Yield Matters   

11 December, 2018

XTB Price Sheets

What's in store for bond markets in 2019?

CIO Ian Martin shares his views

A key piece of the puzzle will be put in place when the Federal Reserve meets on 20 December. Despite the Chairman’s recent comments which are interpreted as dovish, I still expect the fourth 0.25% rate hike to occur taking the upper band of the overnight rate to 2.50%.

2019 key expectations

  • US 10-yr bond to reach 3.75%, up 0.75% from current levels
  • At least 2 more rate hikes by Fed to 3% after the expected move in Dec
  • AUD 10-yr will possibly move 50bp higher, but not as high as the US 10-yr 
  • RBA expected to remain on hold during 2019
  • AUD 3-yr continue to trade in a range closely tied to RBA rate.

Infographic: Top 10 economic indicators on bonds

CIO Ian Martin's checklist of economic indicators

What are the key indicators impacting Aussie bonds? Which ones have the most impact on market sentiment and subsequently our investments?

Our infographic highlights the key indicators CIO Ian Martin looks at. It's a handy reference to work out which indicators you should focus on. We also list when they are announced so you can time your investment decisions accordingly.


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XTB portfolios are reviewed monthly, but turnover is very low with bonds designed to be held to maturity so clients know what they are getting from start to finish.

Most Popular XTBs in November 
  1. YTMDX2: Dexus 4.25% 11 MAY 2027
  2. YTMQF3: Qantas 7.75% 19 MAY 2022
  3. YTMF09: Macquarie Group BBSW + 1.10% 03 MAR 2020
* By number of XTB units purchased on ASX from 27 Nov to 10 Dec 2018

Upcoming XTB coupons

11 DEC: YTMQF2 - Qantas 7.750% 11 JUN 2021 
19 DEC: YTMNVN - Novion 5.00% 19 DEC 2019
28 DEC: YTMAST - Ausnet Services 5.75% 28 JUN 2022

Keep up to date with XTB coupon dates on our website calendar, or follow us on Twitter or LinkedIn

 Recent bond transactions 

10 DEC: TR Group to sound investors for potential five - year domestic deal
07 DEC: Deal and ratings review, week ending 7 December 2018 
07 DEC: Liberty prices A$250 million auto ABS deal
07 DEC: Domestic focus smooths Latitude's New Zealand ABS debut
06 DEC: Qudos Mutual prices A$15 million one-year FRN
06 DEC: NWB Bank prices A$75 million July 2028 kangaroo tap

KangaNews has an excellent summary of the latest bond transactions: View here

Contact us

If you have any questions on the content included in Yield Matters or need help with anything regarding XTBs, please contact us on 1800 995 993 or email
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