building permits

The latest episode of the Vancouver Life Podcast provides an analytical overview of the pressing issues affecting the Vancouver real estate market. The episode covers a wide array of topics, including the anticipation of interest rate cuts, the introduction of a new flipping tax, the dramatic decrease in building permits, and the numerous obstacles developers face in bringing new projects to market.

The conversation kicks off with the discussion on the potential for three interest rate cuts in 2024, a development spurred by better-than-expected inflation data, and its potential impact on the real estate landscape. We then critically examine the newly announced flipping tax, aimed at discouraging short-term property speculation, questioning its effectiveness and fairness.

A significant focus of the episode is on the alarming decline in building permits, which have reached an eight-year low, indicating a worrying trend for the future housing supply. They also shed light on the challenging environment for developers, who are burdened by high fees, taxes, and bureaucratic delays, potentially leading to a decrease in new construction initiatives.

Throughout the episode, the hosts scrutinize the effectiveness of various taxes introduced in recent years, arguing that these measures have done little to enhance affordability or address the fundamental issues plaguing Vancouver's housing market. They advocate for a shift in focus towards supporting supply rather than penalizing demand, suggesting incentives for builders and a reevaluation of regulatory and tax policies to encourage development.

The episode concludes with a market update, noting an increase in sales and prices, suggesting a potential slowing in the rate of decline and possibly signaling a nearing of the market bottom. We speculate on the Bank of Canada's next moves regarding interest rates, considering global economic conditions and local employment and inflation figures.

This episode offers a comprehensive and analytical perspective on the current state and future outlook of the Vancouver real estate market, providing valuable insights for homeowners, buyers, investors, and industry professionals alike.

_________________________________

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Dan Wurtele, PREC, REIA

604.809.0834

dan@thevancouverlife.com

Ryan Dash PREC

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ryan@thevancouverlife.com

www.thevancouverlife.com

Wall Street closed mostly lower on Tuesday as investors shift focus to the week ahead, filled with key economic data and Fed Chair Jerome Powell’s speech on Wednesday where he is expected to talk about the fiscal and monetary policy. Investors also struggled to recover from sharp losses faced in Monday’s session. The Dow Jones fell just 1 point, the Nasdaq shed 0.6% and the S&P500 closed the day down 0.2%. Investors are anxiously awaiting the release of important jobs and indicative GDP data for Q3 which is out later this week and will play an important role in the Fed’s next interest rate decision at the next FOMC meeting on December 14.

Over in Europe markets closed lower across the board as investors continue to monitor news from China on the COVID-restrictions front. The Stoxx 600 closed down 0.1%, Germany’s DAX fell 0.2% and the French CAC lost 0.06%. Over in the UK, the FTSE100 declined 0.51%.

What to watch today:

• On the commodities front, crude oil is trading up 1.13% at US$78.16 per barrel, gold is trading up 0.6% at US$1,751 an ounce, and iron ore is trading down almost 1% at US$100.50 a tonne.
• Looking at economic data out today, it’s a big data day for Australia’s building industry with construction work done for Q3 out at 11am eastern daylight time, and building permits preliminary data for October is out at 11:30am eastern daylight time. Overseas investors will be awaiting the release of US GDP growth rate data 2nd estimate for Q3 with markets expecting an increase of 2.6% for the quarter. JOLTs Job Openings data for October is also out tomorrow which will give an insight into America’s workforce in the tight labour environment.
• Ahead of the local trading session, the SPI futures are anticipating the ASX to open flat following the lacklustre session on Wall Street overnight.
• The Aussie dollar is buying 66.88 US cents, 92.62 Japanese Yen, 55.75 British Pence and NZ$1.08.

Trading Ideas:

• Bell Potter has downgraded its price target on Bubs Australia (ASX:BUB) following the recent shortfall in Q1 of FY23 infant milk formula revenues compared to Bell Potter expectations, and negative year-on-year growth implied in the second quarter expected revenue guidance warrants a more cautious approach to near term revenue growth, earnings growth and valuation.
• Trading Central has a bullish signal on Coronado Global Resources (ASX:CRN) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may rise from the close of $2.02 to the range of $2.37-$2.45 according to standard principles of technical analysis.

Wall Street ticked lower on Wednesday after the midterm election results came in tighter than expected. It was widely predicted that a “red wave” of Republican victories would be announced after Tuesday’s vote, however early results are showing the Democrats are performing better than expected in the poll, with the control of congress still hanging in the balance. The Dow Jones closed the midweek session 1.5% lower, the S&P500 fell 1.68% and the tech-heavy Nasdaq fell 2.12%.

Over in Europe markets closed lower as global investors await the final outcome of the midterm US election. The STOXX600 closed 0.3% lower, Germany’s DAX ended Wednesday’s session down 0.16%, the French CAC fell 0.17% and in the UK the FTSE100 closed 0.14% lower on Wednesday. European markets are still being moved by earnings season with Germany’s second biggest bank Commerzbank reporting yesterday that its net profit dropped by 52% in the third quarter and the company maintained its full-year profit outlook despite soaring inflation in the country.

What to watch today:

• Ahead of the local trading session the SPI futures are expecting the ASX to open 0.64% lower on the back of the global sell-off overnight
• On the commodities front, it’s a red run across the board this morning with crude oil trading 3.44% lower at US$85.85 per barrel, brent oil is down just over 3% at US$92.48 per barrel, gold is down 0.34% at US$1706.74 and iron ore is up 2.82% at US$91 per tonne.
• Taking a look at economic data out today, it’s a data dump on Australia’s building front with building permits data for September out at 11:30am AEDT and private house approvals data also out just before lunchtime.
• The Aussie dollar has weakened to buy 64.31 US cents, 56.35 British pence, 94.26 Japanese yen and 1 New Zealand dollar and 9 cents.

Trading Ideas:

• Trading Central has identified a bullish signal on The Lottery Corporation (ASX:TLC) following the formation of a pattern over a period of 35-days which is roughly the same amount of time the share price may rise from the close of $4.47 to the range of $4.78 to $4.86 according to standard principles of technical analysis.
• Trading Central has identified a bearish signal on Ridley Corporation (ASX:RIC) following the formation of a pattern over a period of 49-days which is roughly the same amount of time the share price may fall from the close of $2.14 to the range of $1.81 to $1.87 according to standard principles of technical analysis.

The Australian share market regained some ground on Tuesday, closing the session 0.5% higher, as investors piled back into technology stocks, giving long-term tech shareholders a brief sigh of relief. Energy stocks also rallied again during today’s session.

Mineral Resources (ASX:MIN) led the gains on the ASX today as investors bought into the mining company following CEO Chris Ellison sharing the company’s vision to build a battery manufacturing plant in Western Australia over the next couple of years. MIN also announced it is pushing ahead with the $3b Onslow Iron Ore project with the backing of China’s biggest steel maker. The a2 Milk Company (ASX:A2M) also jumped more than 6% today after releasing strong FY22 results yesterday.

On the losing front, Sandfire Resources (ASX:SFR) shares came under fire today as investors digested the copper miner’s FY22 results today. Despite reporting record sales revenue of $922.7 million, investors were more focused on the company’s scrapping of its final dividend this financial year which led to the sell-off in SFR stocks. Ramelius Resources (ASX:RMS) stocks were also sold off today, closing the session down more than 5%.

The most traded stocks by Bell Direct clients today were BHP Group (ASX:BHP), Core Lithium (ASX:CXO) and PolyNovo (ASX:PNV).

On the economic data front today, Australian building permits data for July was released showing a decline of 17.2% which significantly exceeded the markets’ expectations of a 2% decline, indicating the country’s building industry remains in crisis mode. Private house approvals data for July was also released today also showing a decline from June to 0.7% which beat market expectations of a 0.5% rise.

As for what to watch overnight, US house price index data for June will be released as well as JOLTs Job Openings data for July in the US.

Yesterday, the ASX200 gained 0.7% following a better night of trade on Wall Street, with the big banks and Woolworths notching up gains of 1%. Nearly all sectors closed in the green, with tech shares rallying. The only sector to fall was the Energy sector, as the US said it was considering selling oil from its strategic reserves and Russia said it was ready to stabilise the natural gas market.

Looking to the US, lawmakers reached a deal on Thursday to increase the debt ceiling in the short-term. The compromise will avoid an unprecendented debt default for now. This helped equities rally, with the Dow rising 300 points, the S&P500 closing 0.8% higher, and the tech-heavy Nasdaq up 1.1%. 

Following a positive session on Wall Street, the futures are suggesting the Aussie share market will open 0.46% higher this morning, with the market on track to finish higher for the first time in five weeks.

What to watch today:

• Continue to keep watch of travel and tourism, as well as food and beverage stocks as from Monday the 11th of October, fully vaccinated adults in NSW will enjoy more freedoms as several restrictions are eased as part of the reopening roadmap. 
• In economic news, yesterday, the services sector reading for September edged up 0.1 points to 45.7 from 45.6 in August, which points to the second consecutive month of contraction in the services sector. Today, investors will digest the latest building permits data for August, and the RBA will release its semi-annual Financial Stability Review, with talks that lending and housing are likely to feature prominently.  
• Companies that are paying their latest dividends include Healius (ASX:HLS), Reliance Worldwide Corporation (ASX:RWC), WiseTech Global (ASX:WTC) and Woolworths (ASX:WOW).
• The most traded stocks by Bell Direct clients yesterday included Whitehaven Coal (ASX:WTC), its shares fell 7% following the ongoing energy crisis that saw global coal futures tumble yesterday. Another most traded stock was Red 5 (ASX:RED). The gold stock charged about 18% yesterday as the business made further headway at is cornerstone King of the Hills (KOTH) project, where construction is underway on one of Australia’s most well-endowed gold assets.
• The oil price resumed its rally, lifting 1.1% higher to US$78.84 a barrel, now trading back at 7-year high territory. This comes as the market deemed it unlikely that the US would release emergency crude reserves or ban exports to ease tight supplies. 
• The gold price fell following a drop in US weekly initial jobless claims, which boosted treasury yields. Meanwhile, the seaborne iron ore price traded slightly higher, at $118. 

Trading ideas:

• Bell Potter has reiterated its BUY recommendation on software company, Envirosuite (ASX:EVS) with an increased price target of $0.22 (previously $0.20). EVS closed higher yesterday, up about 16% to $0.18, which implies about 19% share price growth.
• Bullish charting signals have been identified in Red 5 (ASX:RED), Lynas Rare Earths (ASX:LYC) and Piedmont Lithium (ASX:PLL) according to Trading Central.

The ASX200 extended its poor performance yesterday, falling about 1%. This dragged the market to a four-month low. Rising bond yields and a fall in the iron ore price put pressure on all sectors, with tech stocks taking the biggest hit. 

The market was mixed in the US. The Dow Jones managed to add 90 points, the S&P500 slightly rose 0.16%, while the tech heavy Nasdaq came under pressure, falling 0.24%, following the volatile 10-year Treasury yield. The House on Wednesday passed a bill to suspend the US debt ceiling as the US heads towards a first-ever default with no clear solution in sight.

Following the mixed session on Wall Street, the futures are suggesting the Aussie share market will open 0.32% higher this morning.

What to watch today:

• In economic news, building permits will be released today. Consensus expects total dwellings approved in Australia to decline 5%, after the 8.6% drop in the prior month. 
• Companies that are paying their latest dividends include Bendigo and Australia Bank (ASX:BEN), CSL (ASX:CSL), Fortescue Metals Group (ASX:FMG), Newcrest Mining (ASX:NCM) and Ramsay Health Care (ASX:RHC). Separately, Westgold Resources (ASX:WGX) goes ex-dividend today. 
• The most traded stocks by Bell Direct clients yesterday included Mineral Resources (ASX:MIN). Its shares fell 5.6% yesterday following the decline in the iron ore price, which is driven by power outages in China and lingering concerns over Evergrande’s default. Other highly traded stocks included ANZ (ASX:ANZ), Tabcorp (ASX:TAH), Regis Resources (ASX:RRL) and Brambles (ASX:BXB).
• The oil price edged lower on Wednesday to about US$75 a barrel. This comes as US crude inventories rose more than expected, despite OPEC planning to maintain its deliberate approach to adding supply to the market despite strong worldwide demand. 
• The uranium price rose 5%, while on the flip side, the lithium price fell 5%. Meanwhile, the gold price fell following the dollar rising and due to the growing confidence that the Fed will soon begin winding down its economic support measures.

Trading ideas:

• Bell Potter has rated iron ore exploration and development company Genmin (ASX:GEN) as a Speculative BUY, with a price target of $0.44. GEN closed yesterday at $0.17, which implies about 159% share price growth.
• Bullish charting signals have been identified in Insurance Australia Group (ASX:IAG), Resolute Mining (ASX:RSG) and Perseus Mining (ASX:PRU) according to Trading Central.

Following a mix of good and bad market news this week, the Aussie share market traded cautiously, closing flat (Mon-Thu). And with reporting season officially wrapping up, it was mostly good news for investors.

In this week’s wrap, Jessica covers:

• (0:17) Why volatility may increase in the short term
• (0:41) Good and bad market news this week
• (3:05) The Tech sector making a comeback, rising 2%
• (3:51) Five commodity stocks that saw big gains
• (5:09) A uranium stock that stole the show, lifting 33%
• (5:37) The reporting season finale: 78% of companies beat or met earnings estimates

US stocks surged to new records again overnight, as investors seek out higher growth assets ahead of the Fed scaling back stimulus. 

The Aussie share market will likely rally for the second day. The futures are suggesting a lift of 0.2%, with all eyes on tech stocks, reporting season and economic news.  What to watch today: 

• Building permits for July will be released today, with the market expecting a fall of 5%. Keep an eye on companies such as Brickworks (ASX:BKW), CSR (ASX:CSR), Boral (ASX:BLD) and other companies in the building material industry. 
• The iron ore price is steady at US$160. However, the short term indicators are flagging that the iron ore price should start to bounce back. 
• The copper price rose 1.1%, which supported New York listed BHP, rising 1.6%, and New York listed RIO followed. Watch Aussie listed BHP (ASX:BHP), Rio Tinto (ASX:RIO) and other iron ore and copper stocks. 
• The oil price steadied at US$69.17. 
• Company earnings today: 
  • Regis Resources (ASX:RRL) reported a 27% fall in profit to $146 million. The market expected profit of $156.5 million. 
  • Sandfire Resources (ASX:SFR) reported record profit. Net profit rose 132% to $170.1 million, falling slightly short of market expectations of $200.8 million profit. 
  • Regis Healthcare (ASX:REG) reported profit soared over 2000% to $19.9 million. 
• Companies going ex-dividend today: Appen (ASX:APX) and Link Administration (ASX:LNK)
• One of the most traded stocks by Bell Direct clients yesterday was Fortescue Metals (ASX:FMG). FMG shares rose 6.6%, trading above its 15-day average for the first time since July. The technical indicator MACD, looks like it will flag a bullish signal, suggesting FMG’s rally could continue in the short term. 

Trading Ideas: 

• Drilling company DDH1 (ASX:DDH) was reiterated as a Bell Potter BUY, with an increased price target of $1.48 (previously $1.45), implying 30% share price growth in a year. 
• Citi flagged Flight Centre (ASX:FLT) as a HOLD, following its results. Citi also increased FLT’s price target to $16.94. 
• Paladin (ASX:PDN), Red 5 (ASX:RED) and Perseus Mining (ASX:PRU) are all giving off bullish charting signals, according to Trading Central. 

 The Aussie share market is set to pull back 0.4% at the open if you go by the futures, with Tech stocks likely to pull back the most. 

What to watch today:

• Australia and New Zealand Bank (ASX:ANZ) reported results, with shares likely to lift 0.6%. ANZ half year profits rose 45% to $2.9 billion, supported by an improving economic outlook and an increase in loans.
• The UK Government are planning on easing COVID- 19 restrictions on the 17th of May. Keep an eye on ASX stocks operating in the UK, including Virgin Money (ASX:VUK), which is trading 55% higher this year and is the ASX200’s best performer in 2021.
• Amcor PLC (ASX:AMC) and Irongate (ASX:IAP) are due to report results today.
• Bank of Queensland (ASX:BOQ) to go ex- dividend today. 
• Building permits for March are out today with expectations that this they will rise 3%, following the 22% lift in February. Keep an eye on building construction companies like Fletcher (ASX:FBU), CSR Limited (ASX:CSR), Brickworks (ASX:BKW) and Boral (ASX:BLD). 
• The most traded stocks from Bell Direct yesterday: Dexus (ASX:DXS), Afterpay (ASX:APT) and BHP (ASX:BHP). 

Trading ideas:

• Flight Centre (ASX:FLT) was reiterated as a Bell Potter Buy, albeit with a slimmer $20 price target, that implies 24% upside
• Graincorp (ASX:GNC), Capral (ASX:CAA) and West African Resources (ASX:WAF) are all giving off bullish charting signals according to Trading Central.

The Aussie share market is in a bullish breakout uptrend, just a 3% puff away from the record high – hit in February 2020. 

Overnight US tech stocks put their foot on the gas – with investors buying back into stay at home economy stocks . 

What to watch today: 

1. Local stay at home economy tech stocks are set to thrive. Keep a watch on EML Payments (ASX:EML) which has already gained 17% this week and Afterpay (ASX:APT) which has lifted 14%.
2. Gold trades at a one-month high. Keep an eye on Gold stocks like Silver Lake Resources (ASX:SLR), Northern Star (ASX:NST) and Ramelius Resources (ASX:RMS).
3. Services Sector index data is out – tipped to show the sector grew in March as restrictions continued to ease and employment is a pre-COVID-19 levels.
4. Building permits are out – so keep your eye on building and construction stocks that are trading at 12 month highs like BKW, CSR, ABC and the like 
5. The RBA will realise their financial stability review report. 
6. Keep an eye on the most traded stocks from yesterday for our active trader desk, Bell Direct Advantage. They were: 88 Energy (ASX:88E), Province Resources (ASX:PRL) and Red Sky Energy (ASX:ROG).

Trading ideas: 

• Domino's Pizza (ASX:DMP) was re-stamped as a Bell Potter Buy with a $122 target, as German sales ramped up, while Bell Potter also sees Japan’s sales growing fuelled by half price takeaway orders and no minimum deliveries. 

• Bullish charting signals have been identified in Afterpay (ASX:APT), Emeco (ASX:EHL) and Silver Lake Resource (ASX:SLR) according to Trading Central.

The Aussie market is set to open higher, around 0.8%, which defies the losses that were seen over on Wall Street. 

Major tech shares were in the red after the 10-year Treasury yield reached its highest level since January 2020. Both Apple and Microsoft led the losses. They both fell about 1%. 

What to watch today:

1. Building permits for February are out today at 11:30am.  
2. The Oil price dipped 1.6% to US$60.55. This comes as the Suez Canal reopened to traffic and the dollar rallied. Focus in the market now shifts to a meeting between oil-producing nations where its expected that the supply curbs will be extended given dim demand prospects. 
3. The Gold price slipped nearly 2%. The firmer dollar, higher Treasury yields and hopes for a faster US economic recovery has dampened demand in the safe-haven asset. 
4. As for the most traded stocks yesterday from our active trader desk, Bell Direct Advantage they were: Byrah Resources (ASX:BYH), 88 Energy (ASX:88E), and Digital Wine Ventures (ASX:DW8).
5. Shares going ex-dividend today: Eagers Automotive (ASX:APE) and Harvey Norman (ASX:HVN). 

Trading ideas:

• Bell Potter maintains its Buy rating on Flight Centre (ASX:FLT) and price target for the stock at $21.50. Given the recovery profile of global travel remains in its early stages, and the roll out of the COVID-19 vaccinations programs is accelerating, Bell Potter believes FLT is highly leveraged to this step change and remains their key pick in the sector. 
• Bell Potter also has a Buy rating on AMA Group (ASX:AMA) however they have reduced its price target by about 11% to $0.85. This comes as the number of AMA job vacancy ads over the past weeks on sites such as Seek appear to be higher than usual, which suggest the company may be having some trouble sourcing qualified people. Despite this, Bell Potter sees good value in the current share price and the catalysts being a return to more normal operating conditions in FY22. 
• Noxopharm (ASX:NOX), Kina Securities (ASX:KSL) & Element 25 (ASX:E25) are all giving off bullish charting signals according to Trading Central. 

US stocks ended higher on Friday, with the benchmark index the S&P500 rising 1.7% to a record high, while Nasdaq ended up 1.2% as investors continue to chase stocks benefiting from the economy reopening. BHP and Rio Tinto listed in the US, both rose 3.9%, after the oil price rebounded, while the copper price jumped over 2%  back to it’s 10 year high neighbourhood, supported by better than expected economic growth numbers from the US last week.

What to watch today:

• Futures suggest a rise of 0.7% after the market rose 1.2% last week – its biggest gain in 5 weeks.
• Key economic data: building permits for February are released on Wednesday, Australian import and export data will be released on Thursday. Additionally on Thursday, retail and home loan data is set to be released.
• Stocks benefiting from the economic recovery in light of NSW and VIC restrictions have eased: Centuria Capital (ASX:CNI), Redcape Hotels (ASX:RDC), APN (ASX:ADI), Charter Hall Long WALE (ASX:CLW), Centuria Office REIT (ASX:COF)
• Oil stocks are likely to rebound as the oil price jumped 4% on Friday, following the Suez blockage.
• 88 Energy (ASX:88E) has been one of the most traded stocks over the past few weeks, and today it announced much awaited drill results from Alaska.
• The most traded stocks from our active trader desk, Bell Direct Advantage were: Digital Wine Ventures (ASX:DW8), Creso Pharm (ASX:CPH) and Airtasker (ASX:ART). 

Almost in a reverse of what we’ve seen over the last week, the Nasdaq surged 2.9% and the S&P500 rose 2.4%. Investors bought heavily into big tech giants and economic recovery stocks, and sold down on bonds. So long-term interest rates have fallen and importantly they’ve also stabilised, proving the risk on mood is back. 

The futures are suggesting the Aussie share market will lift 0.7%, which will be a nice addition to yesterday’s 1.7% push up. 

What to watch today:

• Tech stocks will see a lot of action today - after pulling back 13% last week. 
• Agricultural stocks like Elders (ASX:ELD), Greenlane Renewables (ASX:GRN), Nufarm (ASX:NUF) and Rural Funds Group (ASX:RRF), as the Ag-body ABARES is forecasting the sector will recover $66b of their produce this year. 
• Aged care companies like Estia (ASX:EHE) and Regis (ASX:REG) who are likely to receive an extra $452m in funding in the wake of the Aged Care Royal Commission.  
• Building permits are out today for Jan - the market expects permits to have fallen 3% in Jan. 
• The RBA meets today – all eyes will be on stimulus - as in how much more bonds will be bought to keep the AUD low. 

Trading ideas:

• Atomo Diagnostics (ASX:AT1) was initiated as a Bell Potter speculative Buy with a $0.60 target, implying 155% upside. 
• UBS increased its Buy recommendations on Nufarm (ASX:NUF) with a $5.70 price target. 
• BlueScope Steel (ASX:BSL), Straker Translation (ASX:STG) and OFX Group (ASX:OFX) are all giving off bullish charting signals according to Trading Central. 

The Aussie share market is eyeing a gain of 0.9% at the open, following a positive night for U.S. equities and commodities. 

Overnight in the U.S., the Federal Reserve kept interest rates on hold at 0.25% as most expected. 

Companies reporting today:

• CIMIC (ASX:CIM) – half year results
• Fortescue Metals (ASX:FMG) – quarterly production

What to watch today:

• Rio Tinto (ASX:RIO) reported half year results after market close yesterday with its earnings dropping less than UBS expected. 
• Macquarie (ASX:MQG) holds its AGM today. 
• Building permits are out for June, expected to recover from -16% and show a rise of 1.5%. So watch building supplies companies like CSR (ASX:CSR) and Brickworks (ASX:BKW).
• In the U.S. tonight, we’ll learn how much the economy fell in the second quarter, with growth estimated to fall from -5% in Q1 to -34.1% in Q2. 

Local trading ideas:

• Bell Potter upgraded family tracking and safety app, Life 360’s (ASX:360) buy rating and price target to $5.20, implying 60% share price growth from yesterday’s close price of $7.99. This month its shares recovered from its COVID-19 losses after gaining 59%. Life360 delivered maiden positive quarterly cash flows, a US$6.9 million turnaround due to tight cost controls and resilient subscription numbers during the lockdowns. 
• Bell Potter also upgraded Aussie car dealership giant, A.P Eagers’ (ASX:APE) buy rating and price target to $9.00, implying 13% share price growth from yesterday’s close price of $33.61. APE held its AGM yesterday, announcing first half profit before tax of $40.3 million, which was stronger than expectations. Its corporate debt was $7.6 million, far less than expected, emphasising APE’s strong management. 
• Following APRA’s capital management guidance released yesterday, easing restrictions around paying dividends, Bell Potter reiterated ANZ (ASX:ANZ), CBA (ASX:CBA) and NAB (ASX:NAB) as buys, reiterating holds for Westpac (ASX:WBC), Bendigo & Adelaide Bank (ASX:BEN) and Bank of Queensland (ASX:BOQ). 

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