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The big resources bear market rally is off and running with BHP up 4.2%, RIO up 3.2% and FMG up 3.5%:
This is pretty mild stuff for a short squeeze suggesting either that it has not gotten going yet or it isn’t going to.
Big gas is more impressive with WPL up 2.5%, OSH up 4%, ORG up 7%, STO up 2.7% and LNG up 9.5%:
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Enjoy it while it lasts!
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.