Aussie Stock/Bond Ratio
As a bonus chart and a plug for my new Aussie markets pack, here’s how the Australian stock/bond ratio is tracking. Much like the USA, it is looking very much stretched —certainly relative to the usual range/trend it typically travels in.
As it happens the latest chart pack shows Australian equities close to fair value (slightly expensive, but certainly with pockets of sectors looking much more expensive than others e.g. tech, financials, and others looking cheaper).
But more important: Australian Commonwealth Government Bonds and Australian Corporate bonds are both showing up as very cheap — and with their trend score changing from downtrend to strengthening uptrend.
That is about as bullish as it gets: cheap + emerging uptrend = big opportunity.
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