PM Dutton sinks ASX

David Llewellyn-Smith

Wednesday, 22 August 2018

AUD is soft through the morning after last night’s jump:

XJO is down solidly on either US futures or PM Dutton:

Bonds are flat:

Dalian flat:

Big Iron is copping it with FMG again breaking down:

Big Gas is down on PM Dutton’s energy royal commission which will find them guilty:

Big Gold has caught a break:

Big Mortgage is getting pounded for fear of the unknown and a bit of nerves around immigration:

Big Realty likewise:

Canberra chaos does not usually register but it is extreme today.

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.