Australian banks Australian LNG Commodities

Dalian opens, tanks

Tuesday, 10 May 2016

Dalian is open and ScoMo wishes it wasn’t as it has immediately sunk -2% from yesterday’s close. BHP is down -5%, RIO -4.35% and FMG -6%:

Big gas is likewise being punished after yesterday’s Dunciad rally with WPL -3.5%, OSH -3%, ORG -3% , STO -4.4% and LNG -2.6%:

Banks are offering some offset as the yield trade warms up again as CBA adds 0.8%, WBC 0.3%, NAB 0.5%, ANZ -.4%, BOQ flat, SUN flat, BEN 0.6% and MQG is off to the races at 2.2%

A little more reality today.

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.