Australian dollar squashed as yield spread enters free fall

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Something strange has happened to my charts this morning so apologies but here’s the wrap:

  • DXY was stable;
  • AUS was down against DMs and EMs;
  • gold and oil were hit;
  • base metals were mixed;
  • big miners and EM stocks fell;
  • junk was OK;
  • Treasury yields lifted, bunds were bogged
  • and stocks eased a touch.

US growth is ripping:

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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.