Michael McDonough's  Instablog

Michael McDonough
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Michael is an economist and primary contributor to the Bloomberg Brief: Economics Newsletter. To subscribe either go to {BRIEF } for terminal users, or alternatively http://www.bloomberg.com/brief for non-terminal users. The Economics Brief is intended for portfolio managers, traders, analysts,... More
My company:
Bloomberg LP
My blog:
Fiat Economics
  • BDI Starts the Year on the Right Foot 0 comments
    Jan 5, 2010 10:43 AM | about stocks: DRYS, DSXOQ, EXM, EGLE, NM

    The Baltic Exchange's Baltic Dry Index (BDI) has risen 9% from its year end 2009 level--ending a strong selloff leading up to the holidays.  China continues to hold a disproportional influence over shipping rates, and a recent run-up in Chinese steel and iron ore prices should help support shipping rates over the near-term. But, lets not forget, over the past year BDI performance has been akin to a toddler learning how to walk, with sudden short runs, followed by hard falls.  This volatility should continue, but begin to diminish as the market continues to find its legs.

    For a much more detailed analysis and outlook please see my shipping column published every Tuesday on RealMoney at the Street.com.

    Baltic Exchange Indices:

    Source: Bloomberg & Capital Link

    Disclosure: N/a

    Stocks: DRYS, DSXOQ, EXM, EGLE, NM
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