ASX, Aussie banks, Australian dollar smashed

David Llewellyn-Smith

Monday, 10 December 2018

The Australian dollar has gapped lower this morning on lousy Chinese data:

XJO is down heavily and looks likely to close at new two year lows:

Bonds continue to boom:

Big Iron is solid on hopes of MAOR from Pooh of China:

Big Gas is down despite OPEC:

Big Gold is flying as the Fed pause gathers fans:

Big Banks are getting flushed as a dumberer RBA says the next move is up as the housing market implodes:

And Big Realty is still pretty deluded about what’s coming:

Which is a house price crash right now!

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.