Sykesnado continues to shred banks and miners

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The Sykesnado continues to shred shares as banks, miners and gas all fall. For the first, CBA is down -0.7%, while WBC, NAB and ANZ remain in free fall down -1.9%, -1.7% and -2.1%. The mid-tiers in BOQ and BEN are the same at -3% and -4.3%. SUN is going the other way:

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The CBA holdout make absolutely no sense of course.

For big iron, BHP is down -0.8%, RIO just -0.2 after its profit shocker showing we are still miles from capitulation and FMG is hammered -4.7%:

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Finally, big gas is also on the nose though is getting support from the fantasy OPEC comments of the UAE with WPL down -0.5%, OSH -0.7%, ORG -0.6% and LNG -2%. The mysterious STO rally continues up 4.5% and one wonders if someone has wind of a deal that should be a secret:

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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.