COVID-19 financial crisis begins

David Llewellyn-Smith

Monday 9 March 2020

The Australian dollar is down sharply today but nowhere near enough thanks to the RBA stupidity premium:

Bonds are thunderbid:

The ASX bath of blood is sloshing over:

Big Iron is pulverised:

For those that remember the lies and barstardry of Big Gas, today is a good day:

Big Gold is showing a bit of promise:

Big Banks look like they’re headed into the GFC on fast forward:

Big Realty has priced nothing yet:

The COVID-19 financial crisis has begun.

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.