No, really good day. Thanks for asking.Just gets my goat seeing...

No, really good day. Thanks for asking.

Just gets my goat seeing the same mindless whinging from the same poster over and over again without any apparent understanding of how the market works, what is influencing share prices etc then having the hide to make a stupid comment, spelt wrong and claiming it to be an "industry term". Every comment is about boogy men, conspiracies and manipulation.

We can all see that we are a difficult inflection point for the banks at the moment. Most pundits have been putting their self interest ahead of the obvious facts for ages whilst trying to talk the market up with fairytales about interest rate cuts. They needed to keep the property market turning over and people buying with an entire industry based on clipping the ticket on selling mortgages.

Some banks started pricing reductions into their products a while back. Rates drops didn't happen / isn't happening and now their is finally talk about further increases and adding at least another year of pain for borrowers. Banks need to reposition and buckle down for what might be coming.

ANZ and WBC both reported concerning numbers and we all know BOQ already did the same recently. Both ANZ and WBC are propping up their SP with billions pumped into buybacks. When risk hits people look at the smaller players for weakness first. This isn't manipulation its risk reduction by moving capital.

If people who like to quote "industry terms" which they can't spell without understanding the reason that some banks SPs are fairing better than others then its quite hard to listen to their conspiracy stories without taking it as a joke and responding accordingly.