ASX bath of blood overflows again as FAANG breaks

David Llewellyn-Smith

Friday 1 May 2020

The Aussie dollar is selling strongly this morning:

Bonds are basically glued to the spot:

XJO is smashed 3% and more:

Big Iron is down:

Big Oil too:

Big Gold is pounded:

Big Banks have gone nowhere in this rally:

Big Chunt thinks it’s all good as usual:

The bullish hysteria has been upset by Amazon missing and Apple pulling guidance.

Yesterday that would have doubled their prices!

Beware the volatility.

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.