Australian banks Australian LNG Australian Shares China Economy Commodities

If it digs, puke it!

Thursday 8 September 2016

Wall-to-wall dirt carnage today for no obvious reason. Could be China nerves with data season upon us. Big Iron is leading the way with BHP -2%, RIO -1.4% and FMG -2.2%:

Dalian has opened a little higher…

Big Gas is puking it too even though oil jumped this morning on US inventories with WPL -1.7%, OSH -1.4%, STO -0.8% and ORG -1%:

Big Gold is also off yesterday’s red hot action with RRL -2.5%, NCM -1.4%, IGO -3.6%, SBM -3.5% and EVN -1.4%:

US JOLTS (job openings) popped last night so perhaps there are some renewed Fed nerves here.

Banks are off too with CBA -1.3%, WBC -2%, ANZ -1.8% and NAB -0.9%:

I know Phil Lowe sounded a bit hawkish but not that much!

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.