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The ASX has rallied off its lows along with regional bourses this afternoon and despite materials continuing to struggle with rebar futures still falling sharply in China:
The leading sectors are either defensive or interest rate sensitive:
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US futures are up solidly as well, no doubt as the Boston shock dissipates.
It’s the bad news is good news rebound already!
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.
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