Commonwealth Bank of Australia’s valuation surge to $300 billion this week and sluggish national economic growth figures are signs that not all is necessarily healthy in Australia.
Five of the 10 most valuable companies on the Australian Securities Exchange are banks: ANZ, CBA, National Australia Bank, Westpac and Macquarie Group, though the last is more of an entrepreneurial global fund manager.
John KehoeEconomics editorJohn Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
