Research Articles
Over the last 5 years, total arrears by non-bank lenders have consistently outperformed major bank, regional bank arrears and the SPIN index. This fact generally
In the article below we explore whether the case study is a one-off, or an increasingly common example of when market prices dislocate due to
The impressive recovery in the Australian labour market has brought forward expectations for the timing of the RBA’s first cash rate hike. Earlier this month,
When interest rates on deposits are so low, and are likely to stay this way for many years, it is worth checking if investment arrangements
The Australian Treasury expects that 60% of the economy can be recovered once we achieve Stage 3 of National Cabinet’s re-opening plan. This correlates with
Discussions on unwinding COVID-related social distancing measures have moved to the fore. Australia’s leaders have managed the crisis relatively well so far. In doing so,
Both the Fed and ECB are in the process of reviewing their approach to monetary policy. Over time, central banks have materially changed their approach
Realm Investment House has reviewed the Labor policy proposal to deny franking credit refunds and concludes that Industry Funds stand to gain at least $20bn
For non-fixed interest investors this story hasn’t had a great deal of attention, however for those of us focussed on domestic credit, the TLAC development
The term premium is the difference between bond yields for a given maturity and the expected path of short term interest rates over the same
We have reviewed recent commentary out of APRA and added some of our own thoughts around the current debate. This informs our outlook and positioning
Ken Liow talks about forecasting and reactions to data, in light of recent GDP figures Download File
Realm discusses the RMBS market outlook for 2019 in the wake of a dynamic 2018 Download File
Risk markets have experienced heightened volatility over the last three months, as a myriad of geopolitical risks and softer global economic data have driven market
AOFM to support public ABS/Non-Conforming RMBS issuance Download File
Realm AT2 Review October 2018 Due to the nature of this file, we require your contact details so we can send it to you via
Realm AT1 Review October 2018 Due to the nature of this file, we require your contact details so we can send it to you via
T2 Capital Review October 2018 Due to the nature of this file, we require your contact details so we can send it to you via
US Housing Crisis… Can it happen here? Download File
As an investor in financial debt, we are preoccupied with the type of environment that could create events such as non-viability or create an impairment
Realm Australian System Risk Monitor – An Explanation Due to the nature of this file, we require your contact details so we can send it
The Realm Investment Team have spent the last couple of days speaking to treasurers and key influencers to build a view around the AT1 market
The Realm Quant Team take a deep dive into the drivers behind the current Bitcoin mania. Download File
A Systematic Approach to Understanding Bitcoin Due to the nature of this file, we require your contact details so we can send it to you
Realm Investment Manager Note: US 10 Year Bond Implied Target hits 3% Download File
Securitisation is one of the oldest forms of secured financing techniques. It is as old as banking, and it is a simple form of financing.
Residential Mortgage-Backed Securities (RMBS) – Emerging from hibernation with improved liquidity Download File
This note looks at addressing one of the most prevalent topics in society at the moment, Bitcoin and blockchain technology. Ambiguity exists between the infamous
Update on the Federal budget and its implications on Banks Download File
An update on how Realm views the AT1 market and recent APRA comments Download File
Discussion on the funds exposures and thoughts on market rates and risks Download File
Notes on Realm’s AT1 strategy and prevailing environment Download File
Thoughts on Bank Credit Markets as exampled on Deutsche Bank by Andrew Papageorgiou Download File
Does the eligibility of RMBS tranches rated AAA for repo with the RBA increase liquidity of the entire RMBS market? Would a similar liquidity support
Realm Update – Investment Committee Resilience or Complacency Download File
A deeper look into the Importance of Low Long Term Rates to the US Economy Download File
A Quick Summary of the Importance of Low Long Term Rates to the US Economy Download File
Fitch, the rating agency, downgraded China’s credit rating in April from AA- to A+ , and has recently described the credit bubble residing in the
Increasing Discussions around Federal Withdrawals Download File
Review: Richard Kerr provides an assessment of the recent action of the Bank Of Japan and what it might mean for Currencies, Bonds and Gold.
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Competition for Funding, and the role LCR plays. Due to the nature of this file, we require your contact details so we can send it
Looks at how market dynamics and investor appetites have impacted the view of the credit asset class. Download File
The Impact of the LCR amendments by the BIS Download File
The article touches on the impact of the unwind in the safety bubble. Download File
Is it too late for Germany to turns its back on Europe? Download File
When we look a little below the surface at the behaviour of the return seeking participants, what can be observed is a fight for relevance
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Currency Returns – Where do they come from and are they worth the risk? Download File
The cycle of European governments and regulators attempting to manipulate bond valuations via liquidity initiatives has failed miserably. This has been clearly illustrated by the
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Commodities and the Australian terms of trade have been a key topic of discussion over the last week. The Australian terms of trade are primarily
State Governments are being challenged by falling revenues and rising liabilities. Weakness in retail sales and changing consumer behaviour is reducing GST revenue (internet sales
Point forecasts of any currency are perilous to make and invariably wrong. The AUD is, as we all know, one of the toughest to get
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