Iron ore boom flushes cash into Australian dollar, ASX

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The Australian dollar is a little bid through the morning as iron ore flushes cash into everything Aussie:

XJO too:

Bonds not so much, with curve steepening still elusive:

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Dalian is flat after another overnight party:

But Big Iron is up and away. Can RIO run to a pre-GFC record high above $120?

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Big Gas is a little bid on the oil bounce

Big Gold is marking time at break out levels. There is a case for it f the trade war blows back into US growth and the Fed acts:

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Big Banks are still firm following their barrage of good news:

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Which is more obvious still in Big Realty:

Well ahead of the reality. Fair enough for the property listings stocks. Even MEA may not need to be de-listed! But a stock like CSR has a long pipeline of nothing before any turn in construction.

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.