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Jonathan Rochford

Time for ASIC to Fix its Longstanding Problems

February 20, 2019 by Jonathan Rochford

Eye on money note

The Royal Commission embarrassed ASIC with stinging criticism. Here’s some overdue actions they should take.

Filed Under: Australia Tagged With: ASIC, ASIC Culture, ASIC Problems, Banking Royal Commission

Why Bother Investing in Government Bonds?

February 2, 2019 by Jonathan Rochford

Canberra House Australian Government

Australian government bonds are very unlikely to reproduce the great returns of 2018. Here’s some low risk alternatives with a much better return outlook.

Filed Under: Government Tagged With: ASX, bonds, Government Bonds, Low-risk, Negative Correlation

APRA Should Ignore the Big Banks on Tier 3 Capital

January 24, 2019 by Jonathan Rochford

Money spilling out of a glass

APRA has recommended Australian banks hold more tier 2 capital. This submission covers key measures aimed at reducing the risk of banks needing bailouts.

Filed Under: Banks Tagged With: APRA, High Capital, High Risk, Tier 2 Capital

Is Australia Ready for the Next Financial Crisis?

January 14, 2019 by Jonathan Rochford

Red warning triangle with dollar sign inside saying financial crisis ahead

Have governments and regulators acted to lessen the likelihood and severity of a potential downturn in Australia across the banking/financial system, monetary policy, fiscal policy, taxation policy and competition policy?

Filed Under: Australia Tagged With: Australia, Debt, Financial Crisis, GFC

Narrow Road Capital’s Greatest Hits

January 2, 2019 by Jonathan Rochford

Looking through a crystal ball

Here’s my top 20 articles from the last 5 years; a mixture of credit commentary and policy pieces. The market ructions of 2018 have made my articles on Deutsche Bank, emerging market debt, cryptocurrencies, aggressive asset valuations and US high yield debt look pretty good.

Filed Under: Economics Tagged With: Greatest Hits

Credit Snapshots – November 2018

November 29, 2018 by Jonathan Rochford

Credit Shapshots

Bite size updates on the Australian Business Securitisation Fund, securitisation downgrade risks, TLAC and Deutsche Bank

Filed Under: Credit Tagged With: ARPA, Deutsche Bank, Securitisation, TLAC

The Arguments Against Austerity are Simplistic and Short Term

October 26, 2018 by Jonathan Rochford

Recent articles arguing against austerity lack logic and economic analysis. This article demonstrates why austerity is the better long term prescription.

Filed Under: Government Tagged With: Austerity, Debt, Monetary Policy

What is “Cash” and Why it Matters

September 27, 2018 by Jonathan Rochford

Australian Dollar notes

There’s a great deal of confusion over cash, enhanced cash & investment grade funds. Let’s clarify the purpose & underlying securities of each type of fund.

Filed Under: Money Tagged With: Cash

A Jobs Guarantee Could be a Better Form of Welfare

September 27, 2018 by Jonathan Rochford

Job Interview

Many are calling for increased income support for society’s poorest. A jobs guarantee could be beneficial for unemployed, employers, taxpayers and society.

Filed Under: Government Tagged With: Jobs Guarantee, Welfare

Emerging Markets: Nothing New Under the Sun

September 3, 2018 by Jonathan Rochford

Emerging Markets

The events overtaking Argentina and Turkey in recent months are textbook cases of an emerging market crisis. This article reviews the build-up, the break-down, the responses and who else is at risk.

Filed Under: Debt Tagged With: Emerging Markets, Foreign Currency Debt

How a “Bear” Outperforms in a Rising Market

July 28, 2018 by Jonathan Rochford

How is it possible that a “bear” can position their portfolios for the likelihood of a credit downturn and continue to outperform?

Filed Under: Credit Tagged With: bear, credit downturn

The Dirty Dozen Sectors of Global Debt

June 28, 2018 by Jonathan Rochford

2018-06 Dirty Dozen Sectors

This article details twelve global debt sectors where there’s lax credit standards and increasing risk levels, pointing to global credit being late cycle with limited upside left beyond carry.

Filed Under: Debt Tagged With: global debt

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