26 February 2026

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Ray Dalio on 2025’s real story, Trump, and what’s next Making sense of record high markets as the world catches fire 3 ways to fix Australia’s affordability crisis Is there a better way to reform the CGT discount?How cutting the CGT discount could help rebalance housing market

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Home / Credit Spreads

Credit Spreads

1-10 out of 10 results.

Levered credit: A late cycle ingredient for drawdown pain

Phil Strano
25 February 2026

As credit spreads normalised through 2025, yield‑hungry investors have turned to leverage for high returns, uncomfortably echoing pre‑GFC behaviours. Investors need to be careful to understand the true risk‑return trade‑off.

Five possible market scenarios guide your asset allocation

Charlie Jamieson
7 September 2022
1

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.

The forgotten asset class set to outperform in 2022

Roy Keenan
13 April 2022
6

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.

Bond basics and four messages in the search for yield

Nathan Boon
18 November 2020
4

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.

Opportunities across the capital structure

Christopher Joye
28 June 2018
3

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.

The outlook for Australian banks

Rudi Filapek-Vandyck
6 June 2018
2

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.

Turbulence creates opportunities for bonds and hybrids

Christopher Joye
5 April 2018
3

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.

Watch the low returns on 'high yield' debt

Jonathan Rochford
3 August 2017

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.

What credit spreads reveal about share markets

Ashley Owen
12 May 2016
4

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.

Global credit valuations: are we there yet?

Tony Adams
3 March 2016

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?

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Most viewed in recent weeks

Ray Dalio on 2025’s real story, Trump, and what’s next

The renowned investor says 2025’s real story wasn’t AI or US stocks but the shift away from American assets and a collapse in the value of money. And he outlines how to best position portfolios for what’s ahead.

James Gruber
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James Gruber
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3 ways to fix Australia’s affordability crisis

Our cost-of-living pressures go beyond the RBA: surging house prices, excessive migration, and expanding government programs, including the NDIS, are fuelling inflation, demanding bold, structural solutions.

James Gruber
4 February 2026

Is there a better way to reform the CGT discount?

The capital gains tax discount is under review, but debate should go beyond its size. Its original purpose, design flaws and distortions suggest Australia could adopt a better, more targeted approach.

Matthew Maltman, Matt Nolan
11 February 2026

How cutting the CGT discount could help rebalance housing market

A more rational taxation system that supports home ownership but discourages asset speculation could provide greater financial support to first home buyers.

Jago Dodson, Liam Davies
18 February 2026

Welcome to Firstlinks Edition 648 with weekend update

This is my last edition as Editor of Firstlinks. I’m moving onto a new role though the newsletter will remain in good hands until my permanent replacement is found.

5 February 2026

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