ASX bath of blood

The AUD has softened a bit this morning:

Bonds are still deludedas the curve mysteriously steepens:

XJO is plastered. It has a long way to fall before uptrend support:

Iron ore bashed:

Big Iron bashed. FMG has broken its head and shoulders top:

Big Gas in free fall:

Big Gold is going from disappointing to disastrous:

Though not so much as the Big Banks. WBC is at new two year lows:

Bye, bye Big Realty:

Blood everywhere and all we have doine is blow a few months froth off the top. Discounting COVID-19 is next.

David Llewellyn-Smith is Chief Strategist at the MB Fund which is very conservatively positioned for coronavirus risks.

Share

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.