hi Alee ,
It comes down to opinion , but if I had a good look , I am pretty sure I could find a similar cheerful analysis telling me that the the income securities would always be called on time.
Not that I am complaining , made lots out of beaten down examples of that class.
On the underlying premise that our banks are too strong to worry about , ok , in that case why not go with the equity.
The article treats the banking sector as a single entity , and discounts single entity problems.
Valid until it isn't.
Tier 1's got screwed over by the authorities in Switzerland , because that enabled a quick takeover.
It suited them , and the terms allow them to do whatever they please.
In saying all that , if I was going to have hybrid , cba is the one.
cheers
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