The Baltic Dry Index is up 82% since bottoming in late January, which might be a sign that the global economic environment is not faring as poorly as many think. The index was cut in half from its October peak to its January bottom, but it quickly reversed and is now approaching record highs again.
The Baltic Dry Index measures changes in the cost to transport raw materials by sea, and as noted on Investopedia, it "can give investors insight into global supply and demand trends."
"This change is often considered a leading indicator of future economic growth (if the index is rising) or contraction (index is falling) because the goods shipped are raw, pre-production material, which is typically an area with very low levels of speculation."
Go to B.I.G. for the chart.