September 2, 2023
As you all know, the Baltic Dry Index (BDI) is an index of average prices paid for the transport of dry bulk materials across more than 20 routes. The BDI is often viewed as a leading indicator of economic activity because changes in the index reflect supply and demand for important materials used in manufacturing. […]
Read the full article →
August 26, 2023
Last week was as expected. The Republican debate was as expected (nothing happened). Jerome Powell’s speech at Jackson Hole on Friday was as expected (“The inflation fight is not over; I will raise rates further if needed.”). Also as expected, the end game is near for the “Magnificent Seven” stocks (AAPL, AMZN, MSFT, META, NVDA, […]
Read the full article →
Have Yields Topped?
September 30, 2023I have no idea. The Canada 5-year yield dropped from 1996 through 2020. It got down to around zero, and has climbed since, closing Friday at 4.25% Here’s the long term view: And here’s the short-term view: Over the last week, the yield has been flat. It “double topped” at 4.78% on Thursday, and then […]