According to The Kobeissi Letter, the Cass Freight Index fell 7.8% year-over-year in August to its lowest level since 2020, highlighting persistent softness in US shipping activity, source: The Kobeissi Letter. According to The Kobeissi Letter, the index tracks North American freight shipments and is regarded as one of the most important indicators of US shipping activity, source: The Kobeissi Letter. According to The Kobeissi Letter, traders monitor this macro indicator for context on goods demand and overall risk sentiment when positioning across markets, source: The Kobeissi Letter.