Iron ore futures, idiocy spreads, rebound

Friday, 12 September 2014

Iron ore appears to bottoming with Dalian futures up 5 point today, though rebar futures are still down marginally. Locally, the miners have a weak bounces underway. Here are the updated relative performance charts. For the juniors:

And majors:

With idiocy spreads poised to widen:

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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.