Dumb money hangs on for miners and banks
The ASX is so far dodging the overnight sell-off as dumb money piles in (I’m not just making that up): BHP is -1.1% (vs -5.3% in NY), RIO -1.6% (vs -4.3% in NY) and FMG -2.3% and looking very toppy indeed as Vale hoses the JV.