the headlines last Friday were about the US jobs report …however, there was an even more curious and eyebrow raising event occurring .. the Baltic Dry Index crashed 11.4% on Friday in it’s single biggest percentage decline on record. It exceeded it’s last record, which occurred in October 2008. When this indicator rises, all is well and the party continues. When it drops … well, you don’t hear much about it. As an FYI, the move w/in the Baltic Dry Index is the worst start in 30+ years.
stay tuned …
