Your Grandfather's Military Is Dead

Baltic Dry Index Nears Breakout As "Perfect Storm" In Global Shipping Emerges The daily benchmark measuring the cost of shipping raw materials across major global maritime routes is breaking out to a nearly three-year high this week, as Bloomberg reports that typhoons are squeezing the supply of Capesize vessels just as mining companies increase iron ore shipments across the Pacific and Atlantic. The Baltic Dry Index, which tracks freight rates for several vessel classes, including Capesize, Panamax and Supramax vessels, jumped 5.5% to 3,331 points in London on Wednesday, its highest...

Futures Flat, Oil Jumps After Iran Peace Talks Break Down US equity futures are off a touch as the US/IranIran failed to consummate a deal, which is boosting Energy commodities and bond yields. Still, stocks have withstood the resulting increase in oil prices and higher bond yields as the market remains focused on the memory/semi stock bubble. As of 8:00am ET, S&P and Nasdaq 100 futures are down fractionally as Trump and Iran rejected each other’s latest peace proposals to end the 10-week conflict as the two sides struggle to maintain a...