Big iron dead cat bounces

David Llewellyn-Smith

Thursday 13 August 2015

Big iron is rebounding today as China devaluation becomes passe. BHP and FMG are up 2.5% and RIO is up 1.7%:

Idiocy spreads have flattened out but the majors are close to a narrowing trend:

Juniors are doin’ nuthin:

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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.