Are Aussie banks “shock absorbers” or just “shockers”?

Monday, 6 April 2020

So far it is more shock than shock-absorber with banks falling much further than the wider ASX200 (especially so when one considers that they are a large component of it):

An excellent Domain interview with ANZ’s Shayne Elliott over the weekend captured the conundrum:

ANZ Bank chief executive Shayne Elliott has warned the coronavirus crisis will have a “material” impact on Australian house prices and affect the national psyche for an entire generation.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.