Banks sink ASX

Tuesday, 2 October 2018

Nothing is more reliable in global markets than the corrupt RBA pushing the currency higher. This afternoon’s meeting is already doing it this morning:

Bonds are selling:

XJO is threatening to break down:

Big Iron is OK:

Big Gas strong with oil:

Big Gold weak:

Big Mortgage is getting smashed and is headed for the lows (and through them I reckon):

Big Realty still isn’t following but it will:

Not even a corrupt RBA can save this holed Titanic.

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.