Why do Australian banks pay absolute garbage interest rates for deposits?

@matt_barrie Why can't Australians get 30 year fixed interest mortgages like Americans? Answer: competition (or lack thereof).

@MachineGoPing @matt_barrie You have no idea what you’re talking about.

@MachineGoPing @matt_barrie No it’s because we don’t have a robust capital market.

@MachineGoPing @matt_barrie Incorrect. Liquidity in the 30 year US swap market is exponentially bigger than for AUD, even after accounting for the difference in sizes of the underlying mortgage markets.