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9 October 2025
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In volatile markets, asset allocation should consider scenarios based on differing likelihoods. There are always a number of low probability, extreme outcomes so don't assume the central case is the only possibility.
Australian investors are searching for investments that can benefit from evolving market conditions. With credit spreads at attractive levels, now might be the opportune time to have exposure to hybrids and credit.
Bonds have been strong performers over many decades and always play a role in defensively-positioned portfolios. There are some basic principles investors should understand such as the types of yield.
While property and equity markets remain expensive by historical standards, yields achievable relative to risk remain strong in the hybrid market, notwithstanding recent upticks in price.
Australian banks appear cheap and their shares trade below broker targets. But three analysts offer deeper explanations that suggest stronger credit standards will affect house prices and credit growth.
Factors relating to technical adjustments, timing of bank reporting and offshore influences have created wider spreads on bonds and hybrids which should mean revert in time.
Investors seeking yield need to watch the margin contraction on so-called 'high yield' debt, especially since the protective covenants are weaker than in the past.
Understanding how credit spreads relate to share prices and what they can reveal about where we are in the stock market cycle can be useful information for the long-term investor.
The market has seen a major widening of credit spreads as investors demand greater compensation for liquidity risk. Has the market reached the point where it offers value?
LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.
Younger Australians think they’ll need $100k a year in retirement - nearly double what current retirees spend. Expectations are rising fast, but are they realistic or just another case of lifestyle inflation?
This week, I got the news that my mother has dementia. It came shortly after my father received the same diagnosis. This is a meditation on getting old and my regrets in not getting my parents’ affairs in order sooner.
Retirement can be daunting for Australians facing financial uncertainty. Understand your goals, longevity challenges, inflation impacts, market risks, and components of retirement income with these crucial charts.
Five mega trends point to risks of a more inflation prone and lower growth environment. This, along with rich market valuations, should constrain medium term superannuation returns to around 5% per annum.
Australia's superannuation system faces a 'Rubicon' moment, a turning point where the focus is shifting from accumulation phase to retirement readiness, but unfortunately, many funds are not rising to the challenge.