Big iron, Aussie dollar enter melt up

So much for rebalancing! It’s back to China with a dirt bullet as the Aussie dollar surges towards 78 cents:

Driven by wild iron with Dalian already adding 2% to its overnight gains and triggering panic buying in miners with BHP up 4.7%, RIO 3% and FMG 5.3% with all three breaking to new bear market highs:

LNG has caught the fever with WPL 3.3%, OSH 5%, STO 3%, ORG 6% and LNG -9%:

Banks too are up nicely with CBA 1.2%, WBC 1.2%, NAB 2.5%, ANZ 1.8%, BOQ 1.7%, SUN 1.4%, BEN 2%, MQG 3.3%:

Even McGrath is surging:

China and Straya are fixed!