Australian dollar set for scorching as bonds fuel rocket

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The Australian dollar has crawled out of the mire for a bit:

But bond yields are right at record low yields and with the RBA getting the shove the AUD may be headed into another scorching:

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XJO hasn’t yet completed ts double top but it awfully ominous:

Iron ore is beginning to break down as Chinese activity rises from the pit. Local mines re-opening?

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Big Iron is down. That head and shoulders FMG set up makes me giggle hysterically:

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Big Gas is buring again. Good:

Big Gold is a useless swamp thing:

Big Banks do not look well. If credit markets stay frozen…

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Big Realty entering the vortex:

The the whole pretty satisfying as the leading edge of sanity retruns.

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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.