GDP Contracts, Rates Improve, Appreciation Strong
GDP – the headline figure for the worst GDP report on record was -33%, does that mean that 1/3 of our economy evaporated in one quarter? The report showed that we produced 9.5% less in Q2 than Q1. If we continue on this rate for an entire year, then the economy would contract by a […]
-$37 Barrels, Rates Improve, Freight Down
The price of oil has fallen dramatically since the pandemic – from $60 a barrel in January to negative $37 per barrel on Monday. Suddenly oil companies and speculators (investors who buy in large quantaties hoping to sell for a higher price) needed to store a massive amount of unsellable, hazardous product. In some cases […]
Jobless Claims Remain at 1.5M, Tight Supply, Strong Purchase Applications
Which economies have fared well during Covid and do they have anything in common? Japan & Germany’s work sharing programs have performed well – instead of cutting 20% of your workforce cut everyone’s hours by 20% and the government provides assistance as well. Ultimately countries with the best healthcare and aggressive early public health responses […]