Director - Research, Consulting and Advisory, BondAdviser

Nicholas Yaxley

Director - Research, Consulting and Advisory

Australian bonds & fixed income research

BondAdviser

BondAdviser is the central reference point for intelligent information on Australian fixed income markets. We help you make informed decisions by providing unbiased research, transparent pricing data, analytics, portfolio tools and education.

BondAdviser has the broadest coverage of retail-accessible ASX-listed and over-the-counter Australian bonds and fixed income securities. We make it easy for you to review and compare investments before you place an order with your broker or dealer.

Thematic (Sector/Industry)

<p>Bank hybrids have been issued in the Australian financial landscape for over 20 years in various forms. While drivers of performance have varied over this period, they are typically cyclical and have a recurring impact on security trading margins (albeit at different magnitudes). The focus of the article will be on what is technically known as an Additional Tier 1 capital security (hybrids), and our expectations for market drivers over the next twelve months and how hybrids will be impacted by supply &amp; demand, valuations, diverging monetary, and regulation.</p><p>Hybrid investors need to be aware of the different drivers of market volatility (fundamental or technical) and appreciate how they may (or may not) influence margin movements.</p>

Bank hybrids have been issued in the Australian financial landscape for over 20 years in various forms. While drivers of performance have varied over this period, they are typically cyclical and have a recurring impact on security trading margins (albeit at different magnitudes). The focus of the article will be on what is technically known as an Additional Tier 1 capital security (hybrids), and our expectations for market drivers over the next twelve months and how hybrids will be impacted by supply &amp; demand, valuations, diverging monetary, and regulation.Hybrid investors need to be aware of the different drivers of market volatility (fundamental or technical) and appreciate how they may (or may not) influence margin movements.

Liquidity and Technical Drivers of Hybrids

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<p>There is plenty of corporate risk out there. We have seen this across several large economies in the way of meaningful corporate stress. </p><p>In South Korea, the Hanjin Shipping bankruptcy has negative implications not only for Korean banks, but certainly other banks lending into this space. This will not be an isolated shipping stress; there will be more.  In China, Bohai Steel is in trouble, which reportedly has US$28.9 billion in overdue loans. The steel sector has hit several banks in Thailand…</p>

There is plenty of corporate risk out there. We have seen this across several large economies in the way of meaningful corporate stress. In South Korea, the Hanjin Shipping bankruptcy has negative implications not only for Korean banks, but certainly other banks lending into this space. This will not be an isolated shipping stress; there will be more.  In China, Bohai Steel is in trouble, which reportedly has US$28.9 billion in overdue loans. The steel sector has hit several banks in Thailand…

Consumer Banks in Asia May Fare Better at a Time when Large Corporate Stresses Are Evident

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<p><strong>Chartonics webcast </strong>Wednesday 7 September 2016</p><p><strong>Rotation plays in Asia </strong></p><div>To view click on this link: <a href="http://www.screencast.com/t/F6RFeLLyfu" target="_blank">http://www.screencast.com/t/F6RFeLLyfu</a> 6:29 min.</div><div>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/012/922/original/CPG%20FRONT%20COVER.png?1473237558" class="editor-image img-responsive" data-smartkarma-image-id="12922"></figure><div class="content-caption">Asia stock rotation webcast</div>
<p>Action point in Taiwan - 9,200 was our pivot risk point for our 9,033 pair short which was cleared calling for cutting this position. </p>
</div><div>TSMC - 180 was our risk point for stopping out our 177.50 short (our short pair bet). Above 185 would constitute a parabolic breakout. Don't want to miss a fade here thus watching 185 which is…</div>

Chartonics webcast Wednesday 7 September 2016Rotation plays in Asia To view click on this link: http://www.screencast.com/t/F6RFeLLyfu 6:29 min.
Asia stock rotation webcast
Action point in Taiwan - 9,200 was our pivot risk point for our 9,033 pair short which was cleared calling for cutting this position. 
TSMC - 180 was our risk point for stopping out our 177.50 short (our short pair bet). Above 185 would constitute a parabolic breakout. Don't want to miss a fade here thus watching 185 which is…

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

<p>Chinese investment in Africa is much misunderstood, with little reliable data. But it can be said with some certainty that the main damage done by such investments is not so much to Africa, but to the Chinese economy.</p>

Chinese investment in Africa is much misunderstood, with little reliable data. But it can be said with some certainty that the main damage done by such investments is not so much to Africa, but to the Chinese economy.

Making Sense of Chinese Investments in Africa

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

<p>Fullerton India Credit Company Ltd, a locally registered Non-Banking Finance Company (NBFC) owned by Temasek via Fullerton Singapore, plans to issue masala bonds to international investors in order to diversify its funding sources. Masala bonds are rupee denominated offshore bonds quite similar to dim sum bonds issued by Chinese companies. After HDFC, the largest mortgage lender in India, became the first company last week to successfully place a Masala Bond issue more companies are eyeing this…</p>

Fullerton India Credit Company Ltd, a locally registered Non-Banking Finance Company (NBFC) owned by Temasek via Fullerton Singapore, plans to issue masala bonds to international investors in order to diversify its funding sources. Masala bonds are rupee denominated offshore bonds quite similar to dim sum bonds issued by Chinese companies. After HDFC, the largest mortgage lender in India, became the first company last week to successfully place a Masala Bond issue more companies are eyeing this…

Fullerton India to Issue Masala Bonds for Local Ops; Investors in Yield Hunt Chase Cos for Issuance

Taiwan

Cathay Financial Holding Co., Ltd. is a holding company.  Through its subsidiaries, the Company provides traditional life, health care, and accident insurances, as well as banking, security underwriting, and brokerage services.

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Cathay Financial Holding Co (2882 TT)

Liquidity and Technical Drivers of Hybrids

Bank hybrids have been issued in the Australian financial landscape for over 20 years in various forms. While drivers of performance have varied...

BondAdviser

Consumer Banks in Asia May Fare Better at a Time when Large Corporate Stresses Are Evident

There is plenty of corporate risk out there. We have seen this across several large economies in the way of meaningful corporate stress. In South...

Daniel Tabbush

Asia Rotation Picks

Chartonics webcast Wednesday 7 September 2016Rotation plays in Asia To view click on this link: http://www.screencast.com/t/F6RFeLLyfu 6:29...

Thomas Schroeder

Making Sense of Chinese Investments in Africa

Chinese investment in Africa is much misunderstood, with little reliable data. But it can be said with some certainty that the main damage done by...

Bixmoor

Fullerton India to Issue Masala Bonds for Local Ops; Investors in Yield Hunt Chase Cos for Issuance

Fullerton India Credit Company Ltd, a locally registered Non-Banking Finance Company (NBFC) owned by Temasek via Fullerton Singapore, plans to...

Asia Advisors

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