Kind of. The Australian dollar is up and away as China’s Li Keqiang makes soothing noises today:
Aussie bonds are getting hosed. The short end even threatening to break out. Great buying for mine:
ASX is up modestly:
Dalian too:
It’s all about dirt as markets shift to incorporate more Chinese stimulus. Big Iron is jumping:
Happy to say we picked up some RIO recently.
Big Gas is up, perhaps on LNG tariffs:
Big Gold has warmed:
Big Mortgage is struggling with rising bond yields. Herein lies the trouble for any sustained rally in the ASX:
Big Realty is struggling:
And a bonus chart. ASX growth stock bubble bursting as AUD rises?
I do not think that this is paradigm shift. Perhaps a tradable rally. But it is what I’ve been talking about recently with miners likely to come back into fashion as China’s trade war response shaped up.
