From Credit Suisse:
Australia remains unattractive to investors seeking growth but should appear very attractive to those looking for income. As one would expect in a low growth market, the expected dividend yield is relatively high.
The bottom-up forecasts for June-2016 imply a dividend yieldThe ASX of 5.1%. This is more than double yields in the US and Japan. It is also more than double the yield on offer on Aussie cash and government bonds. We continue to expect more to flow out of these two assets into Aussie equities.