The Australian dollar is grinding lower today as risk is spooked globally:
Bonds remain heavily bid:
Stocks have firmed for a mighty double top. S&P futures are down solidly:
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Dalian can’t catch a bid despite new supply threats:
Big Iron is down:
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Big Gas even more:
Big Gold is firm with NCM breaking out:
Big Banks bear market rally looks cooked:
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Big Realty is a deer on the headlights. MEA at new all-time lows:
If the global economy rolls in any way, the RBA’s supposedly “orderly” property adjustment will be exposed for what it is: a rout.
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