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Big iron is off to the races today with BHP and RIO both up over 1% and FMG up 9% having been as high as 14%. Rumours of Chinese stimulus and investment in FMG, as well as a rebounding spot price are today’s bullish drivers. To the indexes:
The idiocy spreads have stalled:
The juniors are up a little too:
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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.