insto - Australian financial markets

HSBC (Aa2 / AA / AA) has announced a benchmark size 5-year fixed rate A$ transaction.
Price guidance is Swap + 125bpts area (sa/qtly).

The unsecured and unsubordinated bonds will be priced tomorrow.

HSBC is the sole bookrunner on the transaction. Joint leads are ANZ, CBA, HSBC, NAB and Westpac.

While monetary policy decisions taken in Washington can still influence emerging markets, their future growth may not be driven by the US economy, write Richard Yetsenga* and David Bloom*.

Mortgage finance lender FirstMac today (10 November) successfully upsized, placed and priced an RMBS deal with the support of the AOFM. The transaction was initially launched at A$400 million but was increased to A$470 million following greater than anticipated investor bids.

The FirstMac 2-2009 placement, arranged by HSBC Bank, includes A$215.14 million from the AOFM as a cornerstone investor, with A$254.86 million provided by an additional six domestic investors.

While monetary policy decisions taken in Washington can still influence emerging markets, their future growth may not be driven by the US economy, write Richard Yetsenga* and David Bloom*.

Insto editor Bernard Kellerman spoke to Paulo Maia, HSBC Australia's new CEO about his bank’s performance and, as an ex-debt capital markets expert, his views on where the domestic deals are heading.

Insto: Who do you see as your main competitors?

At a time of plenty for our financials on the red hot US bond markets, one of the Big Four banks found itself given a warm welcome in Europe.

While Australia's major banks continued to issue in size and volume, Euro denominated debt markets had not been shown much love.

As the price of gold hit four figures for only the third time ever, its rebirth coincides with the dawn of a golden age for the Asian bond market.

An AMP Capital fund has mandated HSBC to invest in inflation linked bonds. Sinopia, a quantitative fund manager of part of HSBC’s Global Investments business will manage global passive inflation linked bond exposure for AMP Capital’s FutureDirections Diversified Funds.

US stocks surged out the gates in August as strong manufacturing data added fuel to a strong market rally.

The Dow closed up 1.25 per cent to 9289 while the S&P500 broke the 1000 point barrier gaining 1.53 per cent to 1,003. The index reached an important technical milestone but remains 36 per cent lower than its all time high.