Big iron is up and running today with BHP up 1.5% and RIO up 0.5%. Perhaps it’s crashing Chinese house prices, crashing iron ore prices, crashing iron ore futures, a crashing oil price, a resilient dollar, the impending greater reliance on fewer screwed commodities at BHP, or the troubles engulfing FMG, whatever it is it is obviously very sensible. FMG is itself down 8% at this point.
To the index:
The idiocy spreads are still closing despite today’s lunacy:
