China's Stimulus Fuels Iron Ore Surge

Iron ore and Chinese property stocks surged after three of the country's largest metro areas loosened homebuyer rules. This move follows last week's central government stimulus package, which was aimed at stabilizing the vicious downturn in the housing market. Bloomberg reports that Shanghai, Guangzhou, and Shenzhen eased homebuying rules:  On Sunday, the trading hub of Guangzhou became the first tier-1 city to remove all restrictions, saying it will stop reviewing homebuyer eligibility and no longer limit the number of homes owned. Both Shanghai…