I must admit I have changed my view a bit on the banks since the...

I must admit I have changed my view a bit on the banks since the latest stimulus package was announced.
This package is a massive bonus for the banks as it should significantly reduce the amount of bad debts from small businesses.

There will still be quite a large increase in bad debts and there will also be an increase in mortgage defaults.
This will impact the banks bottom lines quite significantly and it is likely that the dividends might be reduced.
However it is now less likely that they will have to do a Capital Raising and even with a short term reduced dividend they do now look a lot more attractive at current prices mainly due to the risks being reduced.

I also think that the Bank Hybrid $100 notes are a fairly good place to park spare money which is chasing yield as many of the notes are still trading $10 below where they were pre Corona Virus which gives them an effective yield of around 6-7%