June 29, 2020

Fathom Chart of the Day 26.06.2020: Baltic Dry Index points to a V

by Fathom Consulting.

The Baltic Dry Index, a measure of the price of shipping dry goods around the world, has increased by 60% so far this year. It was hit early on by the COVID-19 crisis, but has surged recently — reflecting the recovery happening in the world’s principal consumer of dry commodities: China. China is already experiencing the early phase of a V-shaped recovery, which is very encouraging for the prospects for the global economy too. A V remains our central case, although the risk of an L is still material.

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This chart is taken from Fathom’s Recovery Watch newsletter. Click here to subscribe to Recovery Watch and Forums.

Next forum date: Monday 29 June 2020

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