ASX slammed by oil, jobs

The ASX two day boomlet has fallen over today, down 1.4% as I write. It started badly but then got worse with the good jobs number:

I guess the market was sneakily readying for more rate cuts. Not yet.

Meanwhile, Dalian is stable:

But Big Iron is getting slammed (even coconut vendor RIO):

As oil falls so do mining input costs and a deflationary loop forms for the commodity price deck…

Speaking of which, Big Gas is being mauled:

STO going to new lows…

Big Gold’s uptrend looks even better today as global lowflation returns:

But for banks, the collapsing yield curve is baaad:

Big Liar just doing its thing:

Hard to say what happens immediately from here but a higher Aussie is nobody’s friend.