Big iron equity stalls as futures power on

Wednesday 6 May 2015

BHP and RIO are both down marginally and FMG is up a few percent as iron ore shares struggle to keep pace with racing futures. To the indexes:

The idiocy spreads are a little wider, though the RIO/BHP “moron cross” has reversed with the rising oil price:

Juniors are unchanged:

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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.