The Baltic Dry Index (BDI) reversed a two-day gain, sliding 63 points (-2.19%) to 2,815, its lowest since July 31, as falls in capesize and panamax freight outweighed higher supramax rates. The Capesize Index (BCI) dropped 138 points (-3%) to 4,452, lowest since July 31; capesize daily earnings fell $1,250 to $36,872. The Panamax Index (BPI) fell 51 points (-2.3%) to 2,155, lowest since Aug. 3; panamax daily earnings declined $462 to $19,391. The Supramax Index (BSI) rose 3 points (0.2%) to 1,63

US housing starts slowed in July, falling 12.4% to a 1.24 mln annualized pace versus a 1.35 mln survey expectation. Single-family starts dropped 9.9% to 808k, the lowest since November 2022. Multifamily starts fell nearly 17% after a prior surge. The pullback highlights difficulty for the US housing market to regain momentum amid rising mortgage rates since the Iran war outbreak and elevated home prices. Residential investment made a small positive contribution to Q2 GDP — the first in 2024 — but gains were modest. Outlook for starts remains unclear.

Asian equities were set to open lower after US losses as rising oil prices raised inf concerns and hopes for an end to the US‑Iran conflict dimmed. Futures for Australia, Japan and Hong Kong fell on Tuesday. Market participants are focused on oil and government bond yields for signs of a sustained inf shock that could push up Fed rate expectations and pressure high‑valuation stocks. US 10‑year Treasury yields rose above 4.7% and remain elevated despite last week’s subdued inf data, a persistent headwind for investors, said Matt Maley, chief market strategist at Miller Tabak+Co.