ABE Weekly 18/11/2020 Market Update “Why does man sacrifice his wealth at the expense of his health, then sacrifices his wealth to recuperate his health” Pfizer and BioNTech, two pharmaceutical firms, announced that their vaccine against covid-19 is more than 90% effective, according to early results from trials. The high success rate raised hopes of a quicker [...]
ABE Weekly 11/11/2020 Market Update The big news this week is that we have a new leader of the free world in Joe Biden. However, despite what appears to be a convincing win The Donald is not giving up without a fight. If the equity market is anything to go by the result was well received – change is [...]
ABE Weekly 04/11/2020 Market Update The big news this week was the RBA cutting the official cash rate by 15bps to 10bps. It was pretty much a given so didn’t really affect the markets too much. It also happened to be on the same day as the Melbourne Cup and ahead of the US election so was [...]
ABE Weekly 28/10/2020 Market Update AUSTRALIAN BOND EXCHANGE LAUNCHES NEW ENHANCED YIELD NOTE – PALLAS CAPITAL 7.5% 2024 This week’s highlight is the launch of a new issue by Pallas Capital of a 7.5% Fixed Rate Note maturing in 2024 with ABE as lead manager. The initial deal is set to raise $30m and quite possibly based on demand be [...]
ABE Weekly 14/10/2020 Market Update “Be fearful when others are greedy and greedy when others are fearful” - Warren Buffet Consumer sentiment in Australia surged 18% in September, coming off an extremely weak 79.5 read in August when Victoria moved back into lockdown and consumers were clearly fearing similar outbreaks in other states. On a positive note [...]
ABE Weekly 07/10/2020 Market Update “It is what it is” It’s funny, the above quote says a lot and nothing at the same time but is probably one of the most used quotes at present. Most recently it was used to describe the COVID situation in the US but as far as the bond market is concerned “it [...]
ABE Weekly 30/09/2020 “When in doubt do nothing” Market Update So here we go again, another week rolls by and Christmas decorations are already going up and its only September. On the home front it’s all about the next RBA meeting and the budget both of which are on the 6th of October. You can boil down the likely [...]
ABE Weekly 23/09/2020 Market Update “If you’re not confused you don’t know what’s going on” – Jack Welch There could never be a more appropriate statement to describe the current global situation as it relates to economics, politics, and most of all what the post COVID world will look like. It is hard to keep positive in the current environment, but we need to. For the past few months, we [...]
ABE Weekly 06/09/2020 Market Update “Be so good they can’t ignore you” - Steve Martin The new world order of Government control and Central Bank intervention continues across the markets! The FT reported this week that FX is now becoming the new playground for bond traders given central banks have continued selling free puts, strongly reducing trading opportunities in fixed-income markets. As we all remember, bond markets went into meltdown [...]
ABE Weekly 09/09/2020 Market Update A wise man once said “Yesterday is history, tomorrow is a mystery, today is a gift that’s why they call it the present” Well, despite the push back from manyeconomists, the prospect of negative interest rates in Australia is drawing all the closer. Bloomberg reported recently in a survey of 11 economists that 7 are expecting the RBA to boost bond [...]