Nolan is looking at the FMG price through the lens of just the IO price alone. he needs to understand the IO price is priced in USD and therefore has an inverse relationship to the USD, which means the longer the FED keeps the printing press going, then the longer commodities stay elevated. suggest the biggest clue is to watch the bond market or the 10 yr yield for clues. cut out all the noise of China's demand vs supply cause that comes and goes. this is a currency war so focus on the USD.
the USD imo will be artificially kept low until you have more inflation which is what prompts the fed to raise interest rates and cause usd denominated prices like IO to fall. now we can have a separate debate on what you index today as inflation cause we know that's rigged but let's stick to what the cronies use cause that's their yardstick for monetary policy adjustments
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Last
$25.66 |
Change
0.090(0.35%) |
Mkt cap ! $79.00B |
Open | High | Low | Value | Volume |
$25.72 | $25.86 | $25.63 | $77.37M | 3.012M |
Buyers (Bids)
No. | Vol. | Price($) |
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3 | 11417 | $25.65 |
Sellers (Offers)
Price($) | Vol. | No. |
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$25.70 | 2000 | 1 |
View Market Depth
No. | Vol. | Price($) |
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3 | 2020 | 25.630 |
6 | 4759 | 25.600 |
1 | 585 | 25.580 |
4 | 1222 | 25.570 |
1 | 776 | 25.530 |
Price($) | Vol. | No. |
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25.700 | 2000 | 1 |
25.790 | 500 | 1 |
25.800 | 14508 | 2 |
25.820 | 5500 | 2 |
25.830 | 61000 | 2 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$25.72 |
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Change
0.090 ( 0.55 %) |
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Open | High | Low | Volume | ||
$25.72 | $25.86 | $25.64 | 785342 | ||
Last updated 15.59pm 03/05/2024 ? |
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