ASX chases zombie banks higher

David Llewellyn-Smith

Wednesday 18 November 2020

The Aussie dollar is down this morning:

Bonds are bid:

XJO up a bit:

Big Iron is clearly skeptical of the Dalian surge:

Big Gas is stalled:

Big Gold is up at last:

Big Banks to the moon!

Aussie banks are zombies right along with European now. A brief value rotation won’t change it. It’s structural:

Big Tech is draining way:

Give me a house price boom and a part-nationalised, zombie bank to fund it!

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.