Banking sector

Week in review

Trading Desk – ANZ issues subordinated bond

The RBA kept rates on hold last week, reducing market expectations of a rate cut this calendar year. Whereas, in the US a future rate raise is supported by the positive employment figures released on Friday night. The AUD fell on this news while government bond yields moved higher. In trading, ANZ’s recent capital raising at good margins has forced other subordinated debt to reprice

Monday 09 November 2015 by

Banks add ballast to their balance sheets

The four major banks — ANZ, CBA, NAB and Westpac — must juggle the demands of many interested parties, a balancing act that sometimes requires them to issue capital, as shown by Westpac’s $3.5 billion share rights issue this week, offered to retail investors at a 13 per cent discount