“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 Monthly

SSEC – BDFI Daily

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