Miners hammered as recovery dream hits wall

Thursday 14 May 2015

Big miners are getting hammered today as dreams of a bottom and recovery collapse. BHP and RIO are down 2% each and FMG is down 7%. Let’s face it, the pressures are intense: rising dollar, dreadful China construction data, and selling on the fact of QE. To the indexes:

Idiocy spreads are now closing faster:

Juniors are rolling:

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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.