ASX bath of blood runneth over again

David Llewellyn-Smith

Wednesday 30 September 2020

The Aussie dollar continues to bet on Trump this morning:

Bonds are selling a little:

Stocks are down solidly:

As Big Iron sags towards new lows:

Big Gas too as oil is in all sorts with Libya returning:

Big Gold is still consolidating:

Big Banks are fast fading their criminal lending bounce and do not look well:

The BNPL bubble has become incredibly correlated and also looks ready to pop:

If we get a decent drawdown then I’ll be buying iron ore and gold.

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.