He of, so often illustrated, forked tongue kind of telling the truth. As usual what he claims as "facts" of course estimates at best, and some of the facts just plain opinion and conflict entirely with mkt data - which ultimate drive forward borrowing costs:
"There is no chance of funding costs easing this year, particularly as the only place to borrow now is from PE"
WRONG
Most of the facilities required to be refinanced this year - and ZIP investors should do their homework therein - will be priced at floating bank bill swap rates plus a margin. Now I often post US money mkt rates when the usual candidates on here make false or ignorant pretensions about forward financing. As you can see swap rates (to bond yields) in Australia have recently fallen, refuting his "facts" (they could go up or down):
....and more importantly, forward Bond rates are have been coming down and with it the cost of borrowing (again another "fact" that is in fact an opinion refuted by actual financial mkt action:
Even if swaps, bond mkts and yield curves confusing to investors, they can still gauge the cost of borrowing is indeed getting cheaper by simple parameters like media headlines (and not listen to the peanut gallery on Hot Copper) and the ASX interest rate tracker:
So contrary to our resident down-ramper, the cost of borrowing is indeed forecast to go down - but yes, ZIP will be refinancing plenty of debt in 2024.
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Price($) | Vol. | No. |
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