asx: cba

Hybrid market turns as S&P flags upgrades

Christopher Joye

In the AFR today I examine why the ASX hybrid market is once again booming and changes S&P announced this week to the way they are rating Aussie banks that could result in rating shifts for subordinated bonds and hybrids (click on that link to read for free or AFR... Show More

bank hybrids asx: cba asx: wbc

How much was the market pricing for CBA’s AUSTRAC fine?

Christopher Joye

CBA’s share price has currently bounced about 1.5 per cent—or $1.8 billion in market capitalisation terms—at the time of writing following news that it has settled the AUSTRAC money laundering litigation for $700 million. Show More

commonwealth bank cba asx: cba AUSTRAC royal commission

Hayne is bad for equity, good for debt

Christopher Joye

In the AFR I write today that one of the most enduring legacies left by the royal commissionwill be more conservative and risk-averse banks. This process was already underway after the Australian Prudential Regulation Authority (APRA) embraced the 2014 financial system inquiry recommendation that the banks deleverage. (direct AFR link... Show More

banks asx: cba royal commission hayne

How Apple’s buyback creates a 27% increase in EPS

Alex Pollak

Broker calculators have been running red hot over the past week working through the implications of the large cash balances of some of the world’s largest companies, now that Apple (which is now up 10% in the past month) has told everyone that it is going to undertake what looks... Show More

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Embrace house price falls as a good thing

Christopher Joye

In my AFR column I lean into the housing and banking debates, and give my old mate Jon Mott at UBS some more heat (click on that link to read for free or AFR subs can click here for direct access). Excerpt enclosed: Show More

housing cba asx: cba RMBS

House Prices in Benign Correction

Christopher Joye

In my AFR column I explain why the housing correction appears to be very benign (until the RBA raises rates); why we took profits on our AAA rated asset-backed book; why the new A- rated issue from Singaporean bank DBS looked very cheap (and has subsequently performed strongly); and why... Show More

bonds housing bubble asx: cba

Why CBA Hybrid Might be Attractive

Christopher Joye

In my AFR column I speculate that sanity could prevail and the mooted CBA hybrid that is expected to be launched next week could actually be attractive, offering a much higher margin and shorter maturity than Wesptac's latest issue (ASX: WBCPH) (click on that link to read for free or... Show More

Hybrids bank hybrids cba asx: cba

Why Ian Narev is the All Black of Banking

Christopher Joye

In my AFR column I argue that Ian Narev is the best commercial and retail banker of his generation and that Standard & Poor's is behaving like an economist desperately clinging to a controversial forecast that has proven horribly wrong (click on that link to read for free or AFR... Show More

asx: cba

Wilson Asset Management weekly: Flight Centre, CBA and Westfield

Chris Stott

The S&P/ASX All Ordinaries Accumulation Index closed up 1.4% for the week. This week the All Ordinaries Index continued to climb past the 6,000 point mark for the first time since the Global Financial Crisis, largely driven by the banking and mining sectors. The Australian equity market has now been... Show More

asx: cba ASX: WAA ASX: WAM ASX: WLE ASX: CYA ASX: FLT ASX: WFD

Wilson Asset Management weekly: Insights from the CLSA conference in HK, Seven Group Holdings and CBA

Chris Stott

The S&P/ASX All Ordinaries Accumulation Index closed down 0.2% for the week. Minutes from the Reserve Bank of Australia’s (RBA) meeting released on Tuesday suggested that reduced demand for steel production in China would indicate downside risks to the current iron ore price. We note that the Australian market is... Show More

ASX:SVW asx: cba ASX: A2M ASX: WAA ASX: WAM ASX: WLE ASX: CYA ASX: QAN ASX: MQG

Technicals - ASX200 index - major resistance barrier located at 5996

Angela Mangan

The ASX200 index is rated as a technical hold. Currently there is no sign of a (new) technical top formation emerging. Major resistance is located at 5996, which was the April 2015 peak, and as highlighted on chart below, looms as a major technical barrier (within the broad long-term trend... Show More

Technicals - Major banks in overbought territory - Reason for caution

Angela Mangan

With the exception of WBC, the other three major banks are located in overbought territory on a RSI basis which is reason for caution relating to the sustainability of the rally. Show More

equities banks australian equities ASX:WBC asx: cba asx: nab asx: anz

Technicals - ASX200 INDEX - located in overbought territory - reason for caution

Angela Mangan

The ASX200 index previously generated a technical buy signal at 5543 on 8/12/16 and reached the nominated upside technical target located at 5725 on 3/1/17 (referred to in recent wire https://www.livewiremarkets.com/wires/34121). Show More

equities asx200index ASX:BHP ASX:NAB ASX:RIO asx: cba asx: wbc asx: anz

Technicals – ASX200 index - risk remains for a renewed sell off

Angela Mangan

The ASX200 index generated a technical sell signal at 5229 on 2/11/16, as detailed in recent Wirehttps://www.livewiremarkets.com/wires/33648. Yesterday it reached an intra-day low of 5052 (versus the nominated downside technical target located at 5050). The expected rebound today on the ASX200 index may continue in the short-term but is unlikely... Show More

First Impression: Commonwealth Bank-CBA- FY16 Result

Bell Potter

Good outcome, ahead of our numbers and with cash NPAT in line with consensus and NIM outcome better than expected, down only 2bp. Costs flat over the half, positive “Jaws” based on strong revenue growth of 5%. Asset quality remains sound, GIAs flat and 90 days past due lower. CET1... Show More

asx: cba August 2016 Reporting Season

How strong are the banks at present?

Nicholas Forsyth

The Australian Banking Index is finally enjoying some time in the sun rallying over 10% during the last month. Their results have not been as bad as feared by many and of course they received a big shot in the arm from the RBA when they lowered interest rates to... Show More

S&P asx: cba

Buying CBA's New Hybrid Perls VIII is Irrational Trade

Christopher Joye

In The Australian Financial Review I explain that while CBA's new hybrid "Perls VIII" Show More

bank hybrids asx: cba hybrid perls VIII

The ECB imply rates lower for longer

Nicholas Forsyth

The markets continue in their current state of uncertainty with few participants wanting to take significant overnight or new investment risk. The fading of our market yesterday and the US markets (although to a much lesser degree) overnight illustrates this risk aversion. Show More

usd s&p500 anz asx: cba

We are Liking 2 out of 3 “Panic Areas” at Current Levels

Nicholas Forsyth

Stock markets are very cyclical, as human emotion swings between “Fear & Greed” and the 3 markets discussed below are clearly experiencing the fear factor. The fear of China only growing at 7% (what most countries dream), has recently devastated emerging markets, sending the MSCI Emerging Market Index to a... Show More

copper crude oil australian banks ASX:STO asx: cba asx: anz

Huge Achilles Heel in Major Bank Valuations

Christopher Joye

In The AFR I present one of my more important analyses of the major banks---a must read for anyone with equities exposure---that tears apart leading analyst forecasts to find an essential Achilles heel at the heart of current valuation models. In short, even the more gloomy analysts like UBS's No.... Show More