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Morgan Stanley: Macroprudential 2.0 to crush specufestor growth

April 20, 2017 - 11:09 -- Admin

From Morgan Stanley: We think recent developments fundamentally alter the Australian mortgage market. Re-pricing should support banks’ near-term earnings, but we forecast lower loan growth and believe current multiples ignore the risk of unintended consequences. We prefer ANZ (OW) to CBA (UW). Fundamental change in the Australian mortgage market: In our view, the mortgage market

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