Yes, the market rarely follows pure logic when the financial press post headlines.
NIMs and costs issues are not significant enough to warrant the now large discount to ANZ & NAB. Trends can be concerning but highly unlikely they will not be addressed and remain at least close to peers.
Sentiment weighs heavily and funds get transferred around in case more "issues" come to light (black sheep of the moment!). Logic also suggests that Shorts would increase as sentiment declines and reduce as Sp drops away, but of no great concern at this end of the market. (Of course the great HC fixation with shorters is alive and well!)
Plenty people have been calling the end of the Banks for decades but if you are not one of them, pretty hard to not be tempted given current discount to other 2.
Sentiment over time changes, seems to swap around regularly............
Not advice of course, who knows what tomorrow will bring..................
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