MARKETS SPECTATOR: Following the money trail

The much publicised fall in bank stocks over the last month looks to be extended as investors move into companies with offshore earnings.

“It’s all about rotation into stocks with overseas earnings,” says one salesman on the desk of a major investment bank.

Foreign fund managers and local investors will continue to sell out of bank stocks, says the salesman.

The big four Australian banks have all fallen sharply from 52-week highs.


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