Macquarie Notes: possible each-way bet

Another day, another hybrid, this time from Macquarie. It’s not compelling but there’s an interesting angle for Macquarie Group shareholders.

Macquarie Group might have been slow to the hybrid party, or simply biding their time till retail investors peaked in their generosity to issuers and disregard for risk. Either way, from Macquarie’s perspective, the timing of the issue of Macquarie Group Capital Notes is impeccable.

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