ASX screams policy error at RBA

The world’s crappest bourse knows a policy error when it sees one. As the Aussie flies on RBA wings today:

The ASX200 is down firmly and still sporting a nasty head and shoulders topping pattern with a neckline around 5600:

Bond yields are getting hosed:

Dalian is going nuts:

Big Iron is mostly up but underperforming ore. RIO is getting a big frown its supply shenangins:

Big Gas is down:

Big Gold still looks troubled:

Big Bubble is not at all happy as the RBA crushes the yield curve:

Big Liar is ignoring it all. I can’t find any news driving the rebound in MEA:

In no uncertain terms the bourse is screaming policy error at the RBA.

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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.