Australia’s major banks are the most profitable in the developed world, the Bank for International Settlements says. Its figures highlight the “big four’s” consistently high returns as an inquiry investigates competition in the sector. The comparison also showed that Australia’s “big four” have wider net interest margins and lower costs than most of their peers overseas. They are tipped to make combined profits of $29.7 billion.
This chart presents a compelling risk-reward trade: buy the market at 5400 with a stop at 5200, targeting 6700. Risk-reward: 6.5 times.
Do we buy, sell, or hold?
Tomorrow I’ll let you know who this high flyer is. Hint – education.
We use price levels because they give us a structural guidance for the probabilities of price behaviour.
The Australian dollar still has a major obstacle to overhead advances at 0.9700
We’re happy with our energy positions right now as Iraq pressures energy prices again!
