Hey LOPEZ
There's no direct link, but I do think it's a good proxy for what does matter: confidence in the US financial system. I think uncertainty about Credit Default Swaps are still depressing the market. If the US stops supporting AIG, then the whole financial system collapses from what I read. The CDS market is estimated at 60-70 trillion. So a failure would be 50 times worse than the sub-prime crisis.
That's why no one wants to own a bank. I'm not sure what exposure MQG has, but even if it has zero exposure, the price could easily fall $10 if that kind of collapse happened. Where I differ with the doomsayers, is in assessing how likely it is to happen. I personally think it's below a 1% chance, whereas they all talk as if they're clairvoyant and know the future with 100% certainty.
Z
target $19 +, page-37
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Last
$223.20 |
Change
-8.310(3.59%) |
Mkt cap ! $85.07B | |||
| Open | High | Low | Value | Volume |
| $222.02 | $226.23 | $220.61 | $290.8M | 1.304M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 705 | $223.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $223.37 | 872 | 1 |
View Market Depth
| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| MQG (ASX) Chart |