I was thinking exactly the same thing when I checked it a few moments ago. Grossed up yield highly attractive. Only concern for me is that having lived through the dark days of bank collapses in the early 90's I'm keeping that in the back of my mind. CBA was publicly owned then and Keating had them buy out the State Savings Bank of Victoria when it became insolvent. The SSB was the main banker to Victorians and mortgage lender. Pyramid was Building Society run out of Geelong and another that collapsed but we saw that coming when they were desperate for cash and were lending at 17% whilst paying 19% on deposits to generate cash. Interest rates much lower now but its all relative to jobs and the amount of take home pay one puts into their mortgage.
WBC Price at posting:
$19.70 Sentiment: Hold Disclosure: Held
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