From WSJ: Storm-tossed investors are finding hope at sea. The Baltic Exchange’s Baltic Dry Index, which measures the cost of shipping raw materials and is widely considered a leading economic indicator, has bounced 174% from a 22-year low last December. The rebound is the latest hint of a slight easing of the global recession.
Shipping costs probably have seen their bottom for the cycle. But the Baltic Dry can send false economic signals, having done so at least twice in the past two years….. Full Article: Source