trueeconomics.blogspot.com / Constantin Gurdgiev / Friday, February 24, 2017
All of the discussions about the Baltic Dry Index – a proxy for global trade flows – in recent weeks was centred on the alleged recovery in the index valuations from the historical lows of 1Q 2016. Much of this recovery was predicated on the cost of fuel that went to inflate the cost of shipping, rather than the genuine uptick in global trade.
In fact, as the most recent data suggests, uptick in global trade volumes is nowhere to be seen:
The post 24/2/2017: Baltic Dry Index is Still in a Disaster Territory appeared first on Silver For The People.