Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

ASX breaks

David Llewellyn-Smith

Tuesday 30 May 2017

Right on cue, the ASX has sunk to new lows below 5700 in its building correction:

Big Iron is up:

Big Gas down:

Big Gold firm:

Big Debt is still sinking:

And Big Liar:

We await China re-opening tomorrow. All that matters now is how fast iron ore sinks through the year. That will pace the ASX decline.

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.