If you listen very carefully, you will still hear absolutely nothing from any talking-heads of the utter collapse that the last few weeks have witnessed in the Baltic Dry shipping index. The Baltic Dry has dropped 12 days in a row and plunged back to $1061 - its lowest since August 2013. This is the worst start to a year on record... must be the weather.
The Baltic Dry has dropped 12 days in a row and is now back to its lowest levels since August 2013... and almost post-crisis lows...
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Which is the worst start to a year since records began 30 years ago...
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The last time we saw a year start like this was 2012 which saw massive concerted co-ordinated central bank easing in Q3 to save us all... it seems that is not coming anytime soon this time...
Data: Bloomberg