It has been quite a while since we have looked at the Baltic Dry Index last time. There you have it. The index is stuck in a clear downtrend and is once again pushing towards multi-year lows. Quite an opposite take on the “Economy Is Great & Getting Better” view perpetuated by most mainstream economists.
FedEx just confirmed the same by missing earnings and guiding lower FedEx 1st-quarter results mixed, lowers fiscal 2016 outlook
We all know that global trade is slowing down, but there is a bigger story here. That is, the stock market must catch up to this economic reality. And as of now it has quite a bit of ground to cover to the downside to accomplish just that.
