Property, not sovereign rating, biggest threat to Australian banks
Mark MulliganWorld editor
The biggest foreign funding risk to Australian banks is their overexposure to property, not the possibility of a sovereign downgrade by the credit rating agencies, says the head of fixed income at asset managers AB.
Ashish Shah says rather than warnings from Moody's, Standard & Poor's and Fitch about Australia's fiscal deficit, investors should focus on lenders' reliance on housing and commercial real estate for their profits.
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