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Garbage-In, Garbage-Out – Uncertainty Goes Viral As Baltic Dry Crashes Near All-Time Low
Garbage-In, Garbage-Out – Uncertainty Goes Viral As Baltic Dry Crashes Near All-Time Low Uncertainty Let’s revisit the chart from Friday’s T-Report where we examine stocks, bonds, and oil. Oil Didn’t Buy into the Bounce At the start of the week, stocks retraced all of their coronavirus losses, but treasuries only retraced a portion and commodities […]
What a Relief that the U.S. and Global Economies Are Booming
What a Relief that the U.S. and Global Economies Are Booming Doing more of what’s failed for ten years will finally fail spectacularly..It was a huge relief to see the charts of the Baltic Dry Index (BDI) and the U.S. retail sector ETF (RTH): both have soared to the moon, signaling that both the U.S. […]
Why S&P Bulls Should Worry As The Baltic Dry Collapse Nears Worst On Record
Why S&P Bulls Should Worry As The Baltic Dry Collapse Nears Worst On Record As we noted recently, despite global stock markets soaring, global freight indices have been more-than-seasonally weak so far in 2019 with the Baltic Dry Index in particular crashing. The Baltic Dry Index represents the cost of renting an ocean-going container ship […]
Global Economy Flashes Red As China Shipping Rates Collapse
Global Economy Flashes Red As China Shipping Rates Collapse A dramatic and sudden slowdown in the rate at which numerous commodities are being shipped to China suggests slowing demand for raw materials in the world’s second-largest economy, and signals a wider economic slowdown globally looms. “Recent shipping data has turned negative with charter rates across […]
Global Supply Chains Paralyzed After World’s 7th Largest Container Shipper Files Bankruptcy, Assets Frozen
Global Supply Chains Paralyzed After World’s 7th Largest Container Shipper Files Bankruptcy, Assets Frozen After years of relentless decline in the Baltic Dry index… … today the largest casualty finally emerged on Wednesday when South Korea’s Hanjin Shipping, the country’s largest shipping firm and the world’s seventh-biggest container carrier, filed for court receivership after losing the […]
Do Any of the Current Rallies Pass “The Sniff Test”? No.
Do Any of the Current Rallies Pass “The Sniff Test”? No. But you can’t tame the monster of speculative, legalized looting and financialization. Everything from iron ore to copper to the Baltic Dry Index to stocks to bat guano is rallying. The problem is not a single rally passes “the sniff test:” is the rally the […]
The End of Globalization?
The End of Globalization? BRUSSELS – China has just announced that last year, for the first time since it began opening up its economy to the world at the end of the 1970s, exports declined on an annual basis. And that is not all; in value terms, global trade declined in 2015. The obvious question […]
“It Hasn’t Been This Bad Since The Viking Age”: Dry Bulk CEO Warns Of Bankruptcy Tsunami, Counterparty Risk
“It Hasn’t Been This Bad Since The Viking Age”: Dry Bulk CEO Warns Of Bankruptcy Tsunami, Counterparty Risk In the past three months we have repeatedly shown that, despite the recent modest rebound off the all time lows, the bottom is about to fall out of the dry bulk shipping market in articles such as […]
World Trade Collapses Most Since Crisis
World Trade Collapses Most Since Crisis One question now dominates the global macro discussion: has subdued global growth and trade become the norm in the post-crisis world? That is, have lackluster growth and trade become structural and endemic rather than transient and cyclical? Those are the burning questions that keep central bankers (not to mention […]
Ifo WorldEconomic Climate Index: 1Q 2016
Ifo WorldEconomic Climate Index: 1Q 2016 Global growth leading indicators are screaming it, Baltic Dry Index is screaming it, PMIs are screaming it, BRICS are living it, and now Ifo surveys are showing it: global economy is heading into a storm. The latest warning is from the Ifo World Economic Climate Index. Per Ifo release: […]
World’s Biggest Containership “Hard Aground” As Baltic Dry Crashes Below 300 For First Time Ever
World’s Biggest Containership “Hard Aground” As Baltic Dry Crashes Below 300 For First Time Ever Before this year the lowest level The Baltic Dry Index had reached was 556 in August of 1986 and the highest was in June 2008 at a stunning 11,612. Today saw the freight index hit a new milestone however, crashing […]
Economic Activity Is Slowing Down Much Faster Than The Experts Anticipated
Economic Activity Is Slowing Down Much Faster Than The Experts Anticipated We have not seen global economic activity fall off this rapidly since the great recession of 2008. Manufacturing activity is imploding all over the planet, global trade is slowing down at a pace that is extremely alarming, and the Baltic Dry Index just hit another […]
What If The Imploding Baltic Dry Index Does Reflect Global Trade After All
What If The Imploding Baltic Dry Index Does Reflect Global Trade After All Earlier today, the Baltic Dry Index hit a new all time low. This is not new: we have been tracking the collapse of the Baltic Dry – aside for the occasional dead cat bounce – to all time lows, a proxy of […]
Lowest Ever: The Baltic Dry Index Plunges To 394 As Global Trade Grinds To A Standstill
Lowest Ever: The Baltic Dry Index Plunges To 394 As Global Trade Grinds To A Standstill For the first time ever, the Baltic Dry Index has fallen under 400. As I write this article, it is sitting at 394. To be honest, I never even imagined that it could go this low. Back in early August, […]
Food and Medicine Will Soon Be Unobtainable
Food and Medicine Will Soon Be Unobtainable If product is not moving, then how will you get your food, medicine and other essential supplies? Famed economists, John Williams, from Shadow Stats and Joseph Meyer, Straight Money Analysis, will tell you that the Baltic Dry Index is the best indicator of the economic health of the […]
