Here are the iron ore price charts for Friday April 10: Spot corrected as expected but paper is looking a little firmer with the 12 month holding up despite new lows for Dalian. The latter is up 4 points from Friday this morning. The rebar reversion marches on. Texture from London Scrap: Despite a sharp
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Cross-posted from Investing in Chinese Stocks. Social mood is rising into extreme territory. Investors arbitraging between overpriced Mainland A-shares and fairly priced Hong Kong H-shares are one source of buying, but the main fuel for the latest rally is investors’ belief that they cannot lose——because the Chinese government itself will invest more money into equities.
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Global Macro / Markets / Investing: You’ve Never Heard of the Bull Market’s Best Stock Pickers – Bloomberg Stop using indicators to keep you out of the market – Dragonfly Capital A historical look at deflation – VOX Druckenmiller Recounting Soros Experiences Blasts Fed Policies – Bloomberg What really causes economic downturns? – weforum.org This
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Here’s some Sunday comedy courtesy of MB’s own Chris Becker. Enjoy!
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Sorry for the lack of W/E links, my youngest yard ape turned 8 yesterday so it was a bit of a crazy day. Global Macro / Markets / Investing: US warns of ‘increasingly unbalanced’ global economy – FT U.S. Growth Seen Slower Amid Dollar Headwinds WSJ Factories Be Warned: U.S. Wholesalers Face an Inventory Glut
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Stan Shamu for Chris Weston, Chief Market Strategist at IG Markets Equities rally into weekend Asia is rallying into the weekend with China continuing to lead the region. While the Hang Seng has cooled off from the big gains we had gotten accustomed to, the Shanghai Composite has picked up from where it left off
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Missed this yesterday but it is important, from the ABC: Three major French investment banks – BNP Paribas, Credit Agricole and Societe General – have sent letters to a French environment group ruling out funding the development. “These three banks play a very significant role in financing the fossil fuel industry in Australia, particularly coal
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The AFR is reporting that: A Rio Tinto executive is working with Treasury to determine Australia’s response to international profit shifting at the same time the mining giant is in dispute with the Tax Office over its aggressive tax planning in Singapore. Michael Potajko, a senior executive in Rio Tinto’s tax arm, has been working
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Big iron is stable today with BHP down 0.5% though under $30 again and is RIO flat. FMG is flirting with new lows down 3% and just above $1.80. To the indexes: The big iron idiocy spreads have launched wider again: And even juniors are up today for no apparent reason: Meanwhile,
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By Leith van Onselen The Australian Bureau of Statistics (ABS) has released housing finance data for the month of February, which registered a 1.2% seasonally-adjusted fall in the number of owner-occupied finance commitments over the month: The result disappointed analysts’ expectations, who had expected a 2.0% rise in owner-occupied finance commitments in February. The number
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