BTFD, again, and again

David Llewellyn-Smith

Thursday 3 July 2025

The Market Ear with the charts.

Buy the dip

BTD has been very strong in 2025. As we have been outlining for weeks, this still has a lot of 2020 flavor to it.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.