year we DirectBonded UK based Ei Group, the UK’s largest leased and tenanted pub operator. The bonds have been difficult to source but we now have access. Low minimum GBP10,000 parcels make this bond worth reviewing. We compare it to five other GBP options
Week in review
The US Treasury yield curve continues to flatten, investors switch out of Transocean and into Sprint, FIIG favourite names in good supply with downward pressure on USD bonds issued by Australian companies. Demand for the Virgin 2023s continues, Sydney Airport 2030s attractive amid inflation expectations and new NextDC 2021 to start trading. RMBS supply still available.
Trade opportunities
With the RBA unlikely to raise rates until at least mid 2019 we look at the opportunity to extend the maturity of AUD investment grade securities, to increase yield