Serial underperforming insurance company QBE is one of the businesses that benefits from increasing short term interest rates simply because it holds received premiums on deposit in anticipation of future claims hence higher yields delivers higher revenue. We remain bullish QBE targeting a test of $13 which implies the value section of the market has more left in the tank on the upside i.e. its not yet time to grab profits from our resources positions.
MM is bullish QBE looking for another 10% upside
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