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News Link • Economy - Economics USA

Baltic Dry Index Slides 5% To 14 Month Low, 30th Day Of Declines

After slumping 4% yesterday to close at 2,127, the Baltic Dry has plunged yet another 5% today, to close just above 2,000 at 2,018. This is the lowest level for the index in 14 months since May 5 of 2009 when it last traded by 2,000 and a reason for all Chinese trade "resurgence" bulls to reevaluate their thesis. Did China outsmart everyone, with the Yuan "reval" coming at a time when planned foreign trade would be de minimis? In the meantime, this is bad news for Australia and Brazil, and especially the AUD and the BRL, but who cares about facts anymore.

1 Comments in Response to

Comment by Found Zero
Entered on:

Moisturize the Baltic Dry Index now before it's too late! Alert the Avon Lady!

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