A lot of overseas selling of banks because they are no longer seen as cheap relative to their counterparts. Moreover ANZ and Marconi highlight they have exposure to o/seas bad debts. CBA is more insulated, SGB has a floor because of t/ov. premium, but the trend is down after 5 years of bull market.
Run a 200 m/avg.
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A few p/e's on Banks , page-9
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