ASX, Australian dollar, banks end year circling drain

David Llewellyn-Smith

Monday, 24 December 2018

The AUD has a little bid this morning as markets shake off the Trump nausea:

Bonds are bid again:

XJO is circling the drain:

Big Iron is up on hope of stimulus that is not coming:

Big Gas is up on hope for OPEC cuts that aren’t coming:

Big Gold is down amazingly:

Big Banks ex-teflon CBA are at more new lows. WBC is shaping as the fall guy of the bust:

Big Realty is getting hosed:

And that’s all she wrote for 2018. Avagoodbreak. Be safe and thanks for reading.

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.