Australian dollar into the 82s

Monday, 8 December 2014

Bring the sugar! The Australian dollar is into the 82s this morning after a torrid Friday night:

The solid US jobs report opened the trapdoor as expected. Aussie bond yields rose on the news, erasing most of Friday’s falls:

But they could not keep pace with US yields which soared and the spreads all hit new narrows:

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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.