Yesterday the FED just release the concern over the potential of pandemic second wave & the number of US citizens applying the unemployment aid is growing to worrying level. Then all the markets drop like nobody business.
The crypto market also doesnt spare from the big drop. The big brother Bitcoin also decided to join the diving.
Sourcel: https://www.coingecko.com/en/coins/bitcoin
This evening , I was trying to search around for reading. Then I found Baltic Dry Index (BDI) was working the other way- it had rise for close to 10%
Source: Bloomberg[https://www.bloomberg.com/quote/BDIY:IND]
Baltic Dry Index is related to raw material shipping. Does it mean the economy starts picking up? as raw material index should first react to demand or projection of future, you will need raw material to process further to become product to sell.
Oil price stable at $30-40 range. BDI rising. Is the spring around the corner? I wonder