Big iron idiocy spreads explode

Friday, 10 April 2015

Big iron is stable today with BHP down 0.5% though under $30 again and is RIO flat. FMG is flirting with new lows down 3% and just above $1.80. To the indexes:

The big iron idiocy spreads have launched wider again:

And even juniors are up today for no apparent reason:

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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.