...ASX market participants are out of ideas what to buy, feeling bullish because Wall St continues to edge higher.
CBA shares hit record high, NAB post-GFC high
Tom Richardson
Commonwealth Bank shares added 1 per cent to an all-time high of $119.37 per share this morning, despite analysts widely rating the stock as a sell.
While Westpac shares climbed 0.4 per cent to $27.06 at their highest level since 2015, with National Australia Bank shares climbing to a post-GFC high of $34.36.
Analysts are worried the closure of the Reserve Bank’s pandemic-era $188 billion term funding facility (TFF) will trim the banks’ margins. However, investors are betting a robust housing market and immigration will support earnings.
