The Wise Owl

@ausstockchick Also might be an ITOC play…. Not bad making 5% on banks capital

@ausstockchick Term swap rates are down…. Nothing more…. If I hedge a two year loan at 3.70 (current swap rate) I make a margin of 1.89% not bad but there’s a kicker on the floating side I’ll receive 4.4% and likely pay sub 4% for the deposit sooooo basically it’s good business

The banks are quietly changing interest rates. 🏦 Macquarie Bank just dropped interest rates to the lowest in Australia! A 2 year fixed home loan interest rate used to be 5.59% but it's been lowered to 5.39% Banks are betting interest rate cuts are soon. #ausbiz #auspol

@sallyrugg So as a straight white male… I can now play the diversity card? Fantastic

Wow, hearing that LGBTIQ people now make up 55% of all Australians!

@MarkDiStef Wonder how this ties in with ESG goals of the banks who fund him ???

Scoop: Property developer Tim Gurner's comments about entitled employees have caused concern at his companies. In a leaked memo, one manager at his wellness centres has tried to assure staff that Gurner's remarks were "in no way directed at our teams". afr.com/companies/medi…

@ricyet You died on the two more rates hikes call the you rescinded and called for no more…. Now you are talking down the employment number…. RBA hiking on 1 August… lock it in eddie

Today's #Australia data had more softness than many are crediting. (a) v strong population growth means you need monthly employment of +32k just stand still on the unemployment rate. (b) underemployment has now risen 0.6pts from its low. 1/2

@LyaskovskyD @josephwang To be fair she was second line… this falls squarely on first line balance sheet managers…. Where was the Treasurer? Likely chasing bonus numbers

Looks like SVB held $120b in securities but basically didn't hedge their interest rate exposure. That's totally crazy. No wonder they failed.

@cmkusher Someone needs to tell Sanjeev his interest bill has gone from likely 72k to 220k…. Houston we have a problem… banks gives zero fucks about lvr if you can’t service and old mate cant service… hopefully non bank lenders stick around

I can’t fathom why anyone would want to be the featured landlord in these stories. theguardian.com/business/2023/…

Hike the rates…. ⁦@RBAInfo⁩

@88888sAccount Wolverine?

@88888sAccount Shitty fixed income manager?

@MrMacroMarkets Mooooveee faaarrrkkkkiiiinnnnnn… Greek equivalent

What’s the German word for when you are riding on a fairly empty bike path and you happen on a person in front and a person coming the other way, and the three of you inconveniently meet at the narrowest point at the same time forcing you to stop?

@MrMacroMarkets Those be fighting words

Thoughts and prayers….

@FFailings Annualised distribution yield of < 7 percent… might as well buy a shit load of cap notes ie PERLS and hold 7 distrbution yield risk free

duration increases from 3.6 to 6.4yrs in a month, while cash+derivatives increased from 32% to 46% (im guessing the magic deriv's did the duration work here) Fund is in its 20th yr so you are trusting the FM but for me it falls into the dont understand, dont invest basket

@FFailings I’d back teachers mutual mortgage book over boq at one notch higher…. Unionised workers especially teachers rarely lose their jobs… obviously vs majors you can’t compare as there DSIB status gives them an inherent gurantee even if the government won’t admit it

@FFailings It’s not apples and apples from a default risk perspective and the covered gives them capital relief which would compensate for the higher coupon… no point raising funding if you do t have enough capital to sell the mortgage

@MrMacroMarkets Rates still haven’t peaked

End of days

@martin_whetton Your old shop still gunning for 3.35 by December tell ‘em there dreaming

Absolutely brilliant call on the RBA by my CBA colleague Gareth Aird. Stick to his guns on the 25bp as many changed.

@FFailings @respeculator No government guarantee…. sneaky BOQ

@respeculator how about i get you 50% MOAR interest with 4.1%pa for 6 months...? 🤣

To go and lock up some cash for 6mths in a term deposit and make 2.7% .. or... throw it in some shifty asx stonk with an uncertain asset sale in Africa and chase 80% in 6mths if it closes 🧐🧐 Fk it

@88888sAccount twitter.com/davetaylornews… but but Dave Taylor

@DaveTaylorNews Except banks probably do own those bonds and are sitting in their hqla books gathering dust whilst they are held to maturity…. Or they hedged with the futures basket

Just to be crystal clear the RBA bought enormous amounts of bonds when they were super expensive and now those bonds are worth much less It was a bond “trade” The RBA lost tens of billions of dollars on that investment The same trade would have sent a commercial bank broke