Monday, April 5, 2010
For background on this relatively obscure index of shipping costs in the North Atlantic, see here and here. After spending a year at extremely depressed levels, it is now up over 20% from its year-end '09 lows as of last week. I don't know enough about this to say it's hugely important, but it can't be bad news, of that I'm pretty sure. The strength in the index also makes sense in the context of the ongoing signs of recovery in the US and most other economies around the world.
Posted by Scott Grannis at 3:55 PM