“Sell the rips”

Monday, 23 May 2022

Michael Hartnett at BofA, conductor of the bust. The jury is still out on the structural story for me but the cyclical is spot on. I still say the Fed does not pivot before oil takes down the commodity complex. That may mean the outperforming ASX has a greater downside risk than other bourses…

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Heard on the Street: “3600 is the new bull case”.

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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.