The income opportunity has rarely been better

Locking in income as the cycle shifts.

1 Jun 2026

Fixed income is back in focus—and for the first time in years, investors can access equity-like returns with significantly less risk. Roy Keenan (Co-Head of Australian Fixed Income) explains why yields north of 6% are just the starting point.

In this latest instalment with Livewire, Chris Conway (Livewire Markets) catches up with Roy Keenan (Co-Head of Fixed Income and Portfolio Manager of the Yarra Enhanced Income Fund) to chat through why fixed income is presenting one of the most compelling opportunities in years—and how investors can capture equity-like returns without taking equity risk.

Despite ongoing rate hikes and geopolitical volatility, Roy expplains why the opportunity set has only improved. With the after-tax gap to equities narrowing, credit spreads resetting, and markets over-allocating to floating-rate exposure, he sees a compelling case to lock in higher fixed rates—particularly as the cycle shifts from inflation to growth.