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19 August 2026
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The Australian credit landscape is shifting. Yields are rising, issuance is strong and spreads continue to tighten. Income is re‑emerging as the dominant driver of returns, though pockets of risk may be building beneath the surface.
During the pandemic, the RBA’s balance sheet swelled to over $600 billion, which is now steadily shrinking. This explores the implications for financial markets, interest rates, and the economy’s path forward.
Supposedly a defensive asset class, bonds have endured a horror four years. A massive boom preceded a massive bust, though the recent downdraft means future prospects appear brighter for high quality bonds.
As investors navigate a potential recession and the possibility of higher interest rates for longer, the lure of fixed income is understandable. Here a primer to help investors decide which bonds may be best for them.
The Australian fixed income landscape has changed with conditions now likely to provide many of the defensive attributes that investors have traditionally expected. Asset allocations should be reviewed to reflect this.
The momentous rise in government bond yields since last year has had one unexpected effect: shrinking income distributions. This may be surprising given bond managers have been able to reinvest at progressively higher yields.
The Fed has finally signalled its intention to control inflation by reducing demand, and investors must become less comfortable with their financial prospects. Investing has changed and the consequences are serious.
There are plenty of voices on both sides of the inflation argument, but the ultimate impact of COVID should be deflationary. Australia is one of the last places to expect worrying signs of inflation rising.
The impact of the pandemic on Australia's debt and deficit has forced the government into borrowing on a scale unimaginable at the start of 2020. What are the implications, and what is even more important?
The 60/40 diversified portfolio has been the mainstay of the superannuation industry for decades. But it is built on a fundamental principle of defensive bond returns, and its time is nigh.
Going back to June 2019, investors would have questioned the logic of diversifying away from outperforming growth assets. But when markets feel at their best, it is paramount to keep a perspective on long-term goals.
Do you think investors can only lose heavily on bonds if the credit defaults? When bondholders accept 0.88% for 100 years, there is great potential for serious pain somewhere along the journey.
Treasury has confirmed the exemption many families were hoping for. But buried in the fine print are two conditions that could leave some wills on the wrong side of the exemption, despite years of careful planning.
The defining challenge of retirement isn't just about building wealth, it's about converting your lifetime savings into sustainable income. A holistic understanding of different strategies can improve long-term outcomes.
After four decades advising investors, there are a few common mistakes I've seen SMSF investors make. From holding too much cash and chasing yield to overtrading and trusting tips. Are these errors costing you?
Most Australians approaching retirement can tell you the exact dollar value of their super account. But success depends on more than a sizeable balance. Here's four key questions to ask yourself at the start of the financial year.
Lithium's latest sell-off has punished ASX miners as prices remain hostage to shifting expectations. The key challenge is navigating a market prone to extreme volatility despite a strong case for the long-term demand outlook.
New data challenges the idea that Australians are underspending their super. The bigger issue may be helping retirees navigate complexity, make confident decisions and use their savings to support security, wellbeing and choice.