Aussie bank bubble...

...is getting plenty of attention.  Here's some of the commentary:

It seems analysts are finally catching on to what we here at the Motley Fool have been saying for some time now. Share prices of the major banks have been inflated well past any measure of relative value.(here)

...and via the FT, via UBS:

 The Aussie banks are very good companies. They are profitable, resilient, well capitalised, well managed, shareholder focused and have a very strong industry and regulatory structure. However, following the significant leveraging of the Australian & NZ households over the last thirty years they are now low growth and remain heavily exposed to housing, funding markets & unemployment risk (here).

John Collet at the Sydney Morning Herald cared to disagree however:

Investors believe that lower interest rates are here to stay and the big bank profits add to their confidence....For Shane Oliver, chief economist at AMP Capital Investors, there is a risk of its becoming a bubble but "we are not there yet".
The banks are well managed and increasing their profits. One risk would be if interest rates were to rise. But markets are expecting the next move in interest rates to be down. (here)

The key phrase there being "well managed" - that will remain to be seen!