Good luck for tomorrow APT holders. UK banks have fired first...

Good luck for tomorrow APT holders.

UK banks have fired first shots. Dividends are not cut but scrapped. This is a completely new risk. This questions net interest margin. Unfortunately APT has a high beta and these days algorithm don't just sell a company stock, they are designed to buy and sell portfolios. I don't know what their contracts stipulates regarding warehouse facilities with major financial institutions, but preservation of capital will be vital for banks. Scomo's package doesn't go far enough and has major gaps. Card spending data from CBA, I think, has already shown that people are spending more on drinks and supermarkets and less on clothing and leisure businesses.

But who know what tomorrow might bring.