French bonds led losses in European markets; France's 10-year OAT yield rose 10bps to 4.61%.

On Wednesday the Baltic Dry Index (BDI) eased 2 points (-0.06%) to 3,430, led by a decline in capesize rates. The Baltic Capesize Index (BCI) fell 31 points (-0.5%) to 5,861; capesize average daily earnings decreased $286 to $49,652. The Panamax Index (BPI) rose 34 points (1.5%) to 2,333, lifting Panamax average daily earnings by $309 to $20,996. The Supramax Index (BSI) ticked up 2 points (0.1%) to 1,778.

The Indian government ordered import duties on refined palm oil and refined soybean oil reduced to 27.5%.