Big Iron is off again today as Dalian opens up a few points. BHP is 0.5%, RIO 1.7% as running in free air, FMG is 0.8% and at new highs:
FMG is fast approaching its 2013/14 China stimulus high. It doesn’t take Einstein to know what’s going to happen to it when this stimulus also runs out.
Big Gas is sagging with WPL -0.8%, OSH -2.1%, ORG -1.1% and STO -1.4%:
Advertisement
Big Gold up firmly with NCM 4.5%, RRL -0.6%, IGO 0.5%, SBM 1% and EVN 3%:
Advertisement
Big Debt is flat:
Big Spruik keeps sinking with shrinkflation. The corrupt FXJ is flat, MEA is at new lows -1.3%, MGR -0.3% and REA -0.7%:
Advertisement
With rate cuts shelved for a while, there is nothing on the horizon to turn it around.