Free falling banks drag ASX to new correction low

David Llewellyn-Smith

Tuesday, 20 November 2018

The AUD is still firmly bid this morning:

The RBA-inspired mis-pricing of Aussie bonds rolls on:

But XJO has sunk to what will be a new correction low if sustained into the close:

Big Iron is soft:

Big Gas hammered:

Big Gold is firm:

Big Banks are still free falling:

Big Retail is on the verge of joining them:

As Big Realty keeps falling:

The RBA may see a property bust with no consequences but, increasingly, equities don’t.

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.