Dirt rotation accelerates

David Llewellyn-Smith

Wednesday, 26 September 2018

AUD is up through the morning:

Bonds are bid:

XJO is struggling to go higher:

Dalian is up:

And the dirt rotation is accelerating with FMG up as well as 58% iron ore which rallied to six month highs:

Big Gas is powering:

Big Gold meh:

The rotating is out of Big Mortgage as Hayne approaches:

And Big Poop:

It may surprise you but all 90% of Aussie fundies need to do to be a hero is bet right on red or black – miners or banks.

Right now those on red are prospering.

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.