Australian bank bear market roars

The AUD is up during the day:

Bonds are bid modestly:

XJO is flat:

Dalian is struggling:

Big Iron is down as the oil/slowing China pincer bites. Crap Vale earnings isn’t helping:

Big Gas is afire. If we sell STO I will personally set Canberra alight:

Big Gold is holding. I say sell:

The bank bear market is roaring along with WBC leading as UBS destroyed it with a “sell” order today:

Share

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.