Baltic Dry Index rises for eight straight days
There was a time 10-15 years ago when the Baltic Dry Index was one everyone's radar. It turns out it wasn't much of an indicator of anything regarding global demand.
But it still has some believers and that's why I want to highlight 8 straight days of gains as the chart begins to go parabolic. It's at the highest levels since 2010 and measures the cost of moving goods by ship.
It still has a long ways to go to get back to its former glory but it doesn't argue for weak global demand.
