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Enjoy long weekend, buy a bank

Tuesday 13 June 2017

That seems to be the depth of reasoning overtaking the share market today as banks soar. After all, nothing says buy banks more than a crashing global yield curve and an even more rapidly deteriorating local economy. Booya!

Go figure.

Meanwhile, Dalian is OK so far:

Though Big Iron is not so good following overnight falls:

Big Gas is also struggling:

As is Big Gold as the USD tries to find a bottom:

Big Liar still looks peaky:

Excuse me while a buy a bank (NOT)!

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.