Ann: Quarterly Activities Report, page-127

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ElNuto

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138

10/02/23

20:59

Post #: 66189105
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Originally posted by wiseoldowl83: ↑

The iron ore price is still down from its peak of $128 per tonne. It was down to $118 and back to $124 and now heading down to $122 again.

The US CPI data is out next week. I strong US CPI and the IOP should go back towards $80 per tonne.

If there is a recession or another GFC which the 2y and 10y bond inverse have predicted every recession for the last 60 years and is predicting then the iron ore price will head back towards $60 per tonne. The inverse bond yield has predicted 100% of every recession without any mistakes. Maybe watch a youtube video on what it is and then tell me we are not going to have a recession this year.

The US Fed announced this week the original prediction was 5% interest rate then they would reduce as inflation came down, and since the US employment data they are now predicting a 6% interest rate at the reserve bank which would be end users are paying a lot more than that.

When rates are 7-8% at the bank they high and this is when things start to fall over hard and cause the recession. If you are not aware the last time the interest rates were this high was the GFC. Too many idiots borrow to much and markets can collapse.

Things look very grim with such high borrowing costs and I can assure you we are not heading into a bull market any time soon no matter how much I honestly wish we were also. We all need to wake up and smell the roses as there is going to be a lot of bankruptcies happening all over the place such as Adani, Evergrande, there was a big BNPL here in Australia this week, builders like Clough.

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$60 ain't gonna happen. You must be really regretting selling your shares at the low.

FEX Price at posting: 26.5¢ Sentiment: Hold Disclosure: Held
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Ann: Quarterly Activities Report, page-127

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