ASX bubble bulges

AUD is still warm this morning:

Bonds are bid:

XJO is red hot:

Admire the great ASX bubble of 2020:

Big Iron to the moon:

But positively cheap versus some:

Big Gas to the moon:

Big Gold can’t get a bid amid the largest monetary fire hose in history:

Banks to the moon as all risk is forgotten:

Behold their bubble trading on an unprecedented 18x now:

Big Chunt is positively boring by comparison:

So long as there is no data or regulatory accountability, fantasyflation can run to infinity and beyond.

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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.