See the latest Australian dollar analysis here:
So much for trade war relief. The triptych of bad Asian PMIs knocked the stuffing from the Australian dollar after it gapped up at the open this morning:
Aussie bonds were sold then bid:
But stocks are in no doubt as S&P futures fly:
And XJO follows:
Dalian is up too:
So Big Iron is leading:
Big Gas is up with the OPEC deal:
Big Gold is presenting a buying opportunity:
Big Banks are mixed:
Big Realty is up:
The ways of the market are now so thoroughly gaslighted by El Trumpo he could launch a nuclear strike on Planet Earth and stocks would soar.
David Llewellyn-Smith
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.
Latest posts by David Llewellyn-Smith (see all)
- CCP drives COVID-19 cases down like clockwork - February 18, 2020
- T’was the Lunatic RBA that killed Holden - February 18, 2020
- Tokyo Government: Virus “may be spreading in the capital” - February 18, 2020
YOU MAY ALSO BE INTERESTED IN
Scotty from Marketing rebrands global climate effort
At The Australian comes the reality: Scott
Macro Morning
By Chris Becker Risk markets traded
Australian dollar, forex signal global shock
Watching stocks you could be forgiven for
Macro Afternoon
Today's session in Asia was marked (sic) with
Yeah, finding value is getting harder…
Even conservative positions are less sure, or so it seems.
Everything is too expensive. Bonds, equities, gold, you name it.
(Disclaimer: doesn’t mean things can’t go up more).
+1 to both points. Even vintage cars (assets) have me scratching my head at their values.