CBA trails market as rate-cut bets drop
Commonwealth Bank of Australia traded lower on Wednesday even as the Australian market gained. The drop was small, but investors again asked if the largest bank in the country is worth its premium in a higher-for-longer rate cycle. CBA ended the session at A$160.24, slipping 24 cents from its A$160.48 finish on Tuesday. The stock traded between A$158.80 and A$161.50 during the day. The S&P/ASX 200 rose, adding 49.10 points, or 0.57%, to close at 8,653.30.