The US rate increase is now in as are the Big Four investment loan increases. So far it hasn't had a large impact on CMA as far as we can see and logically, it shouldn't.
I appreciate certain utilities and REITS are seen as bod proxies and are ultra sensitive to interest rates.
However, the relativity between CMA's return and bonds is very little changed and I would hope that it is mainly those utilities and REITS with a valuation based more on future cash flows than NTA which will be more sensitive.
Alf
CMA Price at posting:
$2.14 Sentiment: Buy Disclosure: Held
