Australian dollar hammered into 0.68s as bond boom goes nuclear

See the latest Australian dollar analysis here:

Macro Afternoon

The Aussie dollar crashed into the 0.68s on the weak jobs numbers:

The bond boom is now in uncharted territory:

The slope steepened as two rate cuts are priced at the short end:

XJO yawned:

Ironically, Dalian is flying:

Big Iron is trying:

So is Big Gas:

The Big Gold AUD play is back:

Big Banks are up a little on the steepening curve but going ex-div:

Big Realty is firm on coming rate cuts. MEA is going out of business:

‘Ware the Lunatic RBA!

David Llewellyn-Smith
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  1. RBA won’t cut and risk a total rout on the AUD, the imported inflation will wipe the floor with everyday punters. The downside risks are much higher than the upside benefits now. The last thing we need is higher cost of living before we get wage inflation. Save some pennies for the rainy days that are coming my furry friends. The recession is already baked in no matter what the powers that be choose to do.

    • consequence of misreading everything and sitting around doing nothing with rates on hold.
      Not only are they not front running, but they are slow to react with a lever that takes a while to get a response.
      On the bright side its nice to have some fixed stability somewhere

    • DingwallMEMBER

      Since when have the elite and their cronies worried about the “everyday punters”.

      • Good question… but oftentimes lower AUD boosts XJO… and falling bond yields boosts bank shares… so for now international macro dynamics seem a much stronger influence on XJO than domestic ones.