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.
Madness!
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Macro Afternoon
Asian share markets are following the
Macro Morning
By Chris Becker A muted night on risk
Australian dollar smashed again as risk retreats
DXY firmed last night as EUR fell: It was
Macro Afternoon
Asian stocks generally rose across the region
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.
… as long as we all learn to talk in tongues?
Arrow re MB comment will the bond bid ignite the banks I think it will
One last hoorah before 2020/21 caputcha
I still think we are going to break 7000 again as RBA pumps liquidity and rates go to zero
Not that is a very bold call.
Wealth destruction is global:, cash is king:
https://twitter.com/ThePainReport/status/1067349143352295424
US cash paying 2.2% 1 month TD
pretty good
“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.