It’s macrobation day. More on yesterday’s ANZ note:
One of the puzzles of this cycle has been the persistence of AUD strength and the AUD’s ability to outperform against a number of other global betas to which it has traditionally been correlated, eg Asian equity market performance.
This may have been driven by a heightened focus on sovereign ratings
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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.
