Fortescue crashes to post-GFC low

David Llewellyn-Smith

Wednesday, 11 March 2015

The great corporate struggle of our time is having a bad day:

That’s a new post-GFC intra-day low. As equity evaporates, debt follows along as the 2022 bond sells:

But 2019 continues to hold up on expectations of a ponzi-payment:

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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.