British Airways shows that airlines are unprofitable even while a declining oil price should help alleviate pressure on fuel costs. That Icelandic volcano's shutdown of European air travel certainly doesn't help.
Looks like Warren Buffett made a prescient move in buying BNSF. It's having a very healthy year so far. Logistics data ought to be taken a lot more seriously as a leading indicator of economic activity.
Institutional bond investors are discounting the possibility that earnings of Asian corporations will continue to deteriorate. This comes on the heels of continued U.S. consumer pessimism. It may further depress the value of ETFs like FXI and VWO.