Global Macro Perspectives
China Consumer Price Index was up 4.2% in November, vs. 4.5% consensus and 5.5% October reading. Food inflation eased from 11.9% to 8.8%..
China Producer Price Index fell to 2.7% from 5.0% in October. Consensus was at 3.4%.
Massive oversupply.
Crude oil market looks well balanced. Future economic conditions and consequent commodity demand are key here.
U.S. railroads originated 265,305 carloads, down 12.6% compared with the same week in 2010 and down 12.3% in relation to 5-year average. Week over week change was -12.1% . This was all due to Thanksgiving Day seasonality.
Baltic dry index rose 3.3% last week; Capesize Index was up 11.8%; Panamax Index fell 5.2%; Supramax Index was down 3.3%; Handysize Index fell 2.5%.
Baltic Dirty Tanker Index fell 0.8%; Baltic Clean Tanker Index rose 3.0%.
Baltic Dirty Tanker Index fell 0.6%; Baltic Clean Tanker Index rose 3.4%.
Baltic dry index fell 4.6% last week; Capesize Index was down 5.7%; Panamax Index fell 2.0%; Supramax Index was down 0.1%; Handysize Index fell 3.3%.
HSBC/Markit PMI fell from 51 to 48.0.
Baltic dry index rose 3.3% last week; Capesize Index was up 2.7%; Panamax Index rose 4.0%; Supramax Index was up 4.3%; Handysize Index fell 2.1%.
Baltic Dirty Tanker Index rose 1.4%; Baltic Clean Tanker Index fell -2.4%.
Crude oil supply and demand remain balanced. Crude had a tremendous run and it’s starting to look overextended. Brent WTI price spread narrowed on the reversal of Seaway pipeline.
Baltic dry index rose 2.9% last week; Capesize Index was up 13.0%; Panamax Index fell 4.1%; Supramax Index was down 7.1%; Handysize Index fell 7.3%.
Baltic Dirty Tanker Index rose 1.3%; Baltic Clean Tanker Index fell -1.7%.
Baltic dry index fell 11.6% last week; Capesize Index was down 14.8%; Panamax Index fell 5.3%; Supramax Index was down 7.8%; Handysize Index fell 7.4%.
