re: why asx is down today
Jitters that the US markets and the $USD are about to tank.
" The market was also hurt by the poor response for the $15 billion five-year note auction, which produced a low bid-to-cover ratio of 1.86 while offshore buyers including central banks took only 28 per cent or $4.2 billion of the total. The notes sold at a high yield of 4.046 per cent while the cover ratio was below the 2.59 average obtained for the previous 10 auctions of the same maturity. The paucity of foreign bidders should be a warning signal about the strength of the US dollar and the worry that a good auction response is needed to make up the shortfall in the trade deficit. Locals took up $10.63 billion of the issue. Another big fall in the oil price failed to lift market confidence."
A note currently on my toilet paper dispenser :" US Dollars - please use freely".
