ASX value Icarus soars towards Sun

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The Australian dollar is still flopping around this morning:

Long-end bashed:

XJO to the moon:

Big Iron still firm:

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Big Gas is running as oil jumps with value:

Big Gold is still getting hosed. Not helped by a virus case at Lihir:

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Big Banks are the Icarus of value:

Big Tech is going to go bust if this continues:

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But will it? Yes, later next year. But between then and now there is a wildly out of control virus in the US that is going to demolish two-quarters of earnings without appropriate fiscal support.

And the Treasury curve is steepening? Good luck with that!

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.