Big iron ore and gas are in free fall again with Trevor Sykes’s credibility. BHP is at new post-GFC lows down -1% in the mid-$14s, RIO is down -2% in the $38s and FMG has been pounded -4% to $1.50:
It would be much worse for all were it not for this, ahem, punt by Citi:
We switch to preferring BHP over Rio given our bearish iron ore view and 20 per cent underperformance over the last 6 months.