ASX charges higher as yields break lower

David Llewellyn-Smith

Wednesday 18 October 2017

The ASX200 melt-up continues today:

The key to it is still driving as bond yields fall away:

Dalian has held its gains today:

Big Iron is resting:

Big Gas too:

Big Gold no longer cares that gold is falling!

Big Sleazy is mostly up:

Big Liar too:

So long as yields keep pricing out rate hikes this can run…

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.