See the latest Australian dollar analysis here:
All those long only equities managers calling buy the dip are being minced again today. The Australian dollar is down hard again:
Bonds are bid bigly:
XJO’s bath of blood is hosing everything, gapping down 8%:
And the damage is still not priced.
Big Iron is down:
Big Oil too:
And Big Gold:
Big Banks are slaughtered:
CDS was at 109bps Friday, worse today no doubt:
Big Realty has far, far yet to fall:
More pain ahead.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super which is very conservatively positioned for coronavirus risks including a falling Australian dollar, so far falling just 0.7% through mid-March versus -32% for the ASX200:
If you’re interested in the fund, contact us below.