Fitch Places the Big 4 Aussie Banks on Negative Watch

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In a press release, Fitch has placed Commonwealth Bank, NAB, Westpac and ANZ on negative watch, citing that

Australian... banks are each subject to many of the same themes and trends as other banks globally including an uncertain macroeconomic environment and evolving regulatory regimes.

As we have mentioned before, Australia's economy is not necessarily sounder or on a better footing than the rest of the world, if one were to take into account its strong reliance on China.