ASX, Aussie dollar ignore slumping iron ore

David Llewellyn-Smith

Monday 16 April 2018

Virtue signalling missiles is all that matters today with the AUD up:

Bond yields threatening to break out:

And XJO rallying:

Underneath it all, Dalian is -2.8% and getting worse after China’s lousy weekend credit data and another PBOC money market rate hike today:

Big Iron doesn’t care:

Big Gas is off to the races:

Big Gold too:

Big Sleazy has a little bid:

Big Pus is mixed:

A great day to sell dirt equities.

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.