Macquarie Group (MQG) has advanced +2.4% so far this year, taking it within striking distance of its 2023 high. We have been targeting a break above $196 by the current rally, but with interest rates set to fall in 2024 and MQG not due to report until May, it makes sense to take some profit now, affording us some extra flexibility into reporting season, i.e. opportunities usually present themselves to enter quality names at good levels through this volatile period.
- We are considering taking profit on MQG today after strong performances overnight from the likes of global peers Goldman Sachs (GS US) and JP Morgan (JPM US).
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MM is looking to take profit from our MQG position
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