Banking interest wanes
Short positions against the major banks have tailed off markedly since the early months of 2019.
Here's an equally valid indicator that the angst surrounding the banking sector has eased.
And that is barely anyone rocking up to the CBA Annual Meeting, even in the plush surroundings of the Darling Harbour Theatre at the grand new ICC:
Photo credit: Tony Boyd, via the Twitter
The major banks saw their market share of new lending via AFG brokers fall to the lowest level since 2007 in the third quarter of 2019.
It's been a challenging time for the sector to say the least, but presumably the competitive edge will return in time (mortgage lending being their main game after all).
Commonwealth Bank (ASX: CBA) was trading back above $80 this morning, having plumbed the depths at around $65 in October last year.
All of the major banks (and some of the second tier lenders) saw their share prices rocket immediately after the election result, market pricing being the best real-time indicator of the perceived impact of the variously proposed election policies.
