ASX fakeflates through 6000

The massively overheated Australian dollar is pulling back a bit this morning:

Bonds are bid after last night’s shellacking:

XJO has recaptured 6000:

On a cool 20x NTM PE, the highest since 1999 and the greatest bubble of all time, until today:

Big Iron ore still running and looks positively cheap with Materials on a shockingly low 15x NTM PE:

Big Gas is grinding higher:

Big Gold has failed again:

Big Banks are the next faker, surging into the fake sector rotation:

Now on the highest NTM PE ever:

As Big Chunt parties on the very disappointing housing stimulus:

Next up for the Great Fakeflation is a fake inflation scare as an entire financial cycle is played out in a strange fantasy lasting a few months.