Big miners break down as futures flat

Thursday, 20 November 2014

The big miners took a pounding this morning as predicted with both BHP and RIO down 2% and at 2014 lows. FMG also sank as much as 5% before rebounding to be down just 1% now. Here are the comparative indexes:

The idiocy spreads are now closing again for the majors:

The junior’s Ebola has no cure:

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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.