Australia dollar thumped into 76s as yield spreads bashed

Thursday, 26 October 2017

The Aussie dollar is getting a good old fashioned thumping now:

The NZD is helping as Jacinda pulls the rug from under the immigration-led growth ponzi:

But the main driver is the crashing yield spread to the US after yesterday’s weak inflation print. Aussie bonds are bid:

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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.