If central banks take away the metaphorical punch bowl, the party would quickly become a riot with asset prices trashed
The announcement that NAB is preparing to call NABHA securities is good news for holders, but it is a reminder of common myths about hybrids
The Federal Government has handed the Australian major banks two big wins over their non-bank competitors
From 2012-2019 central banks should have been unwinding stimulus, but instead they increased it and created a bubble in financial markets and the economy.
The RBA’s decision to cut rates on March 4th seems more about appearances than cold economic logic.
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
Central banks are using a monetary policy hammer when economies need a screwdriver. Here’s what they should do instead.