Seeking Alpha
Registered investment advisor, macro, ETF investing
Profile| Send Message|
( followers)  

Since making a short-term peak on May 26th (about a month after equity markets peaked), the Baltic Dry Index has declined for 17 trading days in a row and fallen 38%. The index has now just made it down to its February lows. Equity markets hit and bounced off of their February lows a couple weeks ago. Like the ships that carry the goods whose prices this index tracks, the Baltic Dry takes awhile to switch directions, and once it picks up steam, it's hard to slow it down.

click to enlarge

Source: Baltic Dry Index Down 17 Days in a Row