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Credit Basics

21/06/2018 | 5:02 PM  Australian equities are "marginally in the black year to date" and the economy is growing at a faster than expected rate, according to the latest Morningstar note.

19/06/2018 | 4:16 PM  A shift toward restrictive trade policies among some developed markets ranks among the primary risks for fixed income, while opportunities include US housing and European financials.

18/06/2018 | 3:17 PM  On Friday US President Donald Trump announced tariffs on Chinese imports, triggering a potential trade war between the world's two biggest economies. Morningstar senior international editor Emma Wall sat down with Fidelity International investment director Catherine Yeung to discuss.

14/06/2018 | 4:23 PM  As the US Federal Reserve hikes rates further, this credit-focused asset manager explains the implications and some core concepts of bond markets.

31/05/2018 | 12:14 PM  The political upheaval in Italy is rattling global markets and investors as it forces European stocks down and pushes bond yields higher.

22/05/2018 | 3:32 PM  With bond yields rising and the highest correlations between fixed income and equities returns in years, here's what the smartest people in the room told Morningstar last week.

22/05/2018 | 11:23 AM  European telco and some of the region's emerging economies are among the biggest opportunities, says Dan Kemp from Morningstar Investment Management UK.

10/05/2018 | 2:57 PM  Macquarie Group will raise $600 million, with the ability to raise more or less, via a new hybrid issue to be listed on the Australian Securities Exchange.

09/05/2018 | 3:53 PM  The February market correction that saw equities and bonds fall simultaneously may mean the end of the negative correlation for bonds and equities, which has served investors so well for 40 years.

09/05/2018 | 3:05 PM  This study may help investors make a more informed decision between an active bond fund and a lower-cost passive strategy, writes Morningstar's Miriam Sjoblom.

08/05/2018 | 4:16 PM  Treasurer Scott Morrison will tonight deliver his third and arguably last budget before the next federal election. Here is a summary of what we know so far.

07/05/2018 | 8:06 PM  The bond market bear has started to show its teeth, but this doesn't mean investors should ignore this US$100 trillion market, writes J.P. Morgan's Kerry Craig.

27/04/2018 | 9:03 AM  The US 10-year Treasury yield hit 3 per cent for the first time in more than four years this week. Are bonds attractive investments again, or will yields continue to rise?

12/04/2018 | 2:47 PM  Rising trade tensions, political instability and interest rate moves are just some of the challenges that confronted investors in the first quarter of 2018.

04/04/2018 | 8:49 AM  Up to 20 per cent of investors holding additional Tier 1 (AT1) securities would be negatively affected by Labor's proposal to end cash refunds of excess imputation credits, says Morningstar's John Likos.

03/04/2018 | 4:34 PM  The Reserve Bank of Australia has left the cash rate unchanged at 1.5 per cent, meaning Australia's interest rate has been at a record low for 20 months.

03/04/2018 | 4:34 PM  China's expanding debt raises concerns given similarities with credit booms that crashed, dominance of state-owned enterprises, shadow-banking, and its dangerously distorted property market.

03/04/2018 | 1:26 PM  The proposed Labor dividend policy would strike hardest at the heart of additional Tier 1 securities, impacting approximately 15 per cent to 20 per cent of them, according to Morningstar.

28/03/2018 | 4:52 PM  Further interest rate increases from central banks, led by the US, could be destabilising for fixed income managers, but most are positioned for this.

22/03/2018 | 11:11 AM  US Federal Reserve chair Jerome Powell's announcement of a 25-basis point interest rate rise overnight was largely anticipated, though the pace and number of further shifts remain uncertain.

20/03/2018 | 9:02 AM  Sudden shifts in bond markets are inevitable from time to time, but government bonds can offer prtotection from falling equity markets.

05/03/2018 | 1:37 PM  The great global bond boom has ended with a bang, after shock US inflation data sent bond yields surging and stocks diving

20/02/2018 | 9:47 AM  At US$10.5 trillion, China's bond market was the world's third largest as of September 2017, behind the US and Japan.

12/02/2018 | 9:47 AM  With the stock market continuing to gyrate wildly, it's easy to forget that, until now, equities had generally moved in a straight line higher

08/02/2018 | 10:56 AM  What bond investors can expect as bull market ends amid US monetary tightening; and what 1H18 company earnings hold for equity investors, from Shane Oliver, chief economist, AMP Capital.

04/02/2018 | 8:22 AM  Westpac Banking Corporation will raise $750m via a new hybrid issue, to be listed on the Australian Securities Exchange.

18/01/2018 | 11:02 AM  To help ride out global credit market volatility, this trio of global bond funds have quite distinct characteristics but are each highly regarded by Morningstar's manager research team.

17/01/2018 | 5:15 PM  Morningstar's director of equity and credit research, John Likos, explains Australian investor implications of higher global yields and shifting economic expectations in the US and Europe.

16/01/2018 | 12:41 PM  Despite monetary and fiscal policy adjustments, bond markets remained steady for 2017, providing a subtle encore to the prior year's risk-on fervour.

09/01/2018 | 4:30 PM  Insights on Australian interest rates, US tax reform, and winners and losers in fixed income featured in Morningstar's Australian Credit Monthly for December 2017.

21/12/2017 | 2:12 PM  While supply dynamics have proven a strong tailwind in 2017, Morningstar doesn't expect the same level of positive price momentum to continue.

15/11/2017 | 8:00 AM  The coming year should be another resilient one for fixed-income investors, although not without its challenges.

13/11/2017 | 11:00 AM  The macro stability cocktail is a combination of decent growth, muted inflation, and very gradual withdrawal of central bank accommodation.

31/10/2017 | 8:21 AM  The Australian hybrids market has performed strongly since the middle of last year, which is no coincidence given the improvement in the big banks' capital positions.

23/10/2017 | 4:34 PM  Suncorp will raise $250m via a new hybrid issue to be listed on the ASX, called Suncorp Capital Notes 2 (SUNPG).

16/08/2017 | 9:50 AM  ANZ will raise up to $1bn via a new hybrid issue, to be listed on the ASX, called ANZ Capital Notes 5 (ANZPH).

02/08/2017 | 3:03 PM  Slowing economic growth in the US and parts of Europe emphasises the need to carefully select credit opportunities, says Vincent Reinhart, chief economist, Standish Mellon Asset Management.

01/08/2017 | 9:17 AM  With the ongoing quest by central banks to normalise interest rates, Australian investors have been given plenty of reasons to review asset allocation in preparation for an eventual tightening.

20/07/2017 | 3:15 PM  Morningstar interprets recent comments by outgoing ASIC chairman Greg Medcraft as a reflection of his concerns regarding the lack of understanding of the securities among many retail investors.

28/06/2017 | 10:35 AM  Being benchmark agnostic is the most effective approach to fixed-income investing, according to Anujeet Sareen, portfolio manager, Brandywine Global.

09/06/2017 | 11:08 AM  Standard & Poor's downgrade of Australia's major bank-issued subordinated and hybrid securities last month is a negative but not a deal-breaker for well-informed retail investors.

07/06/2017 | 10:31 AM  The head of PIMCO Australia gives his views on active management in fixed income and tells us where he sees most value in this space.

05/06/2017 | 8:32 AM  Hybrid securities have continued to perform strongly in 2017, rallying almost 50 per cent in some instances.

15/05/2017 | 8:02 AM  While an imminent surge in yields appears unlikely, there are still attractive opportunities for fixed-income investors in the current environment.

10/05/2017 | 11:42 AM  Australian investors are typically under-exposed to global fixed-income markets--both developed and emerging--where political shifts and fiscal volatility are creating attractive buying opportunities.

26/04/2017 | 1:35 PM  The ASX provides investors with access to interests in Australian government bonds that can be traded at any point prior to maturity.

31/03/2017 | 12:02 PM  Interest rate risk is ratcheting up, with a high likelihood of international bond returns slipping into negative year-on-year figures by June 2017, says the head of credit specialist Bentham Asset Management.

21/03/2017 | 6:06 PM  Australian bonds see only a slight tremor in response to the Fed's rate rise, says John Likos, Morningstar's senior credit analyst, who also provides insights on the new, and anticipated, hybrids from Australian banks.

28/02/2017 | 9:36 AM  Challenger Limited will raise $350 million via capital notes to be listed on the ASX called Challenger Capital Notes 2 (ASX Code: CGFPB).

22/02/2017 | 10:30 AM  Strong supply dynamics should create significant opportunities for hybrid investors this year, says John Likos, senior credit analyst, Morningstar Australia.

20/02/2017 | 10:31 AM  Commonwealth Bank will raise $750m via a Tier 1 hybrid issue, to be listed on the ASX, called CommBank PERLS IX Capital Notes (ASX: CBAPF).