ASX, Aussie banks continue free fall into housing bust

The AUD is holding up this morning despite the NAB survey swoon:

Bonds are consolidating after the big bid. More buying to come:

The ASX can’t get off the mat after yesterday’s knockout:

Dalian is stable:

Big Iron too:

Big Gas not so good as oil ignores OPEC:

Big Gold has a sniff of the Fed still:

Big Banks have fallen further this morning after yesterday’s RBA-led smash. Looks like markets are waking up the housing nightmare here:

Big Realty is also under more pressure:

That’s a pretty weak performance following yesterday’s rout and decent offshore lead.

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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.