Some uncertainty has been removed, and given the original sp reaction to ann of Senate inquiry, this was seen as a risk event.(The complete recover prior to release calls that into question though.) The whole sector should rally on Monday, plus helped by US broader increase on Friday, although I'd imagine vast majority of this centered on APT and Z1P.
Yes there is some opportunity presented by tightening of mainstream credit by majors. A similar effect may happen in a recession scenario offsetting some of the bad debt increases. MNY might find it is writing more loans to lower risk borrowers, yet still charging high rates of interest given they're a low doc/sub-prime lender.
Expect a $2 handle again for MNY this week as inquiry over and solid results released (guidance already reconfirmed and, quote, 'pleasing' growth in H1 teaser provided).
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Some uncertainty has been removed, and given the original sp...
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