Macro & Asian equity Technical Strategies, BBSP Asia

Federico D'Inca

Macro & Asian equity Technical Strategies

BBSP Asia

Technical Analysis

Commonwealth Bank of Australia / Technical Analysis

CBA AU back to key support at 79.00/77.65 key support to remain bullish to 91.00 even 96.70ANZ AU - only breaking 29.00 in pre-signal and 30.65 surpassed in confirmation would validate a bullish outlook again.NAB AU - Good conviction ** bullish above 28.90 to 33.70.WBC AU - Bullish above 29.40 to 35.00 (Good conviction**)BHP AU - Bearish below 24.10 to 21.25 max 19.14RIO AU - Right above trialling stop 60.40 (previous entry long above 55.65 in May 2017) with target still at 69.80 max 77.20…

CBA AU back to key support at 79.00/77.65 key support to remain bullish to 91.00 even 96.70ANZ AU - only breaking 29.00 in pre-signal and 30.65 surpassed in confirmation would validate a bullish outlook again.NAB AU - Good conviction ** bullish above 28.90 to 33.70.WBC AU - Bullish above 29.40 to 35.00 (Good conviction**)BHP AU - Bearish below 24.10 to 21.25 max 19.14RIO AU - Right above trialling stop 60.40 (previous entry long above 55.65 in May 2017) with target still at 69.80 max 77.20…

Australia Banks and RIO Out Performance Opportunity Vs BHP

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

Following the recent downgrades of Australia’s banks by ratings agencies and the spike in credit default swap (CDS) rates we provide our own balance sheet risk score. This can be helpful in considering relative risks should Australia economic conditions worsen. In our risk scoring we include exposure to interest-only (IO) loans; investor mortgage loans; low documentation (low doc) loans; commercial loans; and other personal loans. At the same time, we consider relative levels of total allowance…

Following the recent downgrades of Australia’s banks by ratings agencies and the spike in credit default swap (CDS) rates we provide our own balance sheet risk score. This can be helpful in considering relative risks should Australia economic conditions worsen. In our risk scoring we include exposure to interest-only (IO) loans; investor mortgage loans; low documentation (low doc) loans; commercial loans; and other personal loans. At the same time, we consider relative levels of total allowance…

Director - Research, Consulting and Advisory, BondAdviser

Nicholas Yaxley

Director - Research, Consulting and Advisory

Australian bonds & fixed income research

BondAdviser

BondAdviser is the central reference point for intelligent information on Australian fixed income markets. We help you make informed decisions by providing unbiased research, transparent pricing data, analytics, portfolio tools and education.

BondAdviser has the broadest coverage of retail-accessible ASX-listed and over-the-counter Australian bonds and fixed income securities. We make it easy for you to review and compare investments before you place an order with your broker or dealer.

On the 22nd of May 2017, Standard and Poor's (S&amp;P) announced that 23 Banks (both domestic and foreign branches) operating in Australia will be downgraded due to concerns around potential economic imbalances.The agency suggested that "economic imbalances in Australia have increased due to strong growth in private sector debt and residential property prices in the past four years, notwithstanding some signs of moderation in growth in recent weeks. Consequently, we believe financial institutions…

On the 22nd of May 2017, Standard and Poor's (S&amp;P) announced that 23 Banks (both domestic and foreign branches) operating in Australia will be downgraded due to concerns around potential economic imbalances.The agency suggested that "economic imbalances in Australia have increased due to strong growth in private sector debt and residential property prices in the past four years, notwithstanding some signs of moderation in growth in recent weeks. Consequently, we believe financial institutions…

S&P Australian Bank Rating Downgrade Analysis

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/444" target="_blank" data-smartkarma-citation="entities:444:1">Westpac Banking Corp (WBC AU)</a> is looking to sell 60m shares of <a href="https://www.smartkarma.com/entities/15795" target="_blank" data-smartkarma-citation="entities:15795:1">BT Investment Management Ltd (BTT AU)</a> (BTIM), worth approximately US$459m (A$615m).  Post this deal, Westpac Banking Corp will hold 9.8% of BTIM.The deal scores well on our framework owing to a strong price and earnings momentum and good track record. Funds under BTIM has been outperforming the benchmark and continues to attract fund inflows despite weak market conditions. Westpac's selldown is not a big surprise since Australia bank…

Westpac Banking Corp (WBC AU) is looking to sell 60m shares of BT Investment Management Ltd (BTT AU) (BTIM), worth approximately US$459m (A$615m).  Post this deal, Westpac Banking Corp will hold 9.8% of BTIM.The deal scores well on our framework owing to a strong price and earnings momentum and good track record. Funds under BTIM has been outperforming the benchmark and continues to attract fund inflows despite weak market conditions. Westpac's selldown is not a big surprise since Australia bank…

BT Investment Placement - Tougher Capital Requirement on Banks Means Sell Down Is Not a Big Surprise

There are often stories in Australia about concerns on marketing banking products to consumers, or breaches of confidential information, or complaints in general. The government is now imposing a 6bps levy on the largest banks, in part to address this, but also to shore up government finances. The impact on banks will not be inconsequential. The 6bps bank levy is based on total liabilities, but less any small retail deposits, lower than A$250,000. This granularity is not available and we…

There are often stories in Australia about concerns on marketing banking products to consumers, or breaches of confidential information, or complaints in general. The government is now imposing a 6bps levy on the largest banks, in part to address this, but also to shore up government finances. The impact on banks will not be inconsequential. The 6bps bank levy is based on total liabilities, but less any small retail deposits, lower than A$250,000. This granularity is not available and we…

Regulatory Risk in Australia Banking Lights Up

Australia

Westpac Banking Corporation offers general and savings banking services.  The Company provides investment portfolio management and advice, insurance services,  consumer finance, and money market services among other services.  Westpac Banking Corp. serves individuals, businesses, and corporations worldwide.

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Westpac Banking (WBC AU)

Australia Banks and RIO Out Performance Opportunity Vs BHP

CBA AU back to key support at 79.00/77.65 key support to remain bullish to 91.00 even 96.70ANZ AU - only breaking 29.00 in pre-signal and 30.65...

BBSP Asia

Australia Banks – Scoring Bank Risk

Following the recent downgrades of Australia’s banks by ratings agencies and the spike in credit default swap (CDS) rates we provide our own...

Daniel Tabbush

S&P Australian Bank Rating Downgrade Analysis

On the 22nd of May 2017, Standard and Poor's (S&P) announced that 23 Banks (both domestic and foreign branches) operating in Australia will be...

BondAdviser

BT Investment Placement - Tougher Capital Requirement on Banks Means Sell Down Is Not a Big Surprise

Westpac Banking Corp (WBC AU) is looking to sell 60m shares of BT Investment Management Ltd (BTT AU) (BTIM), worth approximately US$459m (A$615m)....

Zhen Zhou, Toh

Regulatory Risk in Australia Banking Lights Up

There are often stories in Australia about concerns on marketing banking products to consumers, or breaches of confidential information, or...

Daniel Tabbush

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52-week Range

Market Cap (USDm)

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