Markets

European Banks May Soon Have To Write Down $100 Billion Worth Of Bad Shipping Loans

[credit provider=”blog.sina.com.cn” url=”http://blog.sina.com.cn/chinatop10″] Yesterday, we discussed how the Baltic Dry Index (BDIY), a benchmark for shipping rates, isn’t a perfect proxy for the macroeconomy.  Sure, shipping rates fluctuate with global trade activity.  But the correlation between rates and the economy is distorted by supply and demand dynamics within the shipping […]
European Banks May Soon Have To Write Down $100 Billion Worth Of Bad Shipping Loans
Markets

Why Haven’t We Heard About The Baltic Dry Index Lately?

Probably because it’s been rising all month, and it’s usually one of these indices that folks only talk about when it’s going down. It’s still a bit below its highs in September, but given its unreliability as an indicator of, well, anything, it doesn’t matter too much.
Why Haven’t We Heard About The Baltic Dry Index Lately?
Markets

Meanwhile, The Baltic Dry Index Has Been Getting Hammered

You don’t want to read too much into this. As we’ve pointed out before, the Baltic Dry Index — the measure of shipping rates — get over-read, and doesn’t usually mean what people think it does. Nonetheless, it’s way down of late, having been hammered yesterday, even while markets in […]
Meanwhile, The Baltic Dry Index Has Been Getting Hammered