The Baltic Dry Index is often cited by economists as a bellwether of global economic activity. The index, which measures the price of transporting raw materials by sea, has now risen by more than 21% from its recent lows and is also up 16% in the last week alone …calling into question the advent of a global recession. [Let us explain.]
So says Bespoke Investment Group (Bespokeinvest.com) in an article* which Lorimer Wilson, editor of MunKNEE.com (It’s all about Money!), has further edited ([ ]), abridged (…) and reformatted below for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement. The article goes on to say:
The index, however, is not immune from critics who argue that the index is extremely volatile and has often provided false alarms on both the upside and downside.
That being said, in an environment where investors are beginning to price in a global recession, the increase in the Baltic Dry Index calls that view into question.
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