Summary-
27th May 2025 story showed Judo Capital’s JDOPA take the spotlight, topping the charts with a running yield of 9.45% — the highest for the day. Coming in close, Latitude’s LFSPA delivered a solid 8.99%, while Macquarie Bank’s MBLPC followed with a respectable 8.31%.
But the real head-turner was Westpac’s WBCPH (Capital Notes 5). With maturity approaching in September, it surged. A strong 1.19% daily gain pushed it to 101.151, driven by a trading margin of 10.47%. Running yield? 7.06%.
Challenger’s CGFPD also made strides, rising 0.43%, with CBA’s CBAPI and Macquarie’s MQGPF close behind — up 0.42% and 0.40% respectively.
On the flip side, ANZ’s AN3PI took a step back, dropping -0.28% — the biggest dip of the day.
In the perpetuals space: Nufarm advanced 0.43%, closing at 87.5 with an attractive 8.84% yield. Ramsay Health Care saw a minor slip of -0.03%, settling at 106.72, still offering a healthy 8.13% yield.
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 | 22/09/2025 | 3.20% | 10.47% | 1.19% | 101.151 | 7.06% |
| AMP Group | AMPPB | Capital Notes 2 | 16/12/2025 | 4.50% | 2.79% | -0.11% | 102.6 | 8.13% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22/12/2025 | 4.70% | 2.71% | 0.21% | 102.6 | 8.31% |
| Challenger | CGFPC | Capital Notes 3 | 25/05/2026 | 4.60% | 4.63% | 0.21% | 102.4 | 8.30% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17/06/2026 | 4.00% | 2.10% | 0.09% | 103.65 | 7.56% |
| Suncorp | SUNPH | Capital Notes 3 | 17/06/2026 | 3.00% | 2.43% | -0.02% | 102.1 | 6.66% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10/09/2026 | 4.15% | 2.17% | 0.30% | 104.1 | 7.66% |
| CBA | CBAPJ | PERLS 13 | 20/10/2026 | 2.75% | 1.91% | -0.01% | 102.6 | 6.38% |
| Latitude | LFSPA | Capital Notes | 27/10/2026 | 4.75% | 9.89% | -0.05% | 97.08 | 8.99% |
| Westpac | WBCPJ | Capital Notes 7 | 22/03/2027 | 3.40% | 3.28% | 0.11% | 103.8 | 7.08% |
| CBA | CBAPI | PERLS 12 | 20/04/2027 | 3.00% | 2.47% | 0.42% | 102.5 | 6.64% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14/05/2027 | 3.80% | 3.51% | 0.30% | 103.15 | 7.45% |
| Bendigo Bank | BENPH | Capital Notes | 15/06/2027 | 3.80% | 2.55% | 0.36% | 104.1 | 7.33% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20/09/2027 | 2.90% | 2.12% | -0.08% | 103 | 6.49% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17/12/2027 | 3.50% | 2.25% | 0.03% | 104.55 | 7.00% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20/03/2028 | 3.00% | 1.73% | -0.28% | 104.39 | 6.49% |
| CBA | CBAPL | PERLS 15 | 15/06/2028 | 2.85% | 2.29% | 0.00% | 103.1 | 6.45% |
| Suncorp | SUNPI | Capital Notes 4 | 17/06/2028 | 2.90% | 2.35% | 0.17% | 103.1 | 6.50% |
| Westpac | WBCPL | Capital Notes 9 | 22/09/2028 | 3.40% | 2.93% | -0.02% | 105 | 7.00% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7/12/2028 | 2.90% | 2.61% | 0.21% | 102.5 | 6.53% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15/12/2028 | 3.40% | 2.57% | -0.03% | 104.25 | 6.92% |
| Judo Capital | JDOPA | Capital Notes | 16/02/2029 | 6.50% | 3.93% | 0.05% | 111.08 | 9.45% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20/03/2029 | 2.70% | 2.22% | 0.03% | 102.8 | 6.30% |
| Challenger | CGFPD | Capital Notes 4 | 25/05/2029 | 3.60% | 3.31% | 0.43% | 103.32 | 7.22% |
| CBA | CBAPK | PERLS 14 | 15/06/2029 | 2.75% | 2.23% | 0.00% | 103.38 | 6.33% |
| IAG | IAGPE | Capital Notes 2 | 15/06/2029 | 3.50% | 3.09% | 0.22% | 104.671 | 7.09% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12/09/2029 | 3.70% | 2.81% | 0.40% | 104.83 | 7.17% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17/09/2029 | 3.15% | 2.25% | -0.01% | 104.9 | 6.63% |
| Westpac | WBCPK | Capital Notes 8 | 21/09/2029 | 2.90% | 2.85% | 0.00% | 103.75 | 6.57% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20/03/2030 | 2.75% | 2.26% | -0.02% | 103.2 | 6.32% |
| CBA | CBAPM | PERLS 16 | 17/06/2030 | 3.00% | 2.21% | 0.06% | 104.9 | 6.48% |
| Suncorp | SUNPJ | Capital Notes 5 | 17/06/2030 | 2.80% | 2.45% | -0.01% | 103.1 | 6.40% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17/09/2030 | 2.80% | 2.27% | -0.11% | 103.9 | 6.35% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13/12/2030 | 3.20% | 2.66% | 0.08% | 104.2 | 6.73% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15/12/2030 | 3.20% | 3.03% | 0.13% | 103.88 | 6.83% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20/03/2031 | 2.90% | 2.19% | 0.01% | 104.52 | 6.39% |
| Westpac | WBCPM | Capital Notes 10 | 22/09/2031 | 3.10% | 2.63% | -0.01% | 105.89 | 6.64% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15/12/2031 | 2.65% | 2.48% | 0.18% | 102.45 | 6.28% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17/03/2032 | 2.60% | 2.09% | -0.10% | 104.28 | 6.13% |
ASX-Listed Hybrids (Non-standard)
| COMPANY | CODE | BOND TYPE | CALL DATE | ISSUE MARGIN (inc frank) | TRADING MARGIN | ?DAY | CLOSING PRICE | RUNNING YIELD |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 5.13% | 0.43% | 87.5 | 8.84% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.42% | -0.03% | 106.72 | 8.13% |