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Global Growth Hopes Fade As Baltic Dry Drops Most In 11 Months

Tyler Durden's picture





 

While the recent surge in the Baltic Dry Index was headlined as 'proof' that the global recovery was 'on', China is back, and every retiree should BTFATH, we recently noted, all was not at all it seems on the surface of this data. Fast forward a few days and we have had 2 China PMI misses (notably disappointing relative to their Flash prints) and now the Baltic Dry has plunged by its most in 11 months over the last 4 days. Of course, we've seen these kind of ramps and dumps before in the Baltic Dry - though it is odd that we don't hear the cheerleaders as the price collapses.

 

 


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Tue, 10/01/2013 - 15:25 | Link to Comment TeamDepends
TeamDepends's picture

This can only mean one thing.  DOW 16000!!!

Tue, 10/01/2013 - 18:36 | Link to Comment Crash Overide
Crash Overide's picture

Did Walmart's Link-carders switch to the Dollar Store? Boo fucking hoo...

Tue, 10/01/2013 - 15:29 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

...though it is odd that we don't hear the cheerleaders as the price collapses.

Technically speaking, are not all transportation indices are transitory?

Tue, 10/01/2013 - 15:33 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Is it too late to BTFATH?  < sarc of > Shit, I switched from a "return on captial" to a "return of capital" apporoach to investing a long time ago.

Tue, 10/01/2013 - 15:54 | Link to Comment Manthong
Manthong's picture

that was an important indicator only back when fundamentals and technicals mattered in price action.

Tue, 10/01/2013 - 16:03 | Link to Comment lasvegaspersona
lasvegaspersona's picture

Doing 'god's work' does not require shiping.

The USA is in the businees of exporting our financial greatness....until the rest of the world decides it is really just empty promises that will never allow wealth to be had by the holder.

At that point we loose about ...what..20% of GDP...and we have to apy for our imports with exports...other than electrons.

Tue, 10/01/2013 - 16:08 | Link to Comment LawsofPhysics
LawsofPhysics's picture

More to the point, yes, the current GDP of the U.S.S.A. includes 30% paper-pushing.  you know, financial "products" of mass destruction.

hedge accordingly.

Tue, 10/01/2013 - 17:57 | Link to Comment butchee
butchee's picture

Manthing is correct....the baltic dry is no longer relevant for too many reasons....the main one being is that there are farr to many vessels bringing shit to all the tapped out debt vassals.

Tue, 10/01/2013 - 15:29 | Link to Comment Grande Tetons
Grande Tetons's picture

This is great news for Germany! They can charter a steamer to NYC and easily pick up their gold. 

Tue, 10/01/2013 - 15:29 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

..."their" gold.  As if.

Tue, 10/01/2013 - 15:33 | Link to Comment Frozen IcQb
Frozen IcQb's picture

What time is it?

Rampalooza time!  boys and girls.

Just get on the bus and let the nice bald and bearded bus driver do his job!

Tue, 10/01/2013 - 15:35 | Link to Comment Grande Tetons
Grande Tetons's picture

Fuck it. I am going with no ramp today. It is a brave call. 

Tue, 10/01/2013 - 15:40 | Link to Comment Frozen IcQb
Frozen IcQb's picture

It's an ugly bus but don't step in front of it. It's still a bus.

Tue, 10/01/2013 - 15:50 | Link to Comment Zer0head
Zer0head's picture

if the reps continue to be insolent

someone will make the market crash

 

Tue, 10/01/2013 - 16:08 | Link to Comment Frozen IcQb
Frozen IcQb's picture

The Wizard of Froz is humble today. It's not a ramp. It looks more like a tower.

Tue, 10/01/2013 - 16:18 | Link to Comment Grande Tetons
Grande Tetons's picture

As of 3:30 EST your ramp looks more like Kate Moss sunbathing under the West Texas sun. 

 

Tomoorow is another day. 

Retract. Apprently, Kevin left the audition at 3:59. Little fucker. 

Tue, 10/01/2013 - 16:20 | Link to Comment Frozen IcQb
Frozen IcQb's picture

:)

Tue, 10/01/2013 - 16:22 | Link to Comment Grande Tetons
Grande Tetons's picture

Got me.  Good call. 

 

That little fucker.  

Tue, 10/01/2013 - 16:03 | Link to Comment Grande Tetons
Grande Tetons's picture

Apparently, Kevin Henry had an audition at 3:30 for the part of body double in the remake of the 1980 film Cruising. 

 

No ramp today. 

I think Kevin will have a hard time sitting at his terminal tommorow. 

Tue, 10/01/2013 - 16:07 | Link to Comment Its Only Rock N Roll
Its Only Rock N Roll's picture

ummmm, that was quite the last 45 second ramp

Tue, 10/01/2013 - 23:37 | Link to Comment Sovereign Economist
Sovereign Economist's picture

Grande Tetons wrote:  "...This is great news for Germany! They can charter a steamer to NYC and easily pick up their gold. "

Easily?  Hmmm, maybe not!  In the shutdown, there are no government personnel available to help them get it out of the government building...  Ah HA!  So, now we know the REAL REASON for the government shutdown....   and YOU thought it was just politics!!!!

Tue, 10/01/2013 - 15:37 | Link to Comment buzzsaw99
buzzsaw99's picture

wtf are you talking about willis? BALT has been on a tear since the beginning of the year. http://www.youtube.com/watch?v=v17lMr0j2D8

Tue, 10/01/2013 - 16:12 | Link to Comment French Frog
French Frog's picture

Don't get me wrong, I love ZH, but you made the point clearer than I could have hoped to do....

My first reaction was "how low can the BDI go?" and then I realised that, as has been the case for the last 3-4 years, the 'good' news about the BDI has been absent as it has been steadily climbing for 6 months+ and is now back to summer 2011 levels, yet we have heard very little about that.

Tue, 10/01/2013 - 20:11 | Link to Comment caShOnlY
caShOnlY's picture

My first reaction was "how low can the BDI go?"

"when you look at something negative for so long..... the government will change it to a positive!".   

Does the BDI seem to correalate with the shitty economy? NOPE!!

 

Tue, 10/01/2013 - 15:37 | Link to Comment ebworthen
ebworthen's picture

What?

Two months before the holiday orgy of buying useless crap from China?

Perhaps retailers are going light on inventory because they know the economy sucks?

Tue, 10/01/2013 - 15:40 | Link to Comment NOZZLE
NOZZLE's picture

You'd think with all the Dollars that Bukakke is printing and shipping to Europe it would have a postive effect on shipping.

Tue, 10/01/2013 - 15:54 | Link to Comment Nikola
Nikola's picture

Chinese Christmas light/decoration shipments now out the door and index drops?

Tue, 10/01/2013 - 18:35 | Link to Comment Goldilocks
Goldilocks's picture

Futurama: Bender's Big Score (2007)
http://www.imdb.com/title/tt0471711/

"Nah, Nah Nah Nah, Hey, Hey, We took your stuff!"

Nah Nah Nah Hey Hey Hey Goodbye Edited
http://www.youtube.com/watch?v=WV0bqASKAY8 (2:21)

Tue, 10/01/2013 - 16:10 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Who needs growth when you've got infinite "Keynesian" debt?

Tue, 10/01/2013 - 16:23 | Link to Comment assistedliving
assistedliving's picture

BDI anticipating the loss of BS carried on SUPRAMAX ex Washington/Baltimore due to government shutdown.

VLCC = very large Cruz carrier

 

Tue, 10/01/2013 - 17:06 | Link to Comment CheapBastard
CheapBastard's picture

Robust!

Tue, 10/01/2013 - 18:09 | Link to Comment 10PastMidnight
10PastMidnight's picture

all that last minute prepping must have paid off for the shippers, but it looks like everyones bought up now and heading for the hills.

Tue, 10/01/2013 - 19:12 | Link to Comment orangegeek
orangegeek's picture

There's no more tankers left to fill up with excess oil production and there wasn't any activity prior to this oil fraud.  And so BDI tanks - watch oil go next.

Tue, 10/01/2013 - 20:54 | Link to Comment Keloid
Keloid's picture

Is it okay to cheat if playing a game with other compulsive cheaters? I consider it mandatory.

Do NOT follow this link or you will be banned from the site!