Big iron stalls with futures

Monday, 11 May 2015

Big iron is trying but failing to get very far today on the Chinese rate cut. BHP is up 1.5%, RIO a bit and FMG 3.6% but all three are only at levels seen on Friday. To the indexes:

The idiocy spreads are closing a little:

Juniors are still dead and dying:

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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.