Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Dirt high-flyers tumble as banks rock the AAA

David Llewellyn-Smith

Monday 19 December 2016

Big Iron has bifurcated today. Dalian is down a little more from overnight:

As Chinese bonds continue to get absolutely flogged:

And CNY to fall:

BHP is 1.1%, RIO 1.2%, FMG -3.3% and WHC -2%:

The high flyers look very vulnerable as the bulks keep falling.

Big Gas is firm:

Big Gold mixed:

Big Debt strong as the AAA is so far intact:

And Big Spruik mixed as well:

Not sure why the whole bourse is pleased today. Punting on S&P gains as tensions ease I guess.

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.