Hard to see how there are no skeletons when they didn't forecast any of this. The NIM hit is big, and they should have known about it given rates didn't go up overnight. You can't really claim they accounted for it, given they kept buying back shares.
Makes me think there's something more to this we don't know. Perhaps some hedging failures.
SVR Price at posting:
$1.06 Sentiment: None Disclosure: Not Held
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