Advertisement
The dead cat bounce is dying in big iron with BHP down -2.8%, RIO down -1% and FMG down -3.6%:
Big gas is also on the nose with WPL down -1%, OSH -9%, ORG -2.6% and LNG -2.8%. STO is mysteriously up a bit:
Advertisement
With gold breaking out, the US dollar fading, banks struggling and S&P500 futures down 13 points already it’s a pretty somber mood.
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.