debt

There are a lot of "potential" investors on my mailing list. Waiting for the right entry point into the market. Some have been there for almost a decade, watching,...

A snap election seems likely to lead to a marked deterioration in an already difficult fiscal outlook for France.

Covid, high energy prices and elevated interest rates have slowed economic activity, forcing governments to borrow huge sums to support their economies. High debt...

The global economy is seeing a deterioration in credit conditions as higher interest rates and tighter lending criteria increase the cost and reduce the availability...

There are media reports abound that Victoria has raised $7.9 billion from the partial sale of VicRoads. Treasurer Tim Pallas, confirms the funds will go to the...

We have now received the big five state budgets and can assess proposed debt issuance relative to what they projected for this coming FY23. The short story is the...

Last night NSW released its budget data for the month of April, which reaffirmed that the state's general government cash deficit for 2021-22 (FY22) will end up...

WA has downgraded its debt issuance in 2022-23 (ie, FY23) by a large $1.3bn (or 20%) from its September 2021 budget estimate of $6.4bn and by $0.6bn from its...

Following the four major banks reporting their half-year and quarterly results as at the March 2022 balance date, we have updated our estimates of the amount of...

While media reporting on Victoria's budget has been confusing, it has surprised the market, investors and analysts with material downward revisions to the size of...

A new report projects that the deficits across the key States will be up to $11 billion smaller in FY22 and up to $18 billion smaller in FY23. Coolabah Capital's...

We share three high-conviction franchised business models to navigate current macro uncertainty amid rising rates: EWCW, FXLV and MCDAbout us: GORA is an...

Following APRA's release of its October Monthly Authorised Deposit-taking Institution Statistics, we have updated our estimates of the four major banks' debt funding...

Following in the footsteps of Evergrande, our credit analysts have provided the following update on two other Chinese real estate companies that are failing to repay...

There are several recent developments in this important story, which I originally covered here. On Friday I wrote in the AFR that the NSW Treasurer, Dominic Perrottet,...

The scandal around NSW using tens of billions of dollars of taxpayer debt to turn itself into a gigantic leveraged hedge fund (reaping substantial fees for the...

All roads in this scandal lead to the potentially career-defining decisions made by the NSW Treasurer Dominic Perrottet. Until now, Perrottet stayed conspicuously...

A recent academic paper found that adding leverage to an equity portfolio increased volatility but decreased returns for the vast majority of investors. The higher...

To say that government debt levels are high is nothing new. Even before COVID hit, despite years of austerity, debt levels were already extremely elevated. But after...

Governments the world over have been lamenting the lack of productivity growth for the last 15 years. In Australia this has been somewhat masked by our enormous...