The Baltic Exchange Dry index, which measures the shipping costs for commodities, reached its highest level since September, mostly because of rising demand in China for iron ore, coal and grains.
The price of oil closed above $70 a barrel on June 10th for the first time this year.
Standard & Poor’s warned Asian countries that their sovereign-debt ratings were at risk of being downgraded. The credit-rating agency recently lowered its outlook from “stable” to “negative” for India and Taiwan because of their “fiscal deterioration” caused by massive economic support programmes. Meanwhile, S&P lowered its debt rating for Ireland, again.
No comments:
Post a Comment