Iron ore shares reach for imbecility

Tuesday, 10 February 2015

A firmer Australian dollar, a rising oil price, a tumbling iron ore price are all irrelevant to iron ore mining earnings today with BHP up a little, RIO up a bit more and FMG flat. To the indexes:

All idiocy spreads are powering into imbecility again today:

Reassuringly for the cortex-endowed, juniors remain dead:

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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.