Some more creeping weakness in the massively inflated price of trade infrastructure. As we know, Pacific routes are tumbling:
Now, containers are falling as well:
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Chinese ports have cleared though the US west coast is still congested.
The Baltic Dry has slowed too but it’s too early to declare a peak:
Some semiconductor markets have cleared as well and most will probably fully correct by Q1, including automotive.
Once the energy bubble pops, and China’s adjustment advances, 2022 will become the year of the great deflation.