Tier 2

Latest news and analysis on Tier 2

Fixed Income

The AT1 phase-out: Challenges and opportunities for fixed income investors

Yarra's Roy Keenan has been buying and selling AT1 hybrids for decades. With them being phased out by 2032, he discusses what happens next.
Chris Conway
Livewire Markets
Fixed Income

APRA proposes to phase-out bank hybrids by 2032

A surprising yet sensible proposal from the banking regulator, which will keep insurance hybrid securities in place
Christopher Joye
Coolabah Capital
Fixed Income

S&P upgrades Aussie major bank Tier 2 bond ratings from BBB+ to A-

As first forecast here in November 2023...
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Christopher Joye
Coolabah Capital
Fixed Income

Aussie bank tier 2 credit ratings to rise

Global investors appear to be completely oblivious to the prospect of a very important upgrade to the major banks’ Tier 2 bond credit ratings with Standard & Poor’s...
Jason Lindeman
Coolabah Capital
Fixed Income

Bank bond issuance could slow sharply

Markets do not appear to be pricing in the risk of a substantial slow-down in bank bond issuance
Christopher Joye
Coolabah Capital
Macro

Is it time to sell hybrids?

The back-story... I try to put my money where my mouth is. A couple of months prior to the Federal Election, we shifted more than $100m into franked ASX hybrids for...
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Christopher Joye
Coolabah Capital
Fixed Income

Coming tsunami of bail-in-able debt

This week I outline our analysis of the coming tsunami of "bail-in-able" Tier 2 bonds care of APRA's finalised Total Loss Absorbing Capacity (TLAC) policy, which the...
Christopher Joye
Coolabah Capital
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