The Baltic Dry Index (BDI) saw a run of 17 straight gains in February and a 15% rise on February 4, the biggest one-day increase in almost 25 years.
The BDI is seen as a barometer for commodity prices, and the 119% increase over the past three months may point towards a turning point in the markets.
However, the index fell by more than 70% in the past 12 months and therefore any growth is relative, as George Cambanis, global head of shipping at Deloitte, points out.
"There is a long way to go
- People moves: SocGen adds in prime services, Deutsche fills new rates hole, HSBC makes model move, and more
- Quant Finance Master’s Guide 2019
- Credit risk quants are hitting the tech gap
- Princeton tops inaugural Risk.net quant master’s ranking
- Does credit risk need an expected shortfall-style revamp?