The recent decline in the dry bulk index suggests that tighter emissions regulations on shipping vessel is unlikley to result in near-term cost distortions.

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Resources and financials make up the bulk of the Composite Index so without strong advances in those sectors, overall gains will be restrained.

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In the heyday for dry bulk shippers, the index reached highs of more than 11, 000, but quickly fell when the credit crisis struck in 2008.

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The Baltic Freight Index, which tracks dry-bulk freight rates, was at its lowest in nearly a decade in August.

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

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The bulk of the strength was in the output and new order index.

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The bulk of the widely tracked Barclays U.S. Aggregate Bond Index, for example, is loaded down with government debt, which currently suffers from low yields and high valuations.

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