FMG in the green!

Monday, 2 June 2014

Try as I might I just can’t seem to get the message through to the equity market. FMG is now up for the day:

No doubt it’s riding the better China PMI, even though that reduces the chances of fixed asset investment stimulus. Port Hedland shipments for May will be out any day too and will show big volume growth. Maybe the weaker dollar is helping too.

I guess that’s enough for the short-term oriented.

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.