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Elizabeth Moran takes a look at the new BOQ Tier 2 subordinated debt issue and compares it to the recent Judo Bank and QBE issues. Bank of Queensland (BOQ) is in the market taking an indications of interest (IOIs) for a new 10.25 year, non call 5.25 year (10.25NC5.25) subordinated...

European investment manager Amundi says that economic growth is moderating but not collapsing across the developed world and inflation is falling in line with central banks' targets, indicating that the central bank put is firmly in place. "As a result, we are mildly positive on risks and aim to ensure...

The combined US unemployment and inflation picture suggests the Federal Reserve (Fed) will take monetary policy easing slowly. Two more 25 basis point (bp) cuts are expected this year. Progress towards a neutral stance probably needs inflation to decline a bit more and the labour market to ease a...

It’s tempting to assume that a bond with a yield of 6% will give a yield of 6% every year. But bonds usually give higher returns than their quoted yields early in their life, but lower yields later on. How a bond’s return can be expected to evolve depends...

From Chief Investment Officer, Michael Goosay. This is an extract from Principal Asset Management’s 4Q24 report. It has certainly been an eventful quarter for fixed income. A significant repricing of Fed expectations and the start of the rate-cutting cycle has finally brought the return of positive-sloped yield curves. The combination...

From Martin Rea, Senior Consultant, JANA Investment Advisers about the impact of Hurricane Milton on the Catastrophe Bond Market. The worst seems to be over. Hurricane Milton made landfall in central-western Florida as a Cat 3. It has caused severe wind and flood damage but has now passed into the...

Commentary on key market themes for Q4 2024 from Seema Shah, Chief Global Strategist at Principal Asset Management. A globally synchronised downturn produces a globally synchronised policy easing. As global growth has weakened, policymakers have started to respond. The U.S. Federal Reserve is committed to avoiding recession, while China’s recent...

Mike Della Vedova, T. Rowe Price portfolio manager of the T. Rowe Price Global High Income Fund was in Australia recently and Elizabeth Moran sat down with him to learn more about the high yield market and his fund. EM - Thanks Mike for making the time to speak to...

By Andrew Lakeman of Atlantic House, a London-based boutique investment manager specialising in derivatives-based strategies. The fixed income landscape has shifted significantly in recent years, driven by rising inflation, volatile interest rates and economic uncertainty. Traditional fixed income allocations have faced challenges, particularly those with longer durations, and especially those...

As global interest rates start to ease, investors are faced with new challenges and critical decisions in managing risk while seeking yield in fixed income portfolios. Andrew Canobi, portfolio manager and director at Franklin Templeton Fixed Income, provided insights on how to navigate this shifting environment, encouraging caution with...