Offshore issuance from Australian corporates could soon wake from its slumber
Australian-origin corporate issuance has been even slower than usual at the start of the new year, both at home and offshore. However, with reporting season fast approaching intermediaries believe global markets will continue to offer opportunities to Australian companies – albeit with challenges.
RBA's latest hold leaves plenty of room for analysts to draw their own conclusions
While the latest Reserve Bank of Australia (RBA) cash-rate decision – a hold at 2 per cent announced on February 2 – surprised virtually no-one, analysts draw varying conclusions from the accompanying statement. The big disparity is whether the reserve bank sees growing reasons for a rate cut or whether it remains relatively comfortable with global and local growth.
League-table wrap 2015: ANZ and NAB grab top spots in Australia
ANZ and National Australia Bank (NAB) topped the tree in KangaNews's full-year intermediary league tables for Australian-market bond deals in 2015. ANZ comes out on top in the All-Australian Dollar Domestic League Table – including credit, syndicated government-sector and Kangaroo issuance but excluding self-led deals – while NAB scores in the pure domestic credit market.
Kauri market shakes off global woes but issuance momentum may not be maintained
The four Kauri transactions printed in the month so far match a record for January, and New Zealand intermediaries say solid on- and offshore demand continues to underpin high-grade Kauri deals. But they also have reasons to expect a moderate year for supranational, sovereign and agency (SSA) volume – and not just because of wider market turbulence.
RBA details impact of LCR implementation on bank assets and liabilities
Guy Debelle, Sydney-based assistant governor, financial markets at the Reserve Bank of Australia (RBA), used a December 16 speech to provide insights into how banks have adapted the asset and liability sides of their balance sheets to liquidity-coverage ratio (LCR) rules. He hinted at regulatory scrutiny of, in particular, the makeup of high-quality liquid-asset (HQLA) holdings and the use of self-securitisation.