Ann: Dividend/Distribution - BOQ, page-6

Possibly, BOQ short traders covering might explain the late bounce. IMHO sentiment was shifting as Sutton and Anthony detailed the results which seemed not to be as bad as thought.

Yield and div were maintained, short term might bounce around a bit, long term this seemed quite positive, no more material reduction in NIM, Centrepoint good, CET 1 conservative and good at 9,23, mortgage book quite good.

The reference that baffled the tripe out of me was the example of the "hypothetical" Sydney/ Melbourne double income family wanting a $900,000 mortgage from BOQ but being offered $1.2 to $1.3 million AUD from the majors. BOQ was saying that price (mortgage rate) is starting to converge between MAjors and Regionals and that was one message but I do not understand why the example was used or what was meant to being explained.

Quite confusing: u wonder whether BOQ understands the growth factors behind Sydney/ Melbourne property or are just saying that Majors are prepared to lend more money to owners of Sydney/ Melbourne growth markets. Either way the point was lost a little.