Australian dollar breaks, ASX hits new high

AUD breaks again:

Mid-71s looming as crucial support.

Long bond yields are falling too as wages go precisely nowhere:

ASX lovin’ it:

Dalian is sniffing at those Chinese house prices:

Big Iron is down anyway:

Big Gas looks toppy:

Big Gold is in trouble as DXY powers:

Big Mortgage is enjoying falling yields but CBA is ex-div:

Big Idiot still thinks house prices are going up:

Go down yer good thing!

David Llewellyn-Smith is chief strategist at the MB Fund which is long US equities that will benefit from a falling Australian dollar so he is definitely talking his book. Below is the performance of the MB Fund since inception:

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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.