Slim pickings in Australian corporate market as volatility bites
Just two non-financial corporate transactions priced in the Australian market between Apple's jumbo Kangaroo deal on August 21 and the start of the second week of October – and KangaNews understands the pipeline to be thin. Nearly always bullish on issuance prospects, even intermediaries accept full-year volume is likely to fall short.
Analysts say RBA's statement is simply read: keep holding on
While the October rates decision from the Reserve Bank of Australia (RBA) – a hold, at 2.00 per cent – surprised few in the analyst community, some suggest the reserve bank's tone is notably less dovish than expected. The consensus is for a prolonged period of on-hold rates rather than further cuts in the near future.
Muted optimism the extent of market response to Australia's new leader
Analysts and markets appear to see a potential upside for the Australian economic outlook in the wake of the country's latest change in prime minister – but only a limited one. Indeed, any positive market response to the dramatic events of September 14 in Canberra was quickly overtaken by global economic realities.
Q3 intermediary league-table update: domestic leaders clear, Kangaroos close
With three-quarters of the year in the books, two banks in particular hold commanding positions at the top of KangaNews's intermediary league tables for domestic transactions across Australia and New Zealand. The Kauri market also has a clear leader, but the race to top the 2015 Kangaroo league table looks set to go down to the wire.
Post-deal insights: Telstra rings out in support of domestic market
Telstra Corporation (Telstra) (A/A2/A) rebuffed what appears to have been an appealing opportunity to issue globally in favour of returning to the domestic market, the issuer tells KangaNews in the wake of its first domestic deal since November 2013. Intraday execution did not negatively affect the outcome of the deal but was a necessary inclusion given the market backdrop, it adds.