Australian Shares

AUD is down during the morning: Aussie yields are too as bonds back away from a crazy break out: XJO is off modestly: The Dalian bear market rally is still firmish: Big Iron is off a bit.

AUD sold after weak jobs but is up again on the wild-eyed bid for Chinese stimulus: Bonds are bid back below their lunatic breakout: XJO is up modestly: Dalian is screaming higher: Big Iron too: Nothing changed for me.

The AUD is down: Bond yields are still flirting with a crazy breakout: XJO is up a bit: Dalian has misread slowing China data: As has Big Iron: Today’s tearaway is Big Gold which is either signalling more USD or AUD falls or both.

AUD is stable during the day: Bonds are selling: As is XJO: Dalian has lost its overnight pop: But Big Iron is up on CLSA upgrades staring squarely into the rear vision mirror.

The Australian dollar is off its highs after the China PPI turd: Bonds are bid: XJO can find no joy: Dalian faded after the turd: Big Iron is unfazed.

Credit Suisse’s Hasan Tevfik has the note: A few more charts: Winners and losers: Hmm, not bad.

Just in case you thought Aussie stocks would rise today.

Damien Boey at Credit Suisse has taken his bear pill today: Investor concerns about trade tensions are soothed by Kudlow Overnight, investors were initially very concerned about trade retaliation measures announced by Chinese officials.

Via BT’s excellent Vimal Gor today: There are two attitudes you can take to the February 2018 “flash crash”.

According to the stock market, Australian banks are not well.

The Aussie dollar is up a bit today after OK retail sales in March: Bonds are getting sold and, amusingly, the short end is even threatening to break out.

Asian stocks continue to buck around on higher volatility with most bourses putting on small gains, while the ASX fell to its lowest level in months.

The AUD is at new lows during the day: Bonds are bid: XJO is plumbing new lows: Dalian is flat: But Big Iron is copping it.

By Chris Becker The poor showing in Asia did not translate into further falls in Europe, but the slump in Tesla stock and other techs pulled Wall Street down last night, slightly moving the risk edifice into correction territory.

Asian shares reliably reacted negatively to the late overnight activity after the new Trump threats to  China trade with a big impact on tech stocks.

The Australian dollar is still hanging on at the lows of recent correction: But bond yields are bid big: And XJO is also back to the lows: As Dalian tumbles again: Big iron is under pressure.

Three pieces of research today address the question.

By Chris Becker Trust the Trump White House to screw the pooch on this attempted recovery, with news that a potential crackdown on Chinese electronic goods sending the NASDAQ tumbling 3%, taking down industrial stocks with it.

The last few weeks have confirmed our view that most of the cash from Trump tax cuts will end up as dividends or buybacks.

The solid rebound on Wall Street last night translated into similar gains here in Asia, although a late selloff in China pared gains on the mainland.