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AUD is down through the morning:
As DXY threatens breakout of an inverse head and shoulders bottom:
Bonds are bid:
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XJO is down a little:
But Big Iron is bashed (Dalian is shut):
Big Gas is down:
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And Big Gold:
Big Scum has caught a break as yields fall. This could be a tradable rally if markets begin to price lower yields but I very much doubt that this is the end of the bear market:
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Big Puswad is still oblivious:
Sell dirt, buy scum!
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.