A rally in Australian bank stocks is reversing a decline that followed property tax changes two months ago. Short sellers who bet on a continued slump are now facing losses. The article highlights the impact of market movements on speculative bets.
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Australia-specific market event.
The rise is reversing a tumble caused by property tax changes two months ago.
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Share prices of Australia's biggest banks are rising.
BloombergThe upward march in share prices of Australia’s biggest banks is reversing the tumble sparked two months ago by property tax changes, and inflicting pain on short sellers who were anticipating a prolonged plunge.
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Share prices of Australia's biggest banks are rising.
BloombergThe rise is reversing a tumble caused by property tax changes two months ago.
OpinionShort sellers were betting on a prolonged plunge in bank shares.
PredictionShort sellers are incurring losses due to the rally.
Bloomberg