Why the big four banks keep wrong-footing the market
Alex GluyasMarkets reporter
Australia’s biggest banks are defying bearish calls from major brokers to sell the shares as lower-than-expected bad debts and easing competition concerns continue to support dividends and buybacks.
Macquarie advised clients in mid-March to “underweight everything” in the banking sector followed by Citi a month later, which also recommended investors sell all their shares in the big four lenders.
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Alex Gluyas is a markets reporter based in our Melbourne newsroom. Connect with Alex on Twitter. Email Alex at alex.gluyas@afr.com
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