More record highs for bonds, new lows for Australian dollar

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The Australian dollar remains under pressure this morning:

Bonds are at more record highs at the long end:

And with the lunatic RBA still holding up the short, the curve is being mown down:

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XJO is down with its mega-double top still in play:

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Big Iron is up and threatening breakout:

Big Gas is down with oil. God knows its political risk is soaring as ravages the east coast:

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Big Gold is firm. I remain skeptical:

Big Banks are weak:

Big Realty is getting the treatment. REA has a monster head and shoulders topping pattern that is approaching some critical test:

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Good luck with that.

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.