Banks party as economy, Australian dollar tumble

David Llewellyn-Smith

Tuesday, 5 February 2019

The Australian dollar continues to correct as economic data sours fast:

XJO is partying like its 1987:

Bonds are threatening breakout:

Big Iron is building into a bubble:

Big Gas is up as AUD falls:

Big Gold too:

Banks are bid wildly on a Hayne RC short squeeze:

As realty sinks and brokers crater:

Beyond the flowing champagne, an economy being sucked into a housing crash is not bank bullish!

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.