Banks go boom as bear market rally takes hold

AUD is roughly flat on the day after weak CPI round trip down:

Bond are bid moderately:

XJO is up:

Dalian is OK:

Big Iron is getting hit as the pincer of rising oil and USD/falling commodity prices takes its toll:

Big Gas is up and away on oil:

Big Gold is down hard. Sell, I say, as the USD breaks higher:

Big Scum is rallying as yields fall and the 10% grossed-up dividend bribe works its magic. This rally is a great chance to exit:

Big Puswad is still asleep to what’s coming:

It happens very slowly and then all at once.

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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.