Big iron mounts the dead cat once more

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Big iron is riding the dead cat higher again today though the paralytic moggy is not looking very rubbery. BHP is up a measly 1.6% while RIO is up 2.6% and FMG leads the way at a more respectably elastic 6% gain:

Capture

The idiocy spreads continue to close though are slowing:

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The 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.