Following our negative comments on Australia’s banks, the rating agency Standard & Poor’s has just downgraded all the big four – Westpac, Commonwealth Bank, ANZ and National Australia Bank by one notch and investment bank Macquarie by two to BBB. But so self-satisfied are the punters on Australian assets that they took this as a compliment and the shares rose.
The Lucky Country's Luck Running Out?
The Lucky Country's Luck Running Out?
The Lucky Country's Luck Running Out?
Following our negative comments on Australia’s banks, the rating agency Standard & Poor’s has just downgraded all the big four – Westpac, Commonwealth Bank, ANZ and National Australia Bank by one notch and investment bank Macquarie by two to BBB. But so self-satisfied are the punters on Australian assets that they took this as a compliment and the shares rose.
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