Tough one. Nay reasons for me are:1) that the CNP assets are...

Tough one. Nay reasons for me are:
1) that the CNP assets are realestate, the one asset that banks are willing to go the extra mile for. Stable, predictable, with high barriers to entry and not yet defaulted on earnings cashflow.
2) Too big to fail. Liquidate commercial property at distressed prices and they sign away the value of every property, not just those in question, and in turn the banks risk negative repercussions on all their commercial property financing deals.
3) Interest rates are falling, making financing cheaper generally. All existing yields look more favourable for banks on a risk return basis as they fall (this point is academic).

Yay reasons are:
4) Mark to market values are only heading one way. I'm not sure of any trigger points if LVRs increase any further, but it cant be good.
5) How bad is main street going to get? In Oz we havn't yet seen the effects of the mining bust on QLD and WA employment and consumer spending. This is going to be (bad) news in 12 months time.

Line ball man! but me thinks 1 and 2 weigh heavier than 4 and 5. I'm not buying any more but this is better than watching Monday night Lotto.

How do you say.. . ..... BOS !