Big iron slides again

Tuesday, 19 May 2015

Big iron is on the nose again today with more solid falls for the majors, BHP and RIO both down more than 1% and FMG off 3%. To the index:

The idiocy spreads are all galloping in now:

Juniors are doing better, presumably on cartel hope:

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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.