The big iron ore miners are rolling today with BHP and RIO down 1% apiece and FMG down 2.5% on the Chinese trade shocker. To the indexes:
The idiocy spreads are once again uniformly bonkers as FMG’s brief flirtation with sanity slackens its jaw, lolls its tongue and drools just a little:
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RIO has entered some fourth dimension of thick-headedness where low IQ is rewarded with fabulas welf. I have no idea how stupid it will get before punching back into out universe, but I still very much believe that that spread will close.