It’s something else now. The AUD is in an unruly melt-up:
As the suicidal RBA snores, bonds are selling too:
XJO looks positively sober next to the currency. Not long now before it is crushed by it:
Big Iron is one of the few in a real-life boom:
Big Gas is lagging oil which has moved very fast:
Big Gold is being left behind but if DXY keeps falling it will resume:
We’re long all three given they are the only plays we can find with any substance.
Banks are rising again:
Big Chunt, which has no listings, is priced for a boom:
Outside of specific commodity plays, it’s all fakeflation and, in due course, will bust just as spectacularly.