Australian banks

This is not yet threatening in the sense of triggering out-of-cycle mortgage rate move changes.

But, but, but they are safe they said.

Is it any wonder?

US regional banks are not stabilising: Partly it is the bank run.

It’s official.

Increasingly, this is looking like an end-of-cycle shock as a bull-steepening trade overtakes the bond market.

Courtesy of ZH.

Kroll has a succinct take on Silicon Valley Bank. It has been a long time since we’ve had to face a bank run, but in many ways Silicon Valley Bank (SVB) was a special case.

Last night we saw two US regional banks get experience runs of one sort or another.

Moody’s with the note.

As it happens, I bank with the CBA.

I’ve called this several times in the last year and been wrong.

Westpac is out with the credit quality update this morning and it is a doozy.

‘Tis a bad day for Aussie banks: At issue is CBA’s half-year result which produced this: But the big question for investors is how much more benefit there is to come from that rising rate environment.

The RBA is on the hustings today warning of the mortgage cliff: While those relying on interest income – such as self-funded retirees – have seen their incomes boosted by higher interest rates over the past year, those with mortgages will be feeling the effects of the rise in interest rates.

The Commonwealth Bank of Australia is a late-cycle performer.

It is quite something to watch as Aussie house prices crater while the stock of credit is still growing strongly.

The thing is, Australia has a very basic economic model.

Sometimes you just have to laugh at the equity market.

It always starts at the margin: Offshore investors of Australian asset-backed securities auctioned $645 million of bonds last week in an apparent rush to raise cash amid signs the British pension fund crisis threatens to spill over into local credit markets.