The average Australian household’s wealth may be even more exposed to the housing market than many people realise.
The ‘repo market’ – has received an unusual amount of attention since the latter part of 2019.
Fixed income market inefficiency creates a vast and diverse range of mispricing opportunities that ‘relative value’ specialists can exploit.
Providing the ability to transact freely and liquidity plays a big role in how confident you can be about an investment’s valuation.
The collapse in global bond yields has delivered large windfall capital gains however it has come at the cost of a vanishing yield cushion.
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.
Following the sharp sell-off in Q4 2018, credit markets globally have performed strongly in 2019. Having seen a big dip, followed by a quick rebound, how are we now left?
Liquidity is one of those things that doesn’t get much focus until it’s too late.
Recent inflation readings in Australia and the US have reinforced the strong consensus view that inflation will remain very low for a long time.
With global bond yields back near the low end of recent ranges, it’s an opportune time to revisit a theme that’s relevant to portfolio construction today – the bond vs. equity correlation.