Markets are completely mis-pricing Australia

See the latest Australian dollar analysis here:

Macro Afternoon

The AUD is down during the morning after poor construction work done:

Bonds are bid but nowhere near enough. There is growing evidence that the Sep QTR was the pivot to much lower growth ahead:

XJO is flat:

Dalian is boring:

Big Iron is down. RIO has a horrible head and shoulders topping pattern which is making me quite nervous:

Big Gas is still falling:

And Big Gold:

Big Banks bounced yesterday arvo but are calm again. One wonders if the bond bid will ignite them for one last roll of the dice before doom sets in:

Big Realty has so far yet to fall:

The great Australian mis-pricing continues as the Sydney and Melbourne house price crashes build but everything is still priced for rate hikes.


David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)


  1. Don’t worry. We have a functional government, full of good ideas and policy courage, not at all distracted, certainly not demoralised or desperate, with a terrific unity of purpose, effective leadership and a great track record.

    They will save us.

  2. “mis-pricing” – clearly. Result? Inevitable ……. when the mis-pricing is understood the correction will be proportionally greater as the illuminati hide egg on face ………..

    • yeah, it seems markets are mad the majority of the time and occasionally come to their senses only for the crazy to take over again after awhile. Rinse and repeat.