Big iron melts with futures

Friday, 24 July 2015

BHP and RIO are both down the better part of 1% today and edging closer to post-GFC breakdowns to boot. FMG is up 2% for no apparent reason, perhaps some bottom fishing for more Chinese stimulus.

Idiocy spreads on the majors are threatening to shut in a leap:

Juniors 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.