Has the ASX drained the bath of blood?

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Markets are confused by the Aussie jobs report with larger than expected job losses, and dire underemployment, but a tiny rise in unemployment. So the AUD has slid a little:

Bonds are bid:

XJO is down modestly again despite weak overnight leads:

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Big Iron is the story of one firm now:

Big Gas is off:

Big Gold is revving again:

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I’ll say it again, Big Banks are not well:

But downstream, Big Chunt trades off the Nasdaq. Which only goes to prove how short of tech Australia is:

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And no, I do not think that the ASX bath of blood is drained.

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.