Australian dollar falls, ASX bids into the depression

See the latest Australian dollar analysis here:

Macro Morning

The Australian dollar is down further this morning:

Bonds are well bid again:

XJO is up a bit more:

Big Iron is hilariously undiscounted for what’s ahead:

Big Gas is better:

Big Gold is crap still:

Big Banks are trying but not getting far:

Big Realty should be at zero because that’s where its revenue is going:

A big yawn for this rally.

David Llewellyn-Smith
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Comments

  1. Dont buy into this rallie, it will fail….2 trillion is so big and yet its bounce in the US has been relatively mild…..2 trillion!…my lord, its huge and where are we…it just put the equitie mkt into a floating stage, why buy anything now….re asses in a few weeks, dont go FOMO….this will fail again…

    • darklydrawlMEMBER

      The only FOMO I have right now is not buying BBOZ and BBUS during these rises (when BBOZ / US do the reverse). I suspect we are only half way down the fall. Hell, the real impact of these shutdowns hasn’t even been felt yet. The next 12 months are likely to be ugly.

      • yes yes Darklydrawl……Singapore GDP just came out, mkt expecting a massive 8.2%….came in down 10.6%!!!!…prior up 0.6%…thats a 20% miss on estimates…!….wtf…sooo just add at least 20% to forecast going forward as they will be soo wrong…then you may get some idea about what is going to happen…

  2. Hydroxychloroquine Azithromycin

    Sorry to burst your bear bubble but I am coming and I am the cure! Bigly! The market can see it why can’t you?! When the trials are finished the Dow will be over 30k! Fortune favours the bold! The BBOZ and BBUS folks will get reamed!

    • Thats good,…there’s always someone who takes the other side….that makes a mkt…..

    • Bless your antiquated little malarial heart.
      This drug is currently in clinical trials and not yet proven. At the current time, early testing shows it only assists with recovery from Covid19, not its prevention.

      Quite frankly at this point Panadol is probably just as effective.

      The real money is going to be in the vaccine.

  3. Point BreakMEMBER

    I just drove past CoronaLink in Richmond. Scenes of despair. If they didn’t have the virus before they queued up, they certainly will after spending 4 hours waiting. We are going Italy style Macronians.

    • darklydrawlMEMBER

      On the pushbike this morning for a ride @ 7AM up Neapan Hwy (Cheltenham) – gotta to try and offset the vino consumption and stay trim whilst lockedown. Centrelink already had a queue of about 40 people (although they were space apart by a 1.5 or so metres per couple / group. Cannot imagine what it looked like at 9 AM. Wow….

  4. DingwallMEMBER

    Who the hell is buying stocks? Funds including Superfunds forced to just keep buying? and obviously those who feel this is the bottom 🤣