The Captain Obvious Award for the week goes to the Australian Financial Review. It's headline on Tuesday, 'Bank rate hikes win investor support' was astounding for its naivety. Of course the shareholders will cheer anything that protects/ increases their profits.
This reminds W&D of the famous "Well, he would, wouldn't he," reply of the infamous Mandy Rice-Davies .
Reverting to banks, W&D notes that ANZ's profit was announced yesterday. An increase of 1% on last year.