Fortescue breaks to new post-GFC low

Wednesday, 13 January 2016

I noted yesterday that FMG was at the brink and today it is over it trading at a new post-GFC low of $1.54:

Next stop the GFC low at $1.13 and thence on to oblivion.

Oddly, its bonds are not as distressed as equity today. Perhaps they’ve fallen enough for now at 60 cents in the dollar for 2022:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

Cancel at any time through our billing provider, Stripe