Fixed Income

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Fixed Income

03DEC 2019

The changing Australian debt landscape

In a low-yield, low-growth world, fixed income is set to become even more important as a source of reliable cashflow and as a portfolio stabiliser. Stuart Dear shares why active management is likely to prove essential as beta falls and alpha becomes harder to capture.

Fixed Income

16OCT 2019

Fixed Income

15OCT 2019

2019

SEPTEMBER

16SEP 2019

Fixed Income

When the future is black, or white

What the future holds for investors depends entirely on where you look for guidance. According to bond market performance, there is a risk of US recession, while the equities markets are priced on the expectation of robust growth. Only one can be right.

16SEP 2019

Fixed Income

Will lower for longer be the new normal?

While Europe prepares for an expected ‘bazooka’ of stimulus that should include asset purchases, rate cuts and a tiering of the cash rate, in Australia, the RBA seems resigned that it will be a lower-for-longer environment.

AUGUST

21AUG 2019

Investment Insights

What do low (and falling) US interest rates mean for real estate and securitised credit investors?

We explore the impact of lower interest rates on real estate sectors following the 10-year Treasury yield at 1.7% and the Federal Reserve lowering short term rates.

15AUG 2019

Fixed Income

Do central banks need to change regimes?

Central bank groupthink across the world means that although inflation targeting has largely worked over the past three decades, effectiveness has waned and become marginal.

14AUG 2019

Fixed Income

The defensive income challenge

Geopolitical instability coupled with historically low rates means managers must work harder to generate income as cash and term deposits lose their appeal.

JULY

12JUL 2019

Fixed Income

Central banks running out of levers to pull

The decision by the RBA to cut rates to a new historic low of 1% officially puts Australia in the low rates club, but can the push by central banks to lower rates stabilise global growth? Extreme events – either recession or a sharp uptick in growth – seem unlikely in the near term.

JUNE

12JUN 2019

Fixed Income

Will RBA activity spark an uptick in inflation?

The RBA may push rates to further historic lows in an attempt to create the macroeconomic conditions that will provide a lift in inflation. This leaves it vulnerable to a further deterioration of the global backdrop, where softening tailwinds, intensifying headwinds, and the return of trade uncertainties may result in a drag on growth.