See the latest Australian dollar analysis here:
Hoocoodanode? The Australian dollar is trading right at the breakdown line:
Bonds are bid:
XJO is absurdly high for the virus context:
Big Iron is beginning to come apart. I’ll take that FMG blowoff day a few weeks ago straight to the pool room:
Big Gas free fall:
Big Gold is bizarrely unpopulsr:
Folks prefer Big Banks, especially CBA:
And Big Realty:
A bad idea if there was ever one.
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.
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.
Latest posts by David Llewellyn-Smith (see all)
- UQ freaks again over Pavlou resurgence - September 23, 2020
- The gift that keeps on giving. COVID and Parkinson’s disease - September 23, 2020
- RaboBank: Australian dollar headed to 68 cents on China decoupling - September 23, 2020
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Macro Morning
Risk sentiment bounced back overnight
They prefer BTC going by the incredibly bullish charts and price action.
Chinese moving money out, me suspects.
Hyundai car factory in Korea closes because of supply chain problems from China. So the virus impact is taking it’s first large victims outside of China and it’s a good bet that other car manufacturers in Korea and Japan will be close behind. https://www.straitstimes.com/business/economy/coronavirus-claims-worlds-biggest-capacity-car-plant
I was thinking that factories in China today will see the full extent of who hasn’t been able to come back to work and already calculating the impacts on supplying products and services. This will in turn alert companies over seas and we might see a rash of companies disclosing supply issues over this next week or two.
Filipino staff at our big tier one contract manufacturer in Shenzen not allowed to go back to China after the holiday. Don’t know who to talk to.
My big gold (NST) is doing very nicely. Thank you very much.
Same. I bought in at $9 in nov and am very happy. I also bought RRL at $4.20 and Saracen at $3.08. RRL has underperformed since they missed out on super pit… the other two, rockets.
And we ain’t seen nuthin yet!!