ASX selling continues as yields rise

David Llewellyn-Smith

Monday 5 February 2018

The risk off mood is still in control of markets. The AUD is soft:

Yields are still rising:

And the ASX is down -1.45% and looking a bit double toppy:

Dalian is OK so far:

Big Iron is copping it:

Big Gas too:

Big Gold may be signalling a turn for the USD:

Big Sleazy is not enjoying this kind of curve steepening:

And Big Puswad is a case of run for the hills:

MEA getting flushed but not yet at new lows sadly.

More broad selling to come in my view.

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.