China reopens, Dalian limit down

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China is open again today and Dalian has returned limit down -6%. At issue may be the PBOC tightening repos across the curve:

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Big Iron is likewise with BHP -1.9%, RIO -2.3%, FMG -4% and WHC -0.8%

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Big Gas is also weak despite solid:

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Big Gold is still enjoying its big bear market rally with RRL 2.1%, NCM 1%, IGO 4%, SBM 0.6% and EVN 1.4%:

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Big Debt has lost some of the shine of its recent rally as the global yield curve has flattened. It may need more steepening if it is resume. All are flat today:

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Finally, the Big Spruik is mixed as the Sullied McGrath brand plumbs wonderful new depths but the nauseating FXJ is enjoying a speculative rally on possible corporate action. Other appears shrinkflated:

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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.