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Chinese markets are in recovery mode again today with Dalian and rebar futures up 4 and 8 points each. Not tearaway but still up. Locally, miners are struggling to add to gains given the size of yesterdays bounce. In junior land, it’s more of the same really, with ARI carnage the theme of the day:
For majors, FMG is up 2.5% and trying to hold $4:
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And the idiocy spreads are getting wider once more:
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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.
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