Banks represent a yield play so to me as long as the dividend outperforms fixed interest, then its an OK long term investment. I expect the dividend for the banks reporting this financial year - ANZ, WBC and NAB will be a good result, as there is no reason to think that CBA can report well for Dec and the Big 4 bank wheels fall off in 3 months. However, refinancing is going to become more expensive for them with the cheap money gone so NIMs will trim.
So ling as unemployment stays low in Australia though, they are a good 6-7% post franking yield, so can't see that as being a bad outcome, maybe better if the run on US banks continues.
CBA is still the one overpriced on that logic. B4 Covid, when funding was more expensive it was $60!
Banks represent a yield play so to me as long as the dividend...
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