Last month we saw the FED raising rates for the 9th time in the last 3 years, now to 2.25-2.5% per annum. Also, this month, the FED might keep its Quantitative Tightening (QT) program to US$50 billion per month, in order to reduce its inflated balance sheet. Show More
The announcement of the Australian Business Securitisation Fund (ABSF) this month has been derided as a political stunt by a few observers. However, if managed correctly it could (i) reduce the cost of borrowing for small and medium businesses and (ii) earn the Federal Government a decent return on its... Show More
Back in August 2015, we wrote an incisive article noting that ANZ’s $2.5 billion placement raising had fallen short. Whilst there was no public confirmation at the time by either ANZ or the underwriters, it was our experience in the market that led us to deduce that the investment banks... Show More
Livewire’s 2018 'Predictions and Top Picks' series continues with part two. Here, we ask our expert panel for their top stock ideas for 2018, and one thing they think the market has wrong. Watch the video or read the summary below. Speakers: Matthew Kidman , Centennial Funds; Chris Stott , Wilson... Show More
September was a reasonably volatile month as the markets had to digest key meetings from the ECB, BOJ & Fed and deal with a renewed focus on the viability of Deutsche Bank, after the US Department of Justice (DOJ) put forward their opening bid on the mortgage-securities cases fines. The... Show More
Banks fail because they are 1) illiquid, 2) insolvent, or 3) both. Deutsche Bank does not have a liquidity problem. They hold EUR 200 billion of highly liquid assets (12.5% of the balance sheet) which are enough to withstand a serious bank run. But ultimately it doesn’t matter, because the... Show More
Deutsche Bank is at best borderline for both solvency and profitability with a bail-in the best option to rectify that. Following the confirmation that hedge funds have started to reduce their capital and trading with Deutsche Bank, its position is now perilous. It is correct to say that Deutsche Bank... Show More
On Monday, a Swiss friend was bemoaning the dramatic fall in the share prices of Credit Suisse and UBS. Indeed, in terms of market cap UBS, CS and Deutsche Bank combined were worth slightly more than Commonwealth Bank. Despite working in finance, the Swiss friend has not heard of this... Show More
Macquarie Equity Research has downgraded Spark Infrastructures following yesterday's move on the DUET share register. Simultaneously the broker has issued an upgrade to outperform for DUET highlighting a takeover premium they expect to be priced into the stock in the year ahead. On Spark (SKI) Macquarie says, there are limited... Show More
Deutsche, Goldman Sachs and Macquarie Capital will this week start work on the $4billion IPO of Medibank. The float is tipped to be the largest in close to a decade and will no doubt dominate headlines throughout the course of the year. Just last week investors were given a reminder... Show More