Risk off Australia

Friday 24 May 2013

Don’t scoff at the Pascometer! With its recent warnings of dollar strength, bank strength and stock market strength it signaled the demise of all three. Today the ASX200 is selling off ahead of regional bourses:

Led by banks:

And a dollar that can’t find traction:

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.