ASX rejects global stock bounce

David Llewellyn-Smith

Tuesday, 13 February 2018

The AUD is off during the day:

Bond are bid:

The ASX is only up modestly despite the big global bounce:

Big Iron is leading the way:

Big Gas is a bust with more pain ahead:

Big Gold is bid but still a sell for me:

Big Sleazy is the real worry. Falling today and in a downtrend as global rates rise:

Finally, Big Puswad is in free fall, with MEA leading the way:

Where property goes, Australia follows.

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.