Banks yield to the Pilbara

FALLOUT from the coronavirus means the major banks are being replaced as the high-yield stocks of the ASX by the major miners, or more ore specifically, the major iron ore producers – Rio Tinto, BHP and Fortescue, writes Barry FitzGerald.

Banks yield to the Pilbara Banks yield to the Pilbara Banks yield to the Pilbara Banks yield to the Pilbara Banks yield to the Pilbara

Iron ore stockpiles at Rio Tinto's Cape Lambert port

How long the new order in the S&P 20 lasts depends on the scale of bad debt levels at the banks flowing from the economic upheaval caused by Australia's lockdown, and the ability of iron ore to

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