How strong are the banks at present?
The Australian Banking Index is finally enjoying some time in the sun rallying over 10% during the last month. Their results have not been as bad as feared by many and of course they received a big shot in the arm from the RBA when they lowered interest rates to 1.75%. Importantly the market is now factoring in over a 70% chance of another cut in 2016. Our local banks have endured a significant reality check since early 2015 correcting over 30% and putting some clear short term stress on many retail investor portfolios. Not surprisingly a significant percentage of the questions we receive at Market Matters concern the banks. In this report, we cover our current view on the banks. Report link: (VIEW LINK)
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