calm before storm, page-13

I agree with anthony, that FY13 will see distributions recommence, and not at 100% of earnings, so as to allow for further debt reduction. The recommencement of distributions will take this to 12 cents on positive sentiment 9 even without any earnings or NTA improvement).

i think the recent price strength , which is well supported by building buy depth, is as much related to the USD gaining strength with its economic recovery underway as it is the recent weakening of AUD. Indeed the economic recovery in USA will strengthen USD versus the AUD and we will benefit by the higher AUD earnings translation, and higher AUD NTA. The previous earnings guidance based upon static vacancy and FX rates. Both have been moving in our favour and thus easy to see them deliver at or above top end of range.

let's also not forget that it is increasingly likely that our RBA will cut rates next week, which in turn will place downward pressure on AUD, which fuels MIX investor's fire.

Go MIX!