Two aspect of this crisis isn't at all leading to market panic, but repricing the banks.
First - if the banks make bad investments, and take the bonds of lesser banks that get in trouble - the gov is not coming to the rescue with a bail out of anybody buy deposit holders if Aus copies the US - and that is the plan. There will be costs from this, and repricing of all bank paper.
Second using one year Aussie gov bonds - they have fallen from about 3.65% pre SVB to 3.28% today. Banks will not be able to milk the situation much longer - NIMs will suffer.
IMO
CBA Price at posting:
$93.79 Sentiment: Sell Disclosure: Not Held
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