Big iron flames out

David Llewellyn-Smith

Friday 18 May 2018

The AUD is up a bit through the morning:

Bond are selling and even more mis-priced:

XJO is down again with the big double-top still in play:

Dalian is soft:

As is Big Iron:

Big Gas rocks on:

Big Gold may finally be capitulating:

The selling has returned for Big Scum:

But the buying goes in Big Realty which no longer needs debt to prosper. Even pre-nationalisation GMA is back:

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.