just read ian verrenders article of the 210611,regarding ratings agency moodys downgrade over o/s debt,ian cited the reduction by all banks in o/s debt reliance and most importantly its guarantee by the australian government.
loss of confidence in the usa economy as demonstrated by the dramatic 279pt fall,our markets are tepid on o/s public holidays it seems far more likely that o/s fund managers ,that is the not so nice ones,are desperately trying to improve their financial position by raiding our markets using vasts amount of capital and sophisticated modelling that conveniently coincides with disappointing key usa and european data---personally i see it as opportunistic and i hope others share that outlook.
WBC Price at posting:
$21.45 Sentiment: Buy Disclosure: Held
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