ASX smashed

Not much fun for Aussie assets today. The Australian dollar has come off a little from its Lunatic RBA spike:

Bonds too:

XJO is getting creamed, down another 1.7% after 2% yesterday:

And sporting a potential major double top pattern:

Dalian has a mind of its own as Vale worries:

Big Iron ore is thumped anyway:

Big gas too:

Big gold isn’t proving much of a hedge right now:

Big banks are puking lower. The CBA premium looks absurd:

Big realty is a bust as well, though MEA has spiked on the vague notion that it might make money:

It’s the trade non-deal jeopardy, weak growth and Lunatic RBA jamming closed release valves on bonds and currency.

David Llewellyn-Smith
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