The Rate Debate

What do you get when you throw a 32-year-fixed-income veteran into the room with a 32-year-old fixed income millennial? The Rate Debate.

Darren Langer and Chris Rands are seasoned fixed income specialists with a deep passion for bond markets and an opinion on just about everything. And while they may sit facing each other at work, they don’t always see eye-to-eye.

Tune-in each month to hear their take on the RBA’s interest rate decision and other macro matters that are influencing markets.

Have a question you want Chris and Darren to cover in next month's episode? This email address is being protected from spambots. You need JavaScript enabled to view it..

Ep10: Tuesday 6 October 2020

Has the RBA gone too far by not going far enough?

Despite some industry heavyweights predicting a rate cut, the RBA kept rates on hold for October. What three reasons do Darren Langer and Chris Rands give that could explain the RBA’s decision? And could Donald Trump’s health really impact markets? Darren and Chris examine these topics and more in Round 10 of The Rate Debate.

Ep9: Tuesday 1 September 2020

Talk is cheap

Over the past few weeks, the RBA has started to change its narrative, suggesting that while negative rates are extremely unlikely, they’re not off the table. They’ve also hinted that a new bond buying program could be on the cards. Is the RBA just posturing or is change afoot? Darren Langer and Chris Rands examine these topics and more in episode 9 of The Rate Debate.

Ep8: Tuesday 5 August 2020

Is Australia ready for more monetary stimulus?

With Aussie bonds in high demand across the world, a growing demand for a more aggressive fiscal response from the Australian government, and a rise in COVID-19 cases in Victoria and NSW, is Australia finally ready for more monetary stimulus? Darren and Chris answer this question and more in episode eight of The Rate Debate.

Darren and Chris answer this question and more in episode eight of The Rate Debate.

Ep7: Tuesday 7 July 2020

A sting in the tail

Is the RBA too concerned with front end rates that are aimed at helping the banking sector at the expense of the taxpayer who, ultimately, will be picking up the interest cost of higher bond yields? And what will happen to employment and housing once Job Keeper comes to an end or the lockdowns are extended?

Darren and Chris go toe-to-toe on these topics and more in this month’s edition of The Rate Debate.

Ep6: Tuesday 2 June 2020

Out of step

Despite the RBA’s recent monetary and fiscal intervention, a recession still seems to be on the cards. Why is the RBA so unwilling to follow along with more unconventional policy and what are the implications of its ‘play-it-safe’ approach to solving our economic woes?

Darren and Chris go looking for answers.

Ep5: Tuesday 5 May 2020

Credit crunch or crisis?

With an expected 10% contraction in GDP, rising unemployment, and inflation at the lowest level we’ve seen in decades, how has COVID-19 impacted credit markets and what’s next for interest rates?

Darren and Chris, with special guest John Sorrell, Head of Credit, give their view on the current situation.

Ep4: Tuesday 7 April 2020

The RBA’s buying spree

The RBA has been buying up big, purchasing around $36bn in government and semi-government bonds throughout March. But when is enough, enough and can these efforts really help stave off a recession in Australia?

Darren and Chris give their view on the current situation.

Ep3: Tuesday 19 March 2020

Special Edition: The RBA Announcement

In response to the coronavirus epidemic, the RBA cut the cash rate to 0.25% and announced a number of QE measures. In the long run, will the government’s response deliver the benefits it is hoping for?

Darren and Chris explore these issues in this special edition of The Rate Debate.

Ep2: Tuesday 3rd March 2020

Down, but not out

On 3 March 2020, the RBA cut rates by 25 basis points to 0.50% in response to the coronavirus. But have they cut too early? And what happens if markets are hit with another unexpected event? With so little fuel left in the tank, how will the RBA respond?

Darren and Chris explore these issues and discuss the hazards of credit in times like this.

Ep1: Tuesday 4th February 2020

Introducing The Rate Debate

Amidst the outbreak of the coronavirus, ongoing bushfires and global trade deals, Darren Langer and Chris Rands introduce their new podcast The Rate Debate to question the RBA’s latest rate decision and discuss news that’s making headlines.




Issued by Nikko Asset Management Australia Limited ABN 34 002 542 038, AFSL 229664 (Nikko AM Australia) who is the responsible entity and issuer of units in the Nikko AM Australian Bond Fund ARSN 098 736 255 (Fund). It does not take into account the objectives, financial situation or needs of any individual. Investors should consult a financial adviser as well as the information contained in the Fund’s current Product Disclosure Statement (PDS) and ‘Additional Information to the PDS’ available at www.nikkoam.com.au/pds before deciding to invest in the Fund. Past performance is not an indicator of future performance. The information contained in this ad is of a general nature only and is not personal advice.

Issued by Nikko Asset Management Australia Limited ABN 34 002 542 038, AFSL 229664 (Nikko AM Australia) who is the responsible entity and issuer of units in the Nikko AM Australian Bond Fund ARSN 098 736 255 (Fund). It does not take into account the objectives, financial situation or needs of any individual. Investors should consult a financial adviser as well as the information contained in the Fund’s current Product Disclosure Statement (PDS) and ‘Additional Information to the PDS’ available at www.nikkoam.com.au/pds before deciding to invest in the Fund. Past performance is not an indicator of future performance. The information contained in this ad is of a general nature only and is not personal advice.