What’s driving the commodities bear market rally?

Thursday, 8 October 2015

Commodity producers and emerging markets are going nuts. In London last night RIO launched 7.5%, BHP 2%, Vale 5%, Anglo 10% and GLEN has risen over 80% from its low:

From the AFR:

Shares in Rio Tinto jumped 7.5 per cent in London overnight after Morgan Stanley upgraded European miners to “overweight”. BHP Billiton rose 4.6 per cent.

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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.