GOVERNMENT SECURITIES

Sovereign debt could well be the driver of the next share selloff

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Original article by Philip Baker
The Australian Financial Review – Page: 32 : 6-Oct-16

Australia’s benchmark S&P ASX 200 is currently trading on a forward price-earnings ratio of around 16 times, compared with its long-term average of about 14.5 times. The index reached a 2016 high of 5,587 points at the start of August, and despite a number of pullbacks it is still three per cent higher than at the start of the year. However, the prospect of an eventual end to quantitative easing by central banks is likely to put upward pressure on government bond yields, which will in turn weigh on sentiment toward equities.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, ROYAL BANK OF SCOTLAND GROUP PLC, THE GOLDMAN SACHS GROUP INCORPORATED, JP MORGAN CHASE AND COMPANY, UNITED STATES. FEDERAL RESERVE BOARD, FEDERAL RESERVE BANK OF RICHMOND, SYDNEY AIRPORT – ASX SYD, TRANSURBAN GROUP LIMITED – ASX TCL

Global fundies not counting on a crash

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Original article by Vesna Poljak, Jonathan Shapiro
The Australian Financial Review – Page: 15 & 22 : 15-Sep-16

Investors have been warned to expect further volatility in equity markets until the US Federal Reserve resumes increasing interest rates. Many global fund managers anticipate that the central bank will begin tightening monetary policy soon, although they generally expect rates to rise gradually. The recent equities sell-down has boosted government bond yields, and there is growing concern that the bond market’s long bull run may be nearing its end.

CORPORATES
UNITED STATES. FEDERAL RESERVE BOARD, STANDARD AND POOR’S ASX 200 INDEX, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, K2 ASSET MANAGEMENT HOLDINGS LIMITED – ASX KAM, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM

‘Something’s gotta give’: rising stocks, bonds and gold sound alert

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Original article by Michael Roddan
The Australian – Page: 19 & 27 : 13-Jul-16

The Australian sharemarket has gained six per cent since reaching its recent low in the wake of Great Britain’s vote to leave the European Union. Meanwhile, the S&P 500 has risen by 16 per cent since February 2016, and it reached a record high in mid-July. Traditional safe haven investment classes are also in strong demand, with the yield on 10-year Australian government bonds remaining close to a record low and the gold price testing its highest level in more than two years.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, MACQUARIE GROUP LIMITED – ASX MQG, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, BAKER STEEL CAPITAL MANAGERS LLP, UNITED STATES. FEDERAL RESERVE BOARD, BELL POTTER SECURITIES LIMITED, PERPETUAL LIMITED – ASX PPT, JAPAN. OFFICE OF THE PRIME MINISTER, NIKKEI 225 INDEX