Yeah ok, I tried to simplify it from Chris, he is out there but what he was basically saying is that Bonds and their issuance will become longer than what is being sold now and the reserves all over the world are trying to push them out longer than the 30 year T Bill...not to mention the auctions are not selling as they once did hence we would probably see a longer duration than the 30 yr T Bill issuance. The RBA is right in the sense that they have loaded up cash credit for the banks before the 2023 auction dates. They have already admitted defeat by QE mandate which really means, they have bought banks their money in advance cheaper than what they would normally be buying in 2023 for the 5 year duration. You can read this on the RBA website in their fiscal minutes for their investors. I am not sure what their residual income % is & I dont think I have read I anywhere. I hope that makes sense...so yeah banks are now very cheap and are in a cycle, which of course will revert in time...any insider buying is always a vote of confidence.
WBC Price at posting:
$21.81 Sentiment: Buy Disclosure: Held
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