How the bond markets have responded to Trump's win
Mark Kiely, Antares Fixed Income talks with Sky News about the bond markets response to the Trump's win, the limitations of QE and the potential impact of additional fiscal policy. A US rate hike in December and additional hikes throughout 2017 are discussed along with higher US treasury yields and rising inflation expectations. The US election and Brexit were votes for a change. With an Italian referendum to be followed by elections in France and Germany in early 2017 the risks of a EU breakup are rising but not yet priced by markets.
QE – "Horses for Courses"
Ken Hyman, Tano Pelosi and Mark Kiely discuss the different retail savings and investment characteristics of Japan and Europe versus the "English Speaking" countries and how consumers have responded to Quantitative Easing in these countries.
Commodity markets revival, Australia’s GDP and central bank inactivity
Dr Tano Pelosi discusses the release of today's trade balance data and what the recent revival in commodity markets means for Australia's GDP and rate markets. Dr Pelosi also analyses the current wave of central bank (in)action and what needs to occur to lift income per capita.
The Path For Future Hikes For The Fed
Dr Tano Pelosi considers the path for future hikes for the Fed and the risks around the widely anticipated December meeting. Dr Pelosi touched on the Italian referendum, Brexit and tightening financial conditions as all possible reasons for the FOMC to remain sidelined through the end of this year. With central banks becoming more reactive, inflation risks are rising. Some ideas on how to hedge against this are outlined.
Libor surges ahead of money fund market reforms
Mark Kiely discusses the defacto tightening we have seen in the US as Libor rates have risen due to new rules around money market funds. Kiely talks about the large volume of money priced using the US Libor and the rise in the cost of money for banks in the US market. With monetary policy losing its effectiveness Kiely also talks about the shifting mood of central banks, including the BoJ and ECB. Markets can no longer rely on the central bank put and need to position for some slight tapering.
The Bank of Japan Policy Response
Following the recent BOJ announcement, Dr. Tano Pelosi cosiders what the next phase of monetary policy is likely to look like. Dr. Pelosi challenges the view that the BOJ has exhausted all of its monetary policy options and is instead laying the ground-work for a more significant stimulus package, whilst maintaining safeguards over the extent to which long bond yields become negative.
Central banks continue to drive yield curves but policy shifts are likely
Antares Fixed Income Portfolio Manager Mark Kiely discusses upcoming central bank meetings and market expectations. Mark talks about the potential for the Bank of Japan (BoJ) and the Federal Reserve to move markets with the key event being a likely policy shift by the BoJ. The unintended consequences of very low long term bond yields is also considered along with the probability that we won't see any further cash rate easings in Australia.
Has QE run its course?
After a few days of heightened market volatility, Ken, Tano and Mark look at the outcomes from the G20, pending announcements from the BoJ and Fed and what a lower reliance on monetary policy may mean for markets.
Q2 GDP – Cyclical and structural issues facing the Australian economy
Dr Tano Pelosi provides initial thoughts on Q2 GDP as its released and considers the risks facing the Australian economy over the medium term. Cyclical and structural issues are considered in this extended interview.
A growing call for fiscal spending to step up?
Ken Hyman discussing the diminishing returns from QE and monetary policy and the growing focus on fiscal measures alongside QE
The changing tide of fixed income markets
In this installment, Ken Hyman, Tano Pelosi and Mark Kiely from Antares Fixed Income discuss the recent fixed income market rally, pricing implications and what this may mean for Fixed Income Markets and Investors.
What Japan should do in terms of policy stimulus
Antares Fixed Income portfolio manager Dr. Tano Pelosi considers what Japan should do in terms of policy stimulus to revive growth and lift itself out of deflation. To this end the risks around debt monetisation (so-called "Helicopter money") are also considered. Following the modest June 2016 Australian Inflation report, Dr Pelosi outlines the risks around domestic inflation and makes the case for further monetary and fiscal stimulus in order to get inflation back into the RBA's 2-3% band, over the medium term.
Breaking down CPI with Antares Fixed Income.
Ken Hyman, Tano Pelosi and Mark Kiely from Antares Fixed Income discuss the Reserve Bank's recently revised CPI data, and what this and other upcoming central bank meetings may mean for Fixed Income Markets and Investors.
BOE's first decision post Brexit
Antares Fixed Income portfolio manager Dr. Tano Pelosi looks at the BOE's first decision post Brexit, the need for government authorities to do more on the fiscal side and the issues around "helicopter money" and its implications for economies and global bond markets alike. Dr Pelosi outlines what he believes are the three most important lessons the RBA should head when observing the experience of other central banks in recent years.
Brexit – The day after
Antares Fixed Income portfolio manager Dr. Tano Pelosi looks at the result of the Brexit vote and the economic and political risks for the Europe. Key investment implications from Brexit are also discussed.
The Brexit vote and implications for global markets – Is this the beginning of the end of European integration ?
Antares Fixed Income portfolio manager Mark Kiely speaks on SKY Business Live as the Brexit votes were being counted and comments about what we may expect over coming days, months and even years. Is this the beginning of the end of European integration?, Is France next ?
Overview of Australia’s Q1 GDP
Antares Fixed Income portfolio manager Dr. Tano Pelosi gives an overview of Australia’s Q1 GDP with a focus on the factors important to the bond market. The outlook for domestic investment is given and reasons for weak capex are explored.
What is driving Australia's inflation and the Outlook for Australian interest rates
Antares Fixed Income portfolio manager Dr. Tano Pelosi speaks on SKY Business examining the factors behind Australia's weak inflation path and the implications for the medium term interest rate outlook. The viability of the RBA's 2-3% inflation mandate is also discussed.
Prediction for Australian interest rates and Outlook for the FOMC
Antares Fixed Income portfolio manager Dr. Tano Pelosi speaks on SKY Business arguing the case for a rate cut at the RBA's upcoming May meeting, despite the majority of economists and market looking for no change. The prospects for the FOMC are also considered in light of the recent Q1 GDP data.
Challenges for global monetary policy and implications for investors
Antares Fixed Income Portfolio manager Tano Pelosi speaks on SKY Business looking at the efficacy of current central bank policies in stimulating economic growth and what investors should be considering in such a difficult investment climate.
Mitigating risk for steady market returns
Antares Income Fund
Antares Income Fund Portfolio Manager Mark Kiely details how the fund mitigates risk to achieve steady market returns.
Antares Income fund finds stability in uncertainty
Antares Income Fund
Since the GFC, risk has been at the front of income investor’s minds. Mark Kiely tells FNN how Antares manages risk in uncertain times.
Antares Income Fund targets steady income
Antares Income Fund
Antares Income Investment Manager, Ken Hyman speaks to FNN about its new income fund, including what the fund offers investors and how it targets steady returns.
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