In the midst of all the gloom and doom, a couple of tables/charts seem to be indicating something else.
The Baltic Dry Index is often cited by economists as a bellwether of global economic activity. The index, which measures the price of transporting raw materials by sea, has now risen by more than 21% from its recent lows and is also up 16% in the last week alone. The index, however, is not immune from critics who argue that the index is extremely volatile and has often provided false alarms on both the upside and downside. That being said, in an environment where investors are beginning to price in a global recession, the increase in the Baltic Dry Index calls that view into question.
The following is even more astounding. In light of recent events, five strategists at top houses have adjusted their year end targets for SP500 higher. Only two have adjusted down, while six have left the unchanged.
There appears to some kind of disconnect between the macro issues and the corporate realities. Are the macro an indication of things to come or can they be separate issues?
Title: Things Not So Bad?
Posted by:Iwanr
Published :2011-08-25T23:16:00-07:00
Rating: 3.5
Reviewer: 5 Reviews
Things Not So Bad?
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