Australian dollar, bond yields sink as rate cuts locked in

David Llewellyn-Smith

Thursday 19 September 2019

The Australian dollar has resumed its great sink today as bank and market observers pile in for rate cuts:

Bonds are on fire:

Stocks too:

Dalian is weak:

But nobody cares as Big Iron reaches for the skies. FMG hilarity!

And Big Gas for that matter:

Big Gold is forgotten though at least its AUD hedge is back:

Big Banks love it:

REA is only realty stock in Australia:

The profitless boom booms on!

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.