Fixed-income investor survey: Investors pass home economics
The latest iteration of the biannual Australian Fixed-Income Investor Survey, conducted by Fitch Ratings (Fitch) and KangaNews in September, suggests the buy-side tone on economic fundamentals is warming. At the same time, however, investors are wary about the extended period of spread compression they have experienced across debt asset classes.
Corporate borrowers' intentions survey: corporate capital-markets creep
The latest instalment of the KangaNews-Moody’s Investors Service (Moody’s) Corporate Borrowers’ Intentions Survey – published annually since 2014 – maintains a longstanding trend of only gradual shifts in corporate debt policy. At the margin, Australasian corporates appear to expect more capital-markets activity but there is no sign of a rush to credit-funded investment.
Read more: Corporate borrowers' intentions survey: corporate capital-markets creep
Taper tantrum or tame unwind?
Despite countless doubters and detractors, the European Central Bank (ECB) joined the multi-asset-buying policy trail in Q1 2015. To some, this unprecedented, extensive and expansionary monetary action saved the euro, or at least prevented an economic recession turning into a potentially irreparable depression. Market participants are now asking what comes next.
New Zealand's meeting of minds
In September, BNZ and KangaNews brought together a group of the most significant issuers and investors in the New Zealand debt market – from on- and offshore – for their annual roundtable discussion. In one of the most insightful conversations in this long-running series, Kiwi market participants analyse the present and future state of play.
WA treasurer cautiously optimistic on GST reform
The state treasurer for Western Australia (WA), Ben Wyatt, says a recently released Productivity Commission report recommending a radical overhaul of goods and services tax (GST) distribution among states puts the impetus firmly on the Commonwealth government to follow through.