In today’s briefing:
- Quiddity Leaderboard ASX Sep 23: Many Changes Ahead
- Australia Banks – MQG Funding Cost, NPLs Far Worse, With Higher Rates, Longer
Quiddity Leaderboard ASX Sep 23: Many Changes Ahead
- In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run up to the September 2023 Rebalance.
- I currently expect one change for the ASX 100 index and five changes (including one intra-review change) for the ASX 200 index.
- There could be 7 ADDs and 5 DELs for the ASX 300 index.
Australia Banks – MQG Funding Cost, NPLs Far Worse, With Higher Rates, Longer
- MQG is seeing far higher NPL growth than traditional bank peers
- Funding costs pressure are far higher and NIM contraction is substantial
- High rates for longer & greater risks of recessionary-conditions can weight more on MQG
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