Knock-on effects
The Australian Prudential Regulation Authority’s decision to reduce the size of the committed liquidity facility to zero by the end of next year may not be entirely surprising but it has ramifications across the local fixed-income market. The most obvious are on the demand side, but a closer examination of the decision’s implications also reveals likely consequences for supply dynamics.
Dissecting ESG in Australian private debt
The private-debt asset class is growing as investors seek reliable return in the ultra-low rates and spread environment. As private debt becomes increasingly mainstream, Commonwealth Bank of Australia and KangaNews explore how investors integrate environmental, social and governance practices in their strategies.
The outlier: WA charts its own course to pandemic exit
Bolstered by a – for a time – record iron-ore price and a largely COVID-19-free existence, Western Australia has enjoyed a unique economic rebound in 2021. The state’s premier and treasurer, Mark McGowan, explains why the state government is keeping cautious budget and public-health policy settings in place.
Read more: The outlier: WA charts its own course to pandemic exit
Trading conditions flex to accommodate new realities
For the second year running, ANZ and KangaNews hosted a roundtable discussion – this time in late September – to discuss conditions in the Australian secondary market and what trading realities say about macro trends.
Read more: Trading conditions flex to accommodate new realities
Securitisation issuers explore offshore as local spreads widen
Market talk is growing about a potential return to offshore issuance by Australian securitisation issuers – including some nonmortgage asset-backed securities – if supply continues to grow and spreads widen. Despite a record year and a strong October, some investors note recent and expected developments in the credit market could soften demand as issuers prep further deals to finish out the year.