Some port stats/Tougher yen talk/That word 'choiceful' again/Other

Some good info from Lori Ann LaRocco in a CNBC online article on the importance of the Baltimore port where of course shipments are now going to get diverted for a period of time. It's the 11th largest port in the country and 52 million tons of foreign cargo, "worth some $80 billion were transported out of the port last year, according to Maryland Gov. Wes Moore." Of note, "The Port of Baltimore is the top American port for the import and export of autos and light trucks, as well as wheeled farm vehicles and construction machinery...Other top imports include sugar and gypsum." Also, "Top exports out of Baltimore include coal, natural gas, aerospace, parts, construction machinery, agricultural components and soybeans. It is the 2nd busiest port for coal exports after Hampton Roads, Virginia, according to Wolfe Research."

This all said, there is nothing long lasting here in terms of shipment diversion and delays to other ports but certainly uncertain as to when ships can start passing through Baltimore again after the debris has been cleared and when the bridge construction/rebuild begins. 

The tough talk on yen intervention took another amp up today. A few days ago we heard some verbal intervention from the deputy finance minister and the market yawned. Today the finance minister himself Shunichi Suzuki said "We are watching market moves with a high sense of urgency. We will take bold measures against excessive moves without ruling out any options" and the yen is moving somewhat. 

Also, a more hawkish member of the BoJ Naoki Tamura wants more rate hikes. He said in a speech, "The handling of monetary policy is extremely important from here on for slow but steady progress in normalization to fold back the extraordinarily large scale monetary easing." He followed this up later by saying "The continuation of an easy financial environment doesn't mean there won't be any more rate hikes at all." This was the most interesting comment he made, coming from an institution that has had its foot on the neck of interest rates for decades, "important to let market decide bond yields."