The Australian dollar is still soft this morning:
Bonds are bid out the wazoo:
Sometimes the Australian stupidity premium can make a few dollars. XJO today is an example. After yesterday’s end of quarter sell down has the crack-juiced trader-children back in the saddle:
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In truth, XJO is down 28% versus SPX at down 23% so there is some wriggle room for the stupidity discount to narrow.
Big Iron is leading, to where nobody knows:
But that pales next Big Gas, the single most fucked sector on then planet, which is bid into thin air:
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Big Disappointment looks more likely to break down than out:
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Big Bankss are down:
Big Realty is still far too high:
Because nothing says buy like zero revenue.
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