ChartBrief #1 – Global Freight Rates

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ChartBrief #1 – Global Freight Rates

ChartBrief #1 – Global Freight Rates by Topdown Charts

ChartBrief …what’s a ChartBrief? (you might be thinking)  But then again, the name kind of says it all. ChartBrief is a new series or format of posts that will be featuring on Topdown Charts.  It’s a chart and at most 2 paragraphs.  It differs from the usual article here which goes through a series of charts and ties it all together with some sort of theme, outlook, or investment conclusion.  ChartBrief is meant to be an efficient means of getting interesting, thought provoking, and breaking news charts up, but with a bit more commentary and context than you might get on the Twitter feed.

So here’s the first one (and yes they will all be numbered, so we can refer back to them easily)

Contrarian Investor Conference: Short thesis for Momentus

MomentusThe space sector has captured the imagination and the pocketbooks of Wall Street as big names like Virgin Galactic rocket higher. However, not every name in the space sector is a good play. In fact, the Securities and Exchange Commission has gone so far as to name one space company a fraud. Q3 2021 hedge Read More

An interesting trend has emerged in two key global freight cost indexes; the well known Baltic Dry Index, and the slightly lesser known China Containerized Freight Index (CCFI). The former tends to deal more in bulk commodities, and the latter has broader coverage and specifically measures freight rates for Chinese exports – a useful thing given China still remains an important global supplier.

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After hitting their worst levels earlier this year (February for the Baltic Dry and April for the CCFI) both have begun a gradual recovery process. These indexes provide a proxy for global trade demand, and both are high frequency indicators (daily for the Baltic Dry and weekly for the CCFI), so are worth keeping an eye on. The nascent improving trend is a positive sign for global trade growth.

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Topdown Charts: "chart driven macro insights" Based in Queenstown, New Zealand, Topdown Charts brings you independent research and analysis on global macro themes and trends. Topdown Charts covers multiple economies, markets, and asset classes with a distinct chart-driven focus. We are not bound by technical or fundamental dogma, and instead look to leverage any relevant factor to capture the theme. As such, here you will find some posts that are purely technical strategy, some that just cover economics and data, and some posts that use multiple inputs to tell the story and identify the opportunities. Callum Thomas Head of Research Callum is the founder of Topdown Charts. He previously worked in investment strategy and asset allocation at AMP Capital in the Multi-Asset division. Callum has a passion for global macro investing and has developed strong research and analytical expertise across economies and asset classes. Callum's approach is to utilise a blend of factors to inform the macro view.
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