Aug 11, 2026 – 1.51pmHedge funds across the country no doubt cheered on Monday when Westpac earnings triggered a sector-wide sell-off after the big four lender reported a slump in mortgage applications since Labor’s tax changes were announced in the May budget.Short-sellers and long-only fund managers have been burnt by the years-long rally in bank stocks despite the sluggish economy and lacklustre earnings growth.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Westpac turbocharges small caps as investors finally sour on banks
Short sellers have cheered the recent pullback in bank stocks that fund managers hope could result in more money flowing into the ASX’s smallest companies.
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