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