Hybrid securities opportunities

24 October 2016

 

YieldReport is rather fond of yield-versus-maturity scatter diagrams as they show at a glance where the anomalies lie when they exist. Evans and Partners’ Head of Income Products, Michael Saba, recently produced a scatter diagram for major bank hybrids (see below) and then made a few observations. “The scatter diagram shows where the value is. Switch from ANZPC to WBCPC or CBAPC. Around the CBAPC maturity WBCPD offers better value. With the...

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