The Australian dollar is still bid this morning:
Bonds too:
XJO has added back some of yesterday’s losses but its symmetrical tringle shows confusion:
Which it should be given it is trading at 18x forward with unemployment miles above the 1990 recession:
Big Iron is firm:
Big Gas tooL
Big Gold has life:
Big Banks are death:
Big Chint is meh:
We’ve gone nowhere for six weeks now. It has either run out of steam or it’s consolidating for a push higher.
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.
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.
Latest posts by David Llewellyn-Smith (see all)
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Macro Afternoon
A somewhat mixed day here in Asia with
Premier whips landlords
Six weeks ago, billionaire Solomon Lew told
Macro Morning
By Chris Becker Last night saw
Macro Afternoon
Selling is the order of the day here in Asia
Listing
Btc psyching up for another tilt at the big 10k….
Indeed. LTC still looks cheap to me but we’ll see.
nek minnit, getting ready to drop to 8k
On life support? Not sure who is doing the CPR though
It needs to be intubated.
That Job Keeper money has gotta go somewhere…
It’s not new money, it just offsets some of the lost wages that otherwise had to go somewhere?
Old money is always better than that noveau stuff…
The number of people using JK to buy shares would be statistically insignificant.
I wonder whether the ABS could do some numberwang to make it look significant, so that SFM could cut back JK pronto?
Anyone else who already owns NCM going to take up their recent Share Purchase Plan offer?
Looks good, especially with where gold and NCM prices are right now.
What do you think?
Yes will be
Yes, I probably will, too – looks way too hard to resist…hopefully gold holds above USD1,730…
Really hard to pick this market. I personally think the ASX will pullback to ~4,800 and the S&P back to 2,400, before consolidating for the next move higher back to 2,800+ in Q3-Q4.
It sure is taking time though, I would have expected the consolidation to kick in about now after Q1 earnings releases. But nope! My shorts are hurting!
DXY still strong.
Will it be too hard for markets to rally into a (assumed) strong and strengthening US dollar?