The yields on bank shares MAY look good from the rear vision mirror. BUT, some big questions will now be asked:
1. If our local banks were contributing to the bail out of Countrywide back in August why weren't we told, and what other exposures are there? It sounds like there is much more to be played out.....
2. Is 5% or thereabouts sustainable and is it a good yield going forward compared to cash rates?
3. What cost pressures are on the horizon (wages) and is Sharon Burrows about to dictate the interest rate margins available to banks?
4. Is the bad debt cycle within Australia about to turn upwards?
The yields on bank shares MAY look good from the rear vision...
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