Bonds boom as ASX struggles

The AUD is roughly flat through the morning:

Bonds are threatening to break out as the bid booms. Pleased to report we went long a fortnight ago:

And the ASX struggles:

Dalian is flat:

Big Iron is mixed:

Big Gas is sinking again. Spot regional LNG prices are now sliding with oil:

Big Gold is showing some life. You could be forgiven for concluding that there’s short term upside here as the Fed gets dovish:

Big Banks have rolled again:

Big Realty always goes up!

There’s a market regime change underway.

David Llewellyn-Smith
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  1. I am feeling the AUD may have seen it’s high at 7395
    Market is still short on the CFTC – does anyone know if 40,000 to 50,000 contracts is really a big deal?
    You would have to think RBA is going to an easing bias at today’s meeting or at least by Feb