Big iron wallows as big gas catches dead cat
Advertisement
BHP has managed a weak bounce today up 0.5%, RIO is up 1% and FMG flat:
Dalian is unchanged and we’ll see iron ore take another sharp fall tomorrow if it stays that way. Meanwhile, big gas is on a tear withe the strategically shot WPL is missing out down -0.4%, its ever so lucky quarry OSH galloping away up 1%, STO is up 2.4%, ORG 5% and LNG 2% on dead cat bounces:
Advertisement
If anything the outlook for oil is more bearish today after no Paris bounce.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.