ASX and iron ore tremble

David Llewellyn-Smith

Friday 30 July 2021

The Australian dollar is backing away from its charge 74 cents this morning:

Bonds are bidly:

XJO ripped out of the gate but has gotten the shakes since:

Part of the problem is sagging US futures thanks to lousy Amazon guidance but there is also this:

Big Iron is doing its best to ignore it:

Banks are also doing their best to ignore the army being deployed in Sydney:

It is my that both miners and banks will find that sticking your head in the sand is not an investment strategy in due course.

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.