In the search for an apparent bargain, turnaround stories and cyclical companies are attracting far more capital and attention than they otherwise would.
Bite size updates on soaring global debt levels, anecdotes of yield chasing and the LIC/LIT fee battle.
Bite size updates on Paul Volcker’s legacy, European banks and UK fund lock ups.
Bite size updates on emerging market debt, US auto loans and Virgin Australia’s very junky debt raising.
Bite size updates on leveraged loans, Greece’s non-performing loan securitisation and India’s bad debts.
The RBA cut the Cash Rate on October 1st, but it has again failed to put forward a decent argument for why another cut is required.
The retail buyer base for bank hybrids is taking far more risk to get the same return as institutions buying AAA rated Australian RMBS
With the drop in overnight rates and credit spreads, credit investors are having to take far more risk to earn the same return