All the ASX needed was a China holiday!

David Llewellyn-Smith

Monday 2 October 2017

With Dalian closed the local bourse is at last free to pretend it’s all good:

Big Iron is flying as China slows:

Big Gas is flying because oil fell:

Big Gold is flying because gold fell:

Big Banks are flying as house prices fall:

Likewise Big Liar:

The desperation is palpable.

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.