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10

Aussie Hazards From Mortgages to Mines Lift Macquarie Bond Risk

By Tony Seruga

Cost of insuring bank unit debt near highest since June 2013
Unease about exposure to home loans, commodity market downturn

Those Australians struggling with mortgage payments and the possibility of damage from the global commodity price slump are helping to inflate bond risk for Macquarie Group Ltd.’s banking unit.

The cost of insuring Macquarie Bank notes against non-payment climbed to as much as 172 basis points last month, the highest since June 2013, after the lender flagged a rise in overdue home loans. The Sydney-based bank’s credit-default swaps have increased 39 basis points in 2016, the second most in the benchmark Markit iTraxx Australia index, and were at 155 basis points April 8…

Aussie Hazards From Mortgages to Mines Lift Macquarie Bond Risk

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