Big Iron bashed as sell side capitulates

Dalian is holding up today:

But Big Iron is getting hit with FMG at new closing lows as Citi downgrades:

There is a very long and embarrassed list of brokers to follow…

Big Gas is getting a little relief:

Oil has further to fall…

Big Gold is off as DXY rebounds:

Big Credit is up as investors still aren’t sure how to price zero growth, bubble exposed utilities…

Big Liar is up and REA looks keen to run again:

Finally a bonus chart, Big Ticket Item is down as Amazon spooks anew:

The dying Aussie consumer is not fully priced in those top two…

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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.