Mirabile dictu: RBA sinks Australian dollar

For once in its life the RBA sank the Aussie dollar today (after APRA lifted it):

Bonds are bid again:

XJO is in heaven:

Dalian firm:

Big miners taking a breather:

Big Gas too:

Big Gold liked the lower AUD:

Big Banks are afire:

But Big Realty is getting hit by tech:

The Plunge Protection Team is unleashed.

Comments

      • I don’t take lip from non-member snots cloaked in anonymity.

        I see nothing in the re-election of the L/NP that can stop the land price crash. The greater fools with mega-mortgages on consumption assets are being fried to a crisp. They can barely afford interest payments and their capacity to make meaningful principal reductions is zero.

        Interest rate cuts? Don’t make me laugh. Once the RBA cuts 0.5 it is out of ammo. Then what? A triumphant Scummo will execute QE for the wealthy – that will really hollow out the middle class. This baby’s gunna blow!

        Don’t Buy Now!

      • @Collyer – Snots, eh? Thanks for that. I DID put you as the number 1 on my senate ballot sheet. Not that it did any good to anyone…

  1. Sell XJO. It’s been artificially inflated by compulsory super and also tax gifts to baby boomers.

    The boomers are now shifting from dividend reinvestment to dividend income. The next shift, which many will whinge and scream about will be drawdown of capital. The shift to that phase will be accelerated by the prolonged period of negative dividend growth – which Australia has recently entered and will start to become a major media/BBQ/political issue in the near future.