May 31
Source: RBA, Delta Research & Advisory Not too many posts in recent times and its been a while since I looked at the yield curve and I have to admit that after scanning the various newspapers I was expecting to see some significant moves. As the above chart shows, the curve has barely moved in …
May 14
The Rimsec Monthly Research report came out today which has commentary on current investment market themes, interest rate thoughts and some information on one of the significant risks within China…their property bubble. Anyway, if it is of interest you can download it by clicking here. Send article as PDF
May 06
Source: RBA, Delta Research & Advisory Whilst there has been so much talk about how funds are flowing out of bonds into equities there is little sign of it in the markets. The above chart shows Australian Government yields near the low levels of last June when the Eurozone was looking like blowing up creating …
Apr 12
I’m a little late with the first one of these but the second is hot of the press, so to speak. The following links are Market outlook reports provided by Rim Securities, and written by yours truly for Delta Research & Advisory. The March update (that is only 2-3 weeks old) can be downloaded here; …
Mar 30
Source: RBA, Delta Research & Advisory The above chart shows that the Australian Government Bond Yield Curve really hasn’t moved that much in the last 3 months…around an increase of 20bps which is not much at all when you consider all the talk about switching from equities to bonds. The reality is that there has …
Feb 11
Source: www.incrediblecharts.com As the above chart shows the Australian Sharemarket has had a stellar run over the last 3 months. Not a hint of volatility just upwards she goes from around 4350 to just short of 5000…throw in a very small number of dividends and its a superb return. Newspaper talk has suggested that there is a …
Jan 11
Source: RBA, Delta Research & Advisory I had no idea that I’ve only posted twice since November, so here I am again with my favourite chart, the Australian Government Bond Yield. As the above chart shows, over the past couple of months, yields have increased on average around 20bps across the longer end of the …
Dec 18
Source:RBA, Delta Research & Advisory As the title of this post suggests, no real significant movement over the past month or since the RBA dropped its cash rate down by 25bps. The yield curve has improved marginally but overall its still within its trading range that was more or less set between May and June …
Nov 15
Source: RBA I’ve uploaded the above chart in preparation for a presentation I’m giving tomorrow on portfolio construction. Anyway, the message isn’t really a great deal different from previous posts commenting on the Government bond yield curve. Namely, Interest rates are very low…you should be able to get some nice low fixed interest rates for …
Oct 22
Source: RBA & Delta Research & Advisory I can’t believe how time is flying and it is more than a month since I posted my last bond yield curve. The Mid Year Economic & Fiscal Outlook released today has provided numbers supporting a further slowdown in government revenue and this economic weakness has certainly been …