DXY is holding but looks vulnerable to more pullback.

AUD the opposite.

CNY pumped and dumped on tariff talk.

Oil is offering hope to risk.

All commods were whacked on Trump’s 10% China tariff threat.

Big miners too.

EM stocks are caput.

Junk is still stuck.

Yields are sticky.

Stocks heading for new ATH.

Goldman makes an interesting point about the AUD collapse today.

The A$ has fallen 10% from its highs in September.

A peak to trough drawdown of this magnitude is not unusual (this isthe 12th >10% move over the past 25 years), but the current episode is an outlier for a few reasons.

Firstly, it is only the