The Baltic Dry Index, a measure of shipping rates for bulk goods, has foundered.

ECONOMIST: Maersk orders ten colossal vessels

The Baltic Dry Index, the most widely followed measure of shipping costs, collapsed in January and, after a brief rally, is now on a down trend again.

FORBES: German Banks Don't Have Enough Capital To Face A Severe Downturn, Moody's Says

Chinese prices of steel have risen by 20% since November, and the Baltic Dry Index, a measure of shipping rates and hence the demand for commodities, has more than doubled, although it is still 84% below its 2008 peak.

ECONOMIST: For those looking gamely for bright spots, China flickers