Australian banks Australian LNG Australian Shares Commodities Iron ore price

Buy the iron ore rumour, sell the fact

Tuesday, 8 March 2016

Big iron ore is retracing today after the past few days of wild action as BHP falls -0.7%, RIO -1.8% and FMG -11.2% after all hammered higher at the open:

Dalian is still limit up at 423 just trying to catch up to spot. I would not be surprised to see a big fall in iron ore tonight.

Big gas is mixed with WPL up 1.9%, OSH 2.1%, STO0.9%, ORF -0.2% and LNG -2.4%:

Banks are all down with CBA -1.2%, WBC -0.5%, NAB -0.7%, ANZ -0.5%, BOQ -0.4%, SUN 0.5% and BEN -0.5%:

Crazy days.

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.