Summary: Almost $2.4 billion in ASX-listed debt securities matured in June, and the data suggests that investors didn’t reinvest in the same market. The market appears undersupplied. A couple of high-performing subordinated notes propped up June index returns, namely those issued by Qube and Crown Resorts.
Key take-out: Debt security investors are indicating the market is too expensive, or they are waiting on the sidelines for new issues to appear. Some may have reinvested their funds elsewhere.
