ANZBY - ANZ Banking Group: Attractively Priced But Performance Lags
Main Thesis
The purpose of this article is to articulate why I believe the Australia and New Zealand Banking Group (OTCPK:ANZBY) is not an attractive investment option in 2018. While Australian banks as a whole, including ANZBY, are more attractively priced than their U.S. counterparts and have higher dividend yields, the backdrop of the Australian economy will drag on large bank performance this year. Furthermore, the Australian housing market is forecast to have a bit of a slowdown, which has the potential to harm lenders. Finally, the outlook for interest rate increases is