|
1
|
|
Baltic dries up |
|
FOR most of the past two decades the main measure of shipping costs has been used as a guide to what is happening to world trade. So the fact that the Baltic Dry Index—which measures the rates charged for chartering the giant ships that carry coal, iron ore and grain—has fallen by almost 60% in its longest streak of consecutive declines for nine years (34 days running as of July 14th) has won attention. |
|
|
|
|
|
|
1
|
|
Yuanimpressed |
|
China’s adjustment of its currency is too small and slow for many |
|
|
|
|
|
|
2
|
|
Curate's eggs |
|
THE second-quarter results posted so far by large American banks have been good in parts, bad in parts, though like the curate’s egg in the famous Punch cartoon, the bad somewhat outweighs the good. The relief that the worst of the crisis has passed—for them, if not their European peers—was palpable. But some dark clouds remain in the sky. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|