the trouble is with the overall economy, all the banks are about to get hit in the face with a shovel, the stimulus hasnt worked and the markets will adjust very severely to the downside, ANZ is probably the worst prepared of the lot (NAB isnt far behind), the Alt A crisis is starting to bite and will be in full swing by sept-oct, commercial RE in the US is yet another sub prime size debacle and they begin to reset near year end, China is buying mostly to stockpile for the future when they stop doing that commodities will drop with their demand
meanwhile australia has the worst priced housing in the western world in relation to private debt, ANZs exposure to our overpriced housing is substantial (especially in NZ), when unemployment starts rising in the next few months , folks will start defaulting, especially the most exposed group (new home buyers), the grant is probably the silliest economic policy move in 20 years.
Yes folks will parrot the mainstream press, demand is causing our housing stength, the worst of the recession will miss us, there are greenshoots although the recovery will be slow, all of this optimism will be gone by christmas
remember what I said months ago $10 by year end
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$28.73 |
Change
0.050(0.17%) |
Mkt cap ! $86.20B |
Open | High | Low | Value | Volume |
$28.85 | $29.26 | $28.66 | $181.8M | 6.301M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 5052 | $28.71 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$28.73 | 12943 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 869 | 28.710 |
2 | 31660 | 28.670 |
4 | 19254 | 28.660 |
1 | 9799 | 28.640 |
3 | 1790 | 28.630 |
Price($) | Vol. | No. |
---|---|---|
28.730 | 12943 | 2 |
28.740 | 6888 | 1 |
28.750 | 10440 | 6 |
28.760 | 16609 | 3 |
28.770 | 9592 | 2 |
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