Summary-
Here are a few key points from the close of March 3rd, 2025:
- Top Performers in Day Change:
- Judo Capital (JDOPA) showed a significant drop of -1.18% in the day change, with a close of 116 and a strong 9.17% running yield.
- Latitude (LFSPA) saw a modest decline of -0.23%, closing at 97.4, but still maintaining a solid running yield of 9.17%.
- High Running Yields:
- Several notes continue to offer high running yields, such as AMP Group (AMPPB) at 8.46%, Macquarie Bank (MBLPC) at 8.61%, and Challenger (CGFPC) at 8.45%.
- Stable Capital Notes:
- CBA (CBAPG) and Westpac (WBCPH) remain relatively stable, with small daily changes and running yields of 7.53% and 7.27%, respectively. These notes show consistent performance with minor fluctuations in their daily closes.
- Notes with Positive Day Changes:
- Suncorp (SUNPH) had a strong day, with a positive 0.57% change, closing at 101.85 and a running yield of 6.95%.
- Macquarie Group (MQGPD) also saw a positive day change of 0.92%, closing at 103 with a yield of 8.00%.
- Maturity Dates and Future Outlook:
- Longer-dated notes, such as Macquarie Group (MQGPE) with a maturity date of Sep 2027, and Suncorp (SUNPJ) with a maturity date in Jun 2030, still maintain steady yields and modest price movements. These could appeal to those seeking long-term hybrid investments.
For ASX-listed Hybrids (non-standard) on 3rd March 2025:
- Nufarm (NFNG) showed a slight increase of 01% in its trading margin, closing at 94.5 with a solid 8.80% running yield, despite its perpetual maturity.
- Ramsay Health Care (RHCPA) saw a small rise of 03% in its trading margin, closing at 107.79, and maintaining a strong 8.61% running yield on its perpetual preference shares.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| ANZ Bank | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | 8.34% | 0.32% | 101.07 | 7.92% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 7.39% | 0.37% | 101.2 | 7.53% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 2.45% | -0.02% | 101.97 | 7.27% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.47% | -0.04% | 103.4 | 8.46% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.06% | -0.33% | 103.7 | 8.61% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.16% | -0.17% | 103.13 | 8.45% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.28% | -0.02% | 104 | 7.92% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 1.35% | 0.57% | 101.85 | 6.95% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 2.05% | 0.92% | 103 | 8.00% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.70% | -0.48% | 103.23 | 6.73% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 7.43% | -0.23% | 97.4 | 9.17% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 1.96% | -0.17% | 104.4 | 7.29% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.93% | -0.39% | 103.8 | 6.94% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.04% | 0.03% | 104 | 7.62% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 1.30% | -1.12% | 105 | 7.50% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.16% | 0.64% | 101.98 | 6.87% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.09% | -0.07% | 105.3 | 7.33% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.80% | -0.18% | 104.53 | 6.87% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 2.09% | 0.05% | 103.9 | 6.79% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.18% | 0.47% | 101.99 | 6.84% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 1.92% | -0.27% | 106.19 | 7.17% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.07% | -0.01% | 102.8 | 6.80% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.14% | 0.37% | 103.93 | 7.20% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 1.70% | -1.18% | 116 | 9.17% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 1.95% | -0.06% | 103.87 | 6.62% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.61% | 0.22% | 103.84 | 7.42% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.13% | 0.02% | 103.96 | 6.69% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.41% | -0.01% | 105.47 | 7.30% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.07% | 0.68% | 106.01 | 7.35% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.03% | -0.06% | 105.95 | 6.95% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.10% | 0.00% | 104.69 | 6.78% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.12% | 0.00% | 103.95 | 6.66% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.07% | 0.02% | 105.7 | 6.82% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.22% | 0.28% | 102.46 | 6.72% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.15% | 0.04% | 104.65 | 6.69% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.55% | 0.56% | 103.03 | 7.07% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.53% | -0.14% | 104.62 | 7.07% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.11% | 0.07% | 105.06 | 6.74% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.05% | -0.03% | 106.85 | 6.83% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.31% | 0.35% | 101.89 | 6.61% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 2.01% | -0.05% | 104.88 | 6.48% |
ASX-Listed Hybrids (Non-standard)
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 4.70% | 0.01% | 94.5 | 8.80% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.51% | 0.03% | 107.79 | 8.61% |