Yes, credit to flame for being ahead of the curve in calling this CR. Nice work.
The question is now all about where it gets applied ie do they take out Investec and their higher funding costs or something else in mind.
Interesting times and this update does go some way towards explaining the inherent reluctance in the SP recently to move up. The broader market appears to have taken on board similar concerns to those flagged by Flame previously.
Will be interesting to see where this takes us and how the SP responds once the TH lifts.
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