ASX smashed again. Property, tech bubbles bursting?

AUD was saved by the NAB survey this morning:

Bonds are hosed:

The ASX is hammered another -1%:

Even though Dalian is up:

Big Iron is mostly down:

Big Gas is down:

And Big Gold:

Big Mortgage is in free fall:

WBC is leading now having broken support that has held it up since 2013:

$20 looks to be the next serious support level…

Big Realty is also breaking with REA coming off a massive double-top and GMA approaching key support:

That may be a part of the a broader story as the tech bubble also deflates:

Rising US interest rates are claiming more and more high-multiple assets at the fringe…

Share

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.