Rising Australian dollar crushes ASX stocks

It started with Wall St but it got much worse after the good jobs report:

Aussie long bonds are at more all time records despite the jobs report:

Yet the Australian dollar rose 20 pips:

Dalian is soft again:

Big Iron is getting a taste of what’s to come:

If anything, Big Gas is worse:

Not even Big Gold can get a bid higher:

The Big Bank rally appears well and truly over and the bear market is intact amid a giant declining channel, as the yield curve is crushed:

Big Realty is sick too, other than the bulletproof REA:

All red today. More to come.

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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.