Banks shares rally as bonds break

David Llewellyn-Smith

Thursday 28 June 2018

AUD is firmer this morning on job ads (that are backwards looking):

Bonds are bid and long end yields look to be breaking down:

XJO is up modestly despite weak leads:

Dalian is treading water:

Big Iron is mixed:

Big Gas is on fire still:

Big Gold up on the AUD versus AU:

Big Mortgage is rallying again as bond yields fall:

Some calm in Asia helping.

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.