It doesn’t pay to be rational, according to Bloomie:
Australian shares may revisit the seven-year low reached last month as oil volatility and worries over the financial impact of the coronavirus dampened a recent rally.
The S&P/ASX 200 index has reclaimed about 17% from the trough on March 23, having faltered last week after entering a technical bull market earlier this month.
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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.
