Baltic Dry Index drops 8% overnight - Zerohedge

NEWFNL1A1 · December 12, 2012, 08:21

Baltic Dry Plunges By Over 8% Overnight, Most Since 2008
12-12-12
t has been a while since we looked at the Baltic Dry Index, which when normalizing for the excess glut in dry container ship supply (such as right now - 5 years after all the excess supply in the industry - has long been normalized), continues to be one of the best concurrent indicators of global shipping and trade. We look at it today, moments ago it just posted an epic 8.2% plunge, crashing from 900 to 826, or the biggest drop since 2008! Of course, conisdering the collapse in global trade confirmed in past days by both Chinese and US data, this should not come as a surprise, although we are certain it will merely bring out the BDIY apologists who tell us that supply and demand here (like in every other Fed-supported market) are completely uncorrelated.

http://www.zerohedge.com/news/2012-1...ight-most-2008

RG Coburn · December 12, 2012, 11:42

Dayum!

NEWFNL1A1 · December 12, 2012, 12:02

Quote:

Originally Posted by RG Coburn

Dayum!

Ha! Had to go to the Urban Dictionary for that one!!!

gates · December 12, 2012, 12:12

Nothing to see here - in other news Bernank vows to continue easing after yesterdays FOMC meeting - thats all that really matters now.

**Jaxxas** · December 12, 2012, 20:07

Who's got the popcorn? It's all a sideshow at this point!

December 12, 2012, 08:21	#1
NEWFNL1A1 Out standing in his field Bronze Contributor FALaholic #: 43401 Join Date: Mar 2009 Location: Tx Posts: 3,214	Baltic Dry Index drops 8% overnight - Zerohedge Baltic Dry Plunges By Over 8% Overnight, Most Since 2008 12-12-12 t has been a while since we looked at the Baltic Dry Index, which when normalizing for the excess glut in dry container ship supply (such as right now - 5 years after all the excess supply in the industry - has long been normalized), continues to be one of the best concurrent indicators of global shipping and trade. We look at it today, moments ago it just posted an epic 8.2% plunge, crashing from 900 to 826, or the biggest drop since 2008! Of course, conisdering the collapse in global trade confirmed in past days by both Chinese and US data, this should not come as a surprise, although we are certain it will merely bring out the BDIY apologists who tell us that supply and demand here (like in every other Fed-supported market) are completely uncorrelated. http://www.zerohedge.com/news/2012-1...ight-most-2008 __________________ Neo-Luddite - Traigo Mi Cuarenta y Cinco - Inch Guy I'm just a peckerwood who lives in the hills with too many hours on Call of Duty.

December 12, 2012, 20:07	#5
Jaxxas Don't Tread On Me! Bronze Contributor FALaholic #: 34933 Join Date: Mar 2008 Location: Arizona Posts: 3,176	Who's got the popcorn? It's all a sideshow at this point! __________________ JaXXas It's funny though, everywhere else I'm considered the lunatic fringe, on FAL Files I'm a moderate.

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December 12, 2012, 11:42	#2
RG Coburn Registered FALaholic #: 27406 Join Date: Mar 2007 Posts: 10,908	Dayum!

December 12, 2012, 12:12	#4
gates Registered FALaholic #: 129 Join Date: Jul 2000 Location: phx az Posts: 10,348	Nothing to see here - in other news Bernank vows to continue easing after yesterdays FOMC meeting - thats all that really matters now.