Research Hub
Please find below all the relevant research materials
RECENT Credit Opinions
Santander
Credit Update – KeyInvest
Credit Update – Australian Bank USD AT1s
Credit Update – Jervois
Credit Update
Aroundtown
Earlypay (EPY) – 1H23 Results & RevRoof exposure
Origin
AMP
Pioneer
Ampol
Jervois FY22 Credit Update
NCIG S&P Upgrade
Earlypay – Trade Finance Facility
Pioneer Credit Update Following FY22 Results
Earlypay FY22 Results
Credit Update – Pioneer
Jervois Update
Quick Update on High Yield Issuers
Seek (SEKAU) Hybrids
Suncorp Credit Update
Crown: Credit Update
Crown Update
Clearview Wholesale
MME Credit Update
Police and Nurses
SocGen
MoneyMe Horizon Warehouse Trust
Pioneer Update May 2022
Earlypay Trade Receivables Trust
Pioneer Update
Crown Update
NCCGA 4.5% Convertible Notes
Pembroke Credit Update
Lloyds Legacy Tier 1 Par Regulatory Call
Transurban
BNK Banking Update
Partners Life
Nufarm Update
Infrabuild Update
BFMG
GWOF
Aurizon
Pioneer Credit and Debt Update
NCIG
Australian Unity
Pacific National
FHIM
MoneyMe (MME) HoldCo Secured
Jervois
RECENT Thought Pieces
Income Opportunity – Floating Rate Notes
Positive for AT1 instruments, including new ANZ NZ OTC; Neutral for T2 instruments over the medium to long term.
Why bank term deposits are falling and what is driving them
How to position your portfolio when rates fall
Interest rate swap curve is a key factor in pricing corporate bond curves
Bond Opportunities in Current Interest Rate Environment
Direct Investment vs Funds
Proposed Changes to Wholesale Investor Qualification
Australian banking sector update
China, deflation, and global rates falling
Adding duration to portfolios right now
Factors that influence the price of fixed rate bonds
Common misconceptions about bonds
Equity risk premium highlights case for bonds
What factors influence the price of fixed-rate bonds? And how can I mitigate these factors?
New RBA, old cycles, new investment choices
Sequencing Risk
How fixed income can help address issues in the aged care sector
Market Commentary: 2023 Sparkles on Fixed Income
High quality Australian bonds at decade-plus high yields
Implications for UBS/CS on Kangaroo Perps
UBS to buy Credit Suisse in Momentous Deal
Silicon Valley Bank (SVB) – Where To Now?
Portfolio Strategies
Credit Outlook 2023
Age Care Sector
APRA Announcement
Foreign Currency Bonds
Benefits Of FRNs
The Credit Market – State of Play Sep’22
S&P Default Rate Study
Aussie Banks Bonds Creating Opportunities
Experts Suggest Fixed Income Asset Allocation
Portfolio Review: Bond Mix
Cheap bonds, spiking yields
The IAM 6% Club
Post-Election Credits
OTC T2 and AT1
Value emerging in term deposit rates
The Benefits of Bonds
The 5% Club
Value in T2 vs AT1
Hybrids
Inflation and the RBA
Expert Insights: Keep an Eye on China and the US
Expert Insights
Duration and How Investors Should be Positioning
Reopening Australia
Equity Bubble
Australian Tapering and Bond Implications
Virgin Collapse
RECENT Trade Ideas
BNP Float 08/23/34 [AU3FN0090353] – /100.3 (+208; 5.93%)
Karoon Energy USD Senior Secured B+ @ 8.8%
La Trobe Senior Secured Term Loan | 8.4% Forecast YTM
ANZ + Suncorp
Call on Aroundtown and Societe Generale
Police and Nurses Capital Note
RESOLUTION LIFE New 7yr Tier 2
UBS Call
Great news for noteholders with “early pay” for consent
BNP subordinated (BBB+) 6% to Dec 2026
Novacare AUD April 2033 Senior Secured
Earlypay
AMPOL Investment Grade Notes
Bond opportunities in the 6% club
HSBC 6.211 03/21/34
Pacific National 3.8 31s
Barclays 4.375 Perp (Ba1/BB-/BBB-)
Value in Kangaroo Issuers
Australian Gas Networks 2025 at CPI + 3.08%, AA rated
Ausnet 6.134 33
Corporate Floating Rate Note Offer: Pacific National at 7.00%
Key Invest
Pioneer Credit
Nufarm
Northern Territory Treasury Corporation
Natwest
AMP
Macquarie AT1 issue
Trustee Updates
Port of Newcastle
New Nickel Industries 5.5NC2.5 US$ Issuance
Sell SOCGEN Buy BNP
Liberty Financial FY22
Nufarm FY22 Results: a ratings upgrade candidate in the making
IAG Hybrid
Origin Energy – Takeover News
Airservices Australia
Trade Idea CBA
GBP AT1 Options – My Top 2 Picks
Australian USD Discos – High Risk
NCIG Senior Secured
Port Of Brisbane
The value in AUD Corporate Hybrids
Liberty Financial Group
Ampol
Ausnet Hybrids Copy
Top Duration Trades
Ausnet Hybrids
European Bank USD AT1 Securities
MBL
Strandline Resources
Australian Secure Capital Fund (ASCF)
Qantas Curve
Virgin Money
Nickel Mines 6.5% 2024s (B1/B+)
ING
USD MQGAU
Ampol Hybrids
MinRes
Societe Generale (SocGen)
Ausnet Hybrids
Australian Discos
Switch
GPT 32s
Port of Newcastle
IG GE Perp and Citi Trups
Pioneer High Yield Offer
Liberty FRN
AFCP 2019-1 A Note
Scentre Group Hybrids
Fortescue
Clearview Subs
PIOCRE
Flagship
Lendlease
Clearview Subordinated Notes
Regional ASX-listed AT1s
NQET
Strandline
GM Financial
Crown ASX-listed Hybrids (CWNHB)
NAB
AMP Life
RECENT New Issues
Lendlease 31s offering yield of ~6%
Finexia Childcare Trust – B Notes
Westpac taps bond market
Judo AT1
CBA
Judo Bank – T2 Issue
CBA PERLS XVI
Liberty 5YR
Telstra 5 YR – Relative Value Comments
Suncorp 15.75 NC 5.75
Avanti Finance – 4NC2 AUD Bond
AMP Bank
AFC 2022-1 Trust
Judo Bank 3yr Senior Unsecured
Medpro Finance
Challenger Life Company Limited – Subordinated Notes
MyState
MBL T2
Vicinity
Westpac
Hastings Technology Metals Limited
Mineral Resources USD Deal
CBA AUD10nc5 T2
RECENT The Swanger Series
