BOQ canary croaks on banks

The AUD is a little soft this morning:

The lunatic RBA has paralysed bonds for now:

XJO is down moderately:

Dalian is soft:

And Big Iron:

Big Gas is still enjoying its deluded political risk holiday:

Big Gold is mixed:

Big Banks are sick:

Made that way by the croaking BOQ canary which has broken its monthly chart lower (though is still hanging onto the daily):

Big Realty is mixed with MEA threatening more new lows:

Will BOQ be the lunatic RBA’s sacrificial lamb? Judging by today’s awful trading update it’s entirely possible.

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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.