Autralian dollar sags as bullhawks shot down

David Llewellyn-Smith

Wednesday 8 May 2024

DXY eased overnight:

AUD sagged

North Asia did not help:

Oil and gold are cooked for now:

Wall Street loves a metals squeeze:

EM wants ups:

But junk is unsure:

Yield fell:

Stocks froze:

And maybe that’s why the so called “no landing” is only a slightly delayed “hard landing”:

These markets eat investors for breakfast.

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.