Insights
Quick reads on markets and policy
Written for practitioners and informed investors—free to read, dated and sourced. You’ll find short market and macro notes that explain moves and policy shifts without the noise; evergreen principles that clarify risk, ranges and behaviour; and concise explainers on the themes we’re asked about most. When doing nothing is the right call, we say so.
The Portfolio Hidden Inside a Bank Hybrid
As Australia’s bank hybrids are phased out, the capital comes back with several plausible destinations. Making their income figures comparable is only the start of deciding what belongs in the portfolio next.
The Put Premium That Commits You to Buy
A cash-backed put pays cash at inception, but the seller’s exposure keeps changing as the shares fall. Before assignment, the position can behave increasingly like the underlying equity.