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.
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As banks free fall, funding costs skyrocket
The AUD is soft through the morning: Bonds
Macro Afternoon
Not a positive way to finish the week here in
What to expect from asset markets in 2019
Via the excellent Bill Evans at Westpac
UBS: Labor franking reform to boost buybacks
Via UBS: ...Labor's proposed franking
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
Feb at the earliest. Market is till very short.