November Rain – Implications of RBA QE for Investors
In November, the RBA took monetary policy to new extremes by cutting the cash rate to near zero and embarking on a massive new Quantitative Easing program.
The changing role of duration in an ultra-low yield world
Ultra-low yields fundamentally change the risk vs. reward proposition of government bonds.
Vanishing yield cushions and the asymmetry of duration risk
It is widely assumed that government bonds are inherently ‘safe’ investments but this assumption is no longer so reliable.
Fiscal is the new black ( …until the bond vigilantes return )
Government bond markets are now at the precipice of a paradigm shift.
How to reduce the risk of a portfolio
In this Livewire video, Dr Laura Ryan discusses a strategy that can produce returns regardless of whether interest rates are rising or falling.
Bond yields can be misleading
How can a negative yield bond deliver a positive return, or a positive yield bond deliver a loss?
The drivers of conventional fixed income returns
To properly assess performance the underlying drivers of return must be understood, including the types of risk to which a portfolio is exposed.
Exploiting arbitrage in bond markets
In this podcast Portfolio Manager, Gopi Karunakaran, speaks to Alan Kohler about the Ardea Real Outcome Fund and how it operates.
The push and pull on bond yields
2019’s rampant bond rally came to a halt this month as bond yields rose, causing bond prices to fall across most major bond markets.
The bizarre world of negative interest rates
Some central banks are pushing monetary policy into the upside down world of negative interest rates, but rather than success they are creating bizarre side effects.