Royal Commission winding up
It's been a torrid 12 months for Australian banks and bankers, forced to identify then air their dirtiest laundry in public, and it's been interesting to watch some of the price action as the horror stories were played out in public.
The Royal Commission public hearings began in February 2018, at which point Commonwealth Bank (ASX: CBA) had a share price with a $73-handle.
In October 2018 came "peak fear" and the stock price went as low as $65 as the market digested the interim report findings (the final dividend date also fell at the end of September).
As always you can click to expand the graphic:
As always you can click to expand the graphic:
The final Royal Commission report is now only ten trading days away, and the stock price closed out the week at the highest level since August at $73.23, and went as high as $73.55 in early trade on Monday.
The other banks have seen resurgent prices lately, even the beleaguered AMP Limited (ASX: AMP).
Markets accordingly don't appear to be too concerned with what's coming - perhaps banks might even be able to lend again without the paranoid forensics?
But let's see.
But let's see.
Discl: holder.
