Hedge funds have started to throw in the towel betting on a long-awaited correction in Commonwealth Bank shares as Australia’s largest bank continues to defy market expectations for an imminent sell-off.
Despite a wobble during the February reporting season when weaker results from Westpac and National Australia Bank prompted investors to take some profits in the banking sector, CBA’s shares are still higher for this year. That’s after the shares soared more than 37 per cent in 2024.