The Small Short: Investors bet against 2nd-tier Australian banks after inquiry spares majors [Reuters (UK)]
BANK OF QUEENSLAND UN/ADR (BKQNY)
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Source: Reuters
The Small Short: Investors bet against 2nd-tier Australian banks after inquiry spares majors | Reuters 4 Min Read SYDNEY (Reuters) - Investors are shorting second-tier Australian banks while the majors enjoy their biggest rally in three years, as the market weighs up the long-term impact of a public inquiry that exposed widespread misconduct in the financial sector last year. The capital shift shows investors believe higher regulatory costs will hurt smaller lenders more than the big four market leaders, whose business models - if not their reputations - emerged largely unscathed from the year-long inquiry. Short bets on regional lenders Bendigo and Adelaide Bank ( BEN.AX ) and Bank of Queensland ( BOQ.AX ) spiked over a fifth in the weeks since the inquiry delivered its final report on Feb. 1, Refinitiv data shows. Their shares had already fallen about 15 percent in the same period. Investors are instead putting money on the larger banks’ ability to safeguard profitability in an
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