Iron ore howls as China squibs more stimmies

China fanboy Bloomberg ran a live blog for the NDRC presser this morning.

This unprecedented move nicely captures the froth that has taken hold of the formerly credible markets reporter.

However, in despair it has announced:

Q&A session begins after Zheng’s opening remarks came to a close without unleashing aggressive stimulus.

Or any more stimulus, for that matter.

The Hang Seng is down 6%. Iron ore is down too after opening near the moon:

There virtually nothing in this stimulus round for commodities so far. The NDRC is the infrastructure planner so this is a big disappointment for iron ore bulls.

More meetings are ahead for the Poliburo and Economic Committee so hope may live a littler longer.

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.