Major bank earnings season delivered with NIMs under pressure from deposit competition. Loan growth remains resilient with credit quality stable. Second rate cut expectations rise to 90% probability following softer inflation data.

NAB earnings confirmed NIM compression offset by volume growth and cost discipline. Asset quality remains strong with impairments contained. At $36.50, the bank offers dividend stability with capital growth potential.

ANZ reported earnings in line with expectations on mortgage competition intensity. Deposit gathering improved supporting future margin resilience. At $29.80, the bank offers value on normalized earnings basis.

MIN rallied on lithium price strength and production ramp acceleration. Capital returns to shareholders increase on strong cash generation. At $52, the battery metals play offers growth with capital return optionality.

January property market shows peak activity with strong clearance rates and new listings flowing. Investor confidence highest in 18 months on rate cut cycle confirmation.

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