ASX sinks to new lows as banks threaten break down

Wednesday, 4 April 2018

The Aussie dollar is up a bit today after OK retail sales in March:

Bonds are getting sold and, amusingly, the short end is even threatening to break out. There is not one rate hike coming let alone three:

The ASX is at new closing lows if it holds here:

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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.