Aussie dollar crushed as bonds move deeper into recession pricing

The RBA is about effective as a flee in a gale right now. The AUD has been bashed through the morning following the RBNZ beaut plus Chinese industrial profits falling the most since 2011:

Bonds have hit all new highs at the long end as the deflationist RBA holds up the short:

The result is a fast flattening curve beginning to sing shrilly of recession:

Needless to say, XJO doesn’t like it:

Dalian is a nothing burger but Big Iron is up:

Big Gas is mixed:

Big Gold down:

Big Banks are sinking:

Big Realty is mixed with REA targeting as retest at $70 within a bearish descending triangle:

A whiff of panic today.