DXY is still holding onto its weekly gains from hawkish Fed speakers. It is now waiting for confirmation from the BLS tonight to follow through. EUR is the mirror:
The Australian Dollar is trying to hold 74 cents. It’s up to US jobs whether or not it does in the short term. Iron ore is not an issue while coal flies as an offset:
Brent Oil Futures and Gold struggled:
Base metals were roughly stable:
Big miners copped it:
EM stocks are hanging on for dear life:
EM junk is slowly bleeding lower:
The Us curve bear flattened again:
Stocks were led by FAAMGS:
Today the miners are getting hosed:
But, frustratingly for me, banks are counter-bid even though the yield curve is getting mown down. Banks can become yield plays for Australia’s Mums and Dads at such times. At least CBA is, the only bank with any proprietary BNPL exposure:
How is it that Twitter taking on banks with AFP is good for the bank bid? It’s the end of credit cards.
As well, I know they’ve got good writebacks coming but with half the economy open and shut for the next three months, don’t we think that they may need to keep some of those provisions?