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The end finally appears near for NABHA holders

October 10, 2020 by Jonathan Rochford

NABHA

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

Filed Under: Banks Tagged With: NAB, NABHA, NABHA securities

A double win for the major banks

October 3, 2020 by Jonathan Rochford

Double win for big banks

The Federal Government has handed the Australian major banks two big wins over their non-bank competitors

Filed Under: Banks Tagged With: Banks Big WIn, Double Win, Responsible Lending

If It’s Unsustainable, It Will Eventually End

September 19, 2020 by Jonathan Rochford

Unsustainable will end

Governments, corporates and households with excessive spending and debt are living on borrowed time.

Filed Under: Investment Outlook Tagged With: borrowed time, Unsustainable

Be Cynical On Government Debt

September 12, 2020 by Jonathan Rochford

Be cynical on government debt

It’s relatively easy and common for politicians to walk away from a financial mess, which makes corporate and personal debt a better investment than government debt.

Filed Under: Government Tagged With: Government Debt

There’s a reason emerging markets look cheap

August 22, 2020 by Jonathan Rochford

Emerging markets road sign

Emerging markets are cheaper than developed markets for good reason, with three recent examples highlighting commonly ignored risks.

Filed Under: Investment Tagged With: Asset Classes, Cheap Deals, Emerging Markets

Company directors: if you can’t stand the heat, get out of the kitchen

August 15, 2020 by Jonathan Rochford

Company Directors

Company directors hold themselves out as experts, but are increasingly demanding protection from the consequences when they fail to act reasonably.

Filed Under: Business Tagged With: Accountability, Board Members, Business Performance, Company Directors

Is Anyone Crazy Enough to Lend to Argentina?

August 8, 2020 by Jonathan Rochford

Crazy Enough Argentina Hero

Argentina is a deadbeat borrower that will probably default again, but there’s a high probability lenders will be back anyway

Filed Under: Lending Tagged With: Argentina, Argentina Bonds, Debt Deal, Lending

In a Crisis, the Quality of Spending and Debt Matters

July 25, 2020 by Jonathan Rochford

Debt Quality Matters

There is no free lunch, Keynesian responses do provide short term stimulus but place an anchor on future economic growth.

Filed Under: Debt Tagged With: Crisis, Debt Matters, Keynesian Responses, Quality of Spending

Eviction Moratoriums Are Terrible Economic Policy

July 18, 2020 by Jonathan Rochford

Eviction Moratoriums

Eviction moratoriums are supposed to help poorer citizens, but in the long term they result in rental accommodation being more expensive.

Filed Under: Economics Tagged With: Broken Window, Economic Policy, Eviction Moratoriums, Property Rights, Tenants

There’s Always Something Interesting Happening in Debt Markets

July 11, 2020 by Jonathan Rochford

Interesting debt Markets

If you venture off the well trodden pathways, there’s always something interesting happening in debt markets.

Filed Under: Debt Tagged With: China, Debt Markets, Green Bonds, Greenwashing

Could Austria’s Century Bond End Up Like Argentina’s?

July 4, 2020 by Jonathan Rochford

Austria Century Bond

It doesn’t take a default for Austria’s recently issued century bond to trade at the same price as Argentina’s defaulted debt.

Filed Under: Money Tagged With: Argentina, Austria, Century Bond

When the Truth is this Crazy, Who Needs Conspiracy Theories?

June 27, 2020 by Jonathan Rochford

conspiracy theories

The insolvency of Wirecard has made many look foolish, but short sellers and a journalist had been on the case for years

Filed Under: Money Tagged With: Conspiracy

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