RVR February, page-66

3 out of 3

AUD down to .777 stockpiles fell another 1600t and Zn rallies back to $3416 = $4400 in AUD terms.
However this market closed b4 the DOW spat the dummy over yields and higher bond rates again.

The best way I can describe is, the interest rates are rising and the debt issuers want a higher return on their debts/bonds. Global economy is going well, so the money lenders want some of that action and want to lift rates. Lifting rates scares the market as its a fundamental shift in the cycle , although foreseen for some time. History shows a strong USD will lead to the AUD slipping sub .75c hence me wanting RVR to hedge the USD/AUD at .82c