Ignoring the Wall St sell off. Ignoring the rising bond yields climbing even higher than the current CBA dividend yield. The 1 and 2 year bond yields are 70 basis points higher than the yield on CBA.
Do people see it as a safe haven? Because in what world is a bank exposed to the extreme levels of mortgage debt in a cost of living crisis considered a safe investment? Especially when it is presently trading at literally a 100% premium to say JP Morgan or Wells Fargo in America. I cannot fathom a reason as to why we price our banks literally double than other developed countries. No other country in the world has such a hard on for their banks.
This countries obsession with bank stocks has reached a level of cultural cringe not seen since the Aussie Aussie Aussie, Oi Oi Oi chant. You can just tell the Americans, British, Japanese and Europeans are looking at us like we are the world's biggest weirdo's. What are we doing?
CBA Price at posting:
$143.46 Sentiment: Sell Disclosure: Not Held
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