Bank shares rally as crime pays

David Llewellyn-Smith

Tuesday 5 June 2018

AUD is down this morning as GDP hopes fade a little on net exports:

Bonds are still hosed:

XJO is down solidly:

Dalian up modestly:

Big Iron is down:

Big Gas is down:

Big Gold is flat:

Big Scum is still trying to recapture support levels now that crime pays. Forgotten for now is that the real risk is the bubble:

Big Realty is soft:

A bourse going nowhere thanks to the unprecedented corruption of everything.

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.