The Australian dollar’s RBA stupdity premium is alive and well this morning:
Bonds are heavily bid anyway knowing that the stupidity is on a short fuse:
XJO is at new closing lows:
Big Iron is down with BHP most heavily hit:
Big Gas is flared again. I personally think that this sector is going to burn to the ground:
Big Gold is maybe showing life at last. I still think if the financial panic rises it may get liquidated:
Big Banks are put to thw sword as another RBA cut anmd QE looms. This is slow death to margins. CBA is apparently made of teflon. But the the others show no support down to European crisis lows. GFC lows are in the frame for me as a combined funding and property demand shock looms:
Big Realty will be fine, of course, lol:
We’re still only warming up.
