DXY eased last night:
AUD is wearing lead boots:
Even as North Asia popped:
Oil is becoming a problem as it chases overheated stocks:
Dirt popped on more China easing:
And miners:
EM indexes are stuffed:
But under the bonnet India rising, China falling:
Junk spreads have departed the rally. Major warning sign here:
As yields blast higher with oil:
And stocks only go up:
It was PMI night, and the US was strong as the wealth effect kicked along services consumption:
While the European downturn is slowing:
Once again, stocks are going to over-egg this party until oil drives yields higher and the whole punch bowl is upended.
AUD will struggle in this environment as DXY predominates.