The situation in the Red Sea is worsening and it wouldn’t surprise us to see spill-overs to the energy space by now. Here is an update on the situation!
Inflation math is important in times of price pressures and the embedded math works to underpin the economy via deficit spending.
The market seems to be chasing the narrative of higher rates for now and the whisper clearly leans in the direction of a stronger job report. Meanwhile, freight rates continue up.