Over the past few weeks, Calculated Risk has several posts on freight activity, here, here, and here. The highlights:
- Container shipping is at an all-time low.
- ATA truck tonnage ticked up in March.
- LA port traffic took at 35% year-over-year nosedive in February.
The charts below show three ETFs - the iShares Dow Jones Transportation Index (
IYT) and the Claymore/Delta Global Shipping Index (
SEA), respectively. They both have rebounded off recent lows but IYT - which has more significant volume - has shown declining volume as the rally has progressed.
The ETFs seem to be responding to the recent news, not discounting the future continued/likely declines in transportation companies.
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