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ASX falls; ex-div property stocks tank
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UBS increases Afterpay price target
Alex Gluyas
UBS’ historically bearish view on Afterpay has been lifted slightly, with the broker increasing its price target on the buy now, pay later giant after its launch of one-time cards which the broker said evolves its revenue model.
“The launch of one-time use cards that can be used at non-integrated merchants such as Amazon, significantly increases Afterpay’s total addressable market,” UBS analyst Tom Beadle said.
More significantly, Mr Beadle pointed to the fact that this represents an evolution to Afterpay’s revenue model from merchant fees to “affiliate marketing”.
Fed s Quarles says supply chain imbalances boosting inflation are transitory
Reuters | Jun 28, 2021 10:22 PM EDT
Federal Reserve Vice Chair for Supervision Randal Quarles addresses the Economic Club of New York in New York City, U.S. (Photo : REUTERS/Brendan McDermid/File Photo)
The supply chain imbalances and higher demand currently leading to higher inflation are transitory and the U.S. Federal Reserve has the tools to respond if inflation remains elevated for longer than anticipated, Fed Vice Chair for Supervision Randal Quarles said on Monday. If a year from now we were not to see inflation settling back down to something that s closer to our 2% target . we have the tools at the Fed to then begin - as we traditionally would - to increase interest rates, to change our monetary policy in a way that would address that inflation, Quarles said during the annual Utah Bankers Association Convention. We re not behind the curve.