ANZBY - ANZ Banking Group: I'm Taking The Profit
Main Thesis
The purpose of this article is to articulate why I believe the Australia and New Zealand Banking Group (OTCPK:ANZBY) is no longer an attractive investment option at its current market price. While I have recommended ANZBY in the past, its current outlook is not enticing to me, as the Australian economy continues to face significant headwinds. While many government officials are saying the Australian economy looks strong, the Reserve Bank of Australia's (NYSE:RBA) actions speak louder than words, as interest rates were left unchanged again, sticking to a 1.5%