ASX bath of blood drowns banks

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The Australian dollar is struggling this morning:

Bonds the usual flatline:

XJO is soft”

Big Iron is up:

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Big Gas not:

Big Gold is:

Big Banks have been sucked back into the bath of blood:

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WBC technicals tell the tale. Supports all broken:

Property crash!

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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.