Baltic Dry Index slipped from a one-month high, down 51 pts (-1.71%) to 2,929 as capesize demand eased. Baltic Capesize Index (BCI) fell 157 pts (-3.3%) to 4,594; capesize average daily earnings dropped $1,420 to $38,163. Baltic Panamax Index (BPI) rose 7 pts (0.3%) to 2,258; Panamax daily earnings increased $65 to $20,325. Baltic Supramax Index (BSI) gained 10 pts (0.6%) to 1,720, its highest since Aug 2022. Baltic Handysize Index (BHSI) eased 3 pts to 906.

Fed Chair Kevin Warsh told a Senate hearing he is "not satisfied with any inf indicator", saying recent data may not fully reflect underlying inf. He said the labor market looks strong but inf is less encouraging, and the Fed will review its tools — including the balance sheet and rates — to assess whether adjustments are needed to address inf.

Standard Chartered chief strategist Eric Robertson said we have entered an era of structurally higher interest rates. He said US rates are unlikely to return to zero and that rates in Europe and Japan have also risen. A key long-term implication will be tighter capital allocation—financing costs of 4–5% will force stricter project selection compared with a zero-rate environment. He added this does not imply capital scarcity: tens of trillions of dollars remain parked in US money-market funds and alternative asset managers hold large pools of capital.