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Having spent a weekend away in the Snowy Mountains walking in the wilderness in Jajungal, it’s hard to focus on financial markets.
So I will keep this very brief and be back in the swing tomorrow.
It going to be all about the banks this week as results come thick and fast starting tomorrow with ANZ then WBC on Friday and NAB next week. The search for yield is still all compelling as it drives banks and TLS plus other defensives higher.
This week we get to see how much money the banks have made and how much they are going to splash on shareholders…let’s hope it satisfies the baying crowd.
Budget leaks will be coming out of Canberra as we approach the dreaded day..although let’s face it no one really cares as there will be a new Government in September so legacy issues will be the Gillard Government Focus..$12bn hole is yet another reason to kick ‘em whilst they are down.
Back to normal tomorrow but Dividends are the focus..quiet day expected with +/- 8 points …WPL go ex div the special tomorrow so they may hold up for another day.
And the Gai Waterhouse /Singo gloves off stoush is the best entertainment for some time…
Have a great day…normal service will resume tomorrow.
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