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BDI is Now Up 24 Dys in a Row.

Here is another early, nascent sign of global economic recovery. The Baltic Dry Index ($BDI) of international shipping rates was one of the markets worst hit by the seizing up of international trade, vaporizing 95% from 12,000 to only 600. It has since clawed its way back up to 4,100, up 620% from the November bottom. It lead the commodity collapse in June by a good month. Could it now be signaling a recovery? At least things are not getting worse, and we may see a period of bottom bouncing before a sustainable up trend develops.