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Old December 12, 2012, 09:21   #1
NEWFNL1A1
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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
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Old December 12, 2012, 12:42   #2
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Dayum!
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Old December 12, 2012, 13:02   #3
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Quote:
Originally Posted by RG Coburn View Post
Dayum!
Ha! Had to go to the Urban Dictionary for that one!!!
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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.

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Old December 12, 2012, 13:12   #4
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Nothing to see here - in other news Bernank vows to continue easing after yesterdays FOMC meeting - thats all that really matters now.
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Old December 12, 2012, 21:07   #5
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Who's got the popcorn? It's all a sideshow at this point!
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