RE: Shorts reduced again.12 Mar 2024 14:27
The big drag on earnings from the rise in interest rates for much of the year was fully reversed in Q4, so not only will it not be a drag, but it will be a significant boost in Q4. The 50bp sensitivity reported in September was $82m, and the drop in rates in Q4 was (depending on your metric) between 80 and 100bps. That's a lot of money on a MTM basis.