Bad news is good as ASX runs for decade high

Tuesday, 15 May 2018

The Australian dollar is up a little during the morning:

Bonds are sold:

XJO is running for a decade high. Recall that this run began with the falling AUD and especially weak retail sales. Bad news it good:

Dalian has held overnight gains:

The BHP boom is in clear air. FMG is approaching its upper downtrend line:

Big Gas is soft:

Big Gold too. I remain cautious:

Big Scum is bid as NAB goes ex-div:

Big Realty is up too, especially the listings duopoly which sees no housing downturn at all:

It will!

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.