Company updates
Week in review
Global central bankers insist on running in circles, lack of volatility continues in domestic credit and Kinross added to our DirectBond list
Trade opportunities
Fortescue bonds have experienced impressive capital price growth since January lows and are now trading at a premium to par, offering significant returns for investors
Opinion
The latest data from China shows its investment cycle has collapsed. Return on equity has declined to under 6%, debt has risen rapidly as has non bank shadow lending. Resource companies will find it increasingly difficult to generate satisfactory returns and now is a good time to sell out of the equities and buy the bonds
Company updates
Capitol Health’s results in line with forecasts, CBL to redeem outstanding April 2019 bonds, Fortescue released its June production report, IMF Bentham’s bank fee case against ANZ is dismissed and McPherson’s generates strong cash flow for latter half of FY16
Company updates
On 27 July 2016, Fortescue released its quarterly production report for the June quarter
Opinion
Periodically over the last financial year we’ve discussed where value can be found during uncertain times. With several important situations that have impacted the “lower for longer” global markets, we look at what this means for investors
Week in review
USD fell in response to jobs data, RBA meets tomorrow and several bonds to mature this month
Trade opportunities
Over the next few months there are quite a few maturing bonds – meaning many investors will need to decide what they do with the cash
Company updates
CML provides a trading update, Fortescue issues a repayment notice and Newcrest signs agreements to extend the term of its unsecured bilateral bank lending facilities