MARKETS SPECTATOR: Off the bank bandwagon

Credit Suisse has recommended investors go 'underweight' the banking sector, expecting the RBA won't cut rates deep enough to arrest falling house prices.

Credit Suisse has downgraded the banking sector on pessimistic outlook for the housing market.

The broker has lowered its recommendation for the sector to underweight in anticipation of job cuts, payment shocks and declining house prices.

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