Summary-
The ASX hybrid market wrapped up the day on a strong note, led by Latitude’s LFSPA, which surged 1.67% to $96.20, delivering a standout 9.42% running yield—the highest among its peers. Challenger’s CGFPC also caught the spotlight with a 1.36% gain, backed by a solid 3.61% trading margin and an attractive 8.63% yield. Westpac’s WBCPH climbed 1.21%, offering a generous 7.76% trading margin as investors showed renewed interest in shorter-dated, high-margin issues. Macquarie Group’s MQGPD was another strong performer, rising 1.02% thanks to its appealing risk-reward profile and a yield of 8.12%. Rounding out the top movers, Judo Capital’s JDOPA reaffirmed its reputation as a high-yield favourite, closing at $110.90 with an eye-catching 9.74% running yield—the highest on the board.
Meanwhile, perpetual hybrids softened slightly, with Nufarm’s NFNG dipping 0.06% to $90.35—still delivering a robust 9.06% yield—and Ramsay’s RHCPA easing 0.05%, holding comfortably above par at $105.58 with a solid 8.64% return for yield-seeking investors.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 7.76% | 1.21% | 100.56 | 7.47% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.87% | 0.69% | 101.80 | 8.53% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.82% | 0.55% | 101.87 | 8.71% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 3.61% | 1.36% | 102.40 | 8.63% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.41% | 0.45% | 102.55 | 7.98% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.13% | 0.02% | 101.65 | 7.05% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 2.79% | 1.02% | 102.65 | 8.12% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 2.59% | 0.89% | 100.92 | 6.86% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 9.42% | 1.67% | 96.20 | 9.42% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 3.52% | 0.59% | 102.50 | 7.53% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.69% | -0.16% | 103.14 | 6.95% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.82% | 0.45% | 103.42 | 7.77% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.83% | 0.68% | 102.73 | 7.77% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.72% | 0.85% | 101.10 | 6.99% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.52% | 0.64% | 103.13 | 7.44% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 2.03% | 0.17% | 103.07 | 6.94% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 2.46% | 0.55% | 101.89 | 6.89% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.58% | 0.56% | 101.70 | 6.95% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 3.31% | 0.81% | 103.09 | 7.48% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.73% | 0.44% | 101.50 | 6.97% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 3.05% | 0.79% | 102.00 | 7.43% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 3.60% | 0.67% | 110.90 | 9.74% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.47% | 0.53% | 101.44 | 6.76% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 3.12% | 0.95% | 103.05 | 7.58% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.42% | 0.57% | 102.00 | 6.78% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 3.40% | 0.87% | 102.94 | 7.57% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.85% | 0.88% | 103.96 | 7.58% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.65% | 0.77% | 102.69 | 7.13% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 3.09% | 0.63% | 102.10 | 7.05% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.59% | 0.55% | 101.39 | 6.81% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.48% | 0.64% | 103.04 | 6.96% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.80% | 0.60% | 101.01 | 6.90% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.47% | 0.53% | 102.31 | 6.81% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.75% | 0.32% | 103.01 | 7.16% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 3.33% | 0.76% | 102.01 | 7.33% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.62% | 0.66% | 102.08 | 6.91% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.79% | 0.50% | 104.30 | 7.09% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.49% | 0.41% | 101.75 | 6.70% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 2.55% | 0.71% | 101.27 | 6.68% |
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% | 4.93% | -0.06% | 90.35 | 9.06% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.51% | -0.05% | 105.58 | 8.64% |