Australian recession Commodities Global Macro

Markets party as Mining GFC 2.0 builds

David Llewellyn-Smith

Wednesday, 25 May 2016

Markets partied hard overnight on excellent US housing data with the S&P500 adding 1.5%:

The US dollar took off as the next rate hike was locked in:

Euro and yen were hit:

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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.