ASX bath of blood overflows

David Llewellyn-Smith

Thursday 12 March 2020

The Aussie dollar is still under pressure this morning:

Bonds are still selling. There are some rumours of a risk parity blow-up:

XJO is fast approaching the last risk parity blow-up bottom in 2018. I have no confidence that it will hold:

Big Iron has forgotten it is a safe haven:

Big Gas is being destroyed:

Big Gold meh:

Big Banks are disappearing at a phenomenal rate:

Big Realty is living in fantasy land:

The bath of blood is flowing over but not yet running in the streets.

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.