Record lows for McGrathmageddon

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AUD is down during the morning:

Aussie yields are too as bonds back away from a crazy break out:

XJO is off modestly:

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The Dalian bear market rally is still firmish:

Big Iron is off a bit. FMG has recaptured $4.50 but its larger bearish pattern is well intact:

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Big Gas is strong:

Big Gold soft:

Big Scum is hanging on, helped by the 10% grossed up dividend bribe. The only problem is that’s now a false premise as earnings get hit from all sides:

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Big Puswad is holding though MEA has hit record lows:

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I can’t find any specific reason for it so I guess it’s still trading on the state of a sliding Sydney property market.

Avagoodweekend.

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.