"Just finished the trial and now in for good. I enjoy your audio and I know I have lots to learn.

"I am confused about why the Australian banks are recommended in the high yield aristocrats as they are not Fullermoney themes. Didn't you previously state in your audio to keep clear of banks? Hope you can help"

Eoin Treacy's view Welcome to the Service and thank you for this question which I'm sure will be of interest to other subscribers. At Fullermoney we always pay close attention to the performance of banking sectors. There is a simple reason for this. Banks are providers of the liquidity necessary to fuel bull markets. In addition, banks often lead in a new bull market cycle. At least for the USA and much of Europe, this has not been the case on this occasion, primarily because banks were the focus of greatest risk during the latter stages of the bull market that peaked in 2007 and 2008.

However, major bull markets are fuelled by the increased availability of credit. Traditional banks benefits from the provision of credit. Since this is one of the basic ingredients for investment demand to take off, banks should perform at least in line with the market.

I reviewed Australian banks yesterday to illustrate the fact that they have not cut their dividends to the same extent as those in Europe and the USA and have comparatively high yields in absolute and relative terms. I was not recommending the shares as Fullermoney themes, merely reviewing their performance and highlighting the fact that they are bouncing from areas of previous support and are more likely than not to push higher in the short to medium term. Australian banks are not Fullermoney themes because they do not offer leverage to growth in the global economy. They do offer other attractions such for income conscious investors.