ASX bath of blood drags down banks

David Llewellyn-Smith

Thursday 10 September 2020

The Australian dollar is soft this morning:

The bond curve wants to steepen but can’t:

Stocks are up a little but vulnerable:

Big Iron is leading:

Big Gas is still stinky:

Big Gold has a bid at last:

Big Banks do not and the trend is not its friend:

If the correction is over then it’s not obvious here.

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.