“China continues breaking all trend lines; both the BDI and the Harpex argue that further weakness lies ahead” – Beachcomber
Here’s the updated Harper Petersen Containerized Freight Index. The Harpex fell 40% in the second half of 2011, reflecting the then accelerating slowdown in global demand, and serving notice that China’s export dependent economy was about to be exposed. After six straight months of decline, the Harpex bounced 20%, before turning back down toward the lows. It wouldn’t take much additional decline for the Harpex to test the area of the financial crisis lows of 2008.
SSEC – BDFI Daily
Disclaimer: This communication should not be construed as an offer to sell or the solicitation of an offer to buy any security. (Click here for full disclaimer)