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A subdued today for big iron with BHP down -1.4%, RIO 0.95% and FMG -1%. Dalian is up one point from overnight but is still well short of spot anyway:
LNG is doing better with firm oil as WPL rises 0.4%, OSH 2.4, ORG 1.4%, STO 2% and LNG 2.5%:
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Banks are flat as await the latest lunatic move by a central bank with CBA and WBC flat, NAB up0.5%, ANZ 0.75%, BOQ -2.2%, SUN flat and BEN -0.8%
We await Super Mario and his bazooka (or not).
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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.