ASX soars on trade war and housing crash

David Llewellyn-Smith

Thursday, 12 July 2018

AUD is still weak through the morning:

Bonds are selling:

XJO to the moon!

Dalian is firm in the hope for Chinese stimulus even as the PBOC crunches CNY:

Big Iron is off a bit but nothing like ADRs:

Big Gas is getting the treatment:

Big Gold is again up on AUD over AU:

Big Mortgage is ripping:

Big Realty meh:

For a country on the receiving end of the trade war and a housing correction there sure is some hope in the ASX bid.

Bad news is good news!

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.