ASX bath of blood returns!

No 5% for the ASX today to follow Wall St! Though we did get 3% yesterday, rapidly unwinding:

Bonds are bid again. This yield unwind is so tempting:

AUD is mashed:

But Big Iron is trading as a safe haven (lol):

Big Gas has unfortunately bounced but I am confident greater pain lies ahead:

Gold sucks:

Big Banks…oh dear:

CBA has fallen to just 15x forward now without anybody discouting future earnings:. Yeh, it was a bubble:

Bonus chart! WBC CDS eased yesterday with VIX. Not so lucky today the rate we’re trading:

Big Realty is batshit crazy. It’s about to enjoy six months of no listings and zero transactions. Buy while you still can!

Shhh…don’t talk down the market.

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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.