Prices maintained their short term downtrend
European gas prices dropped significantly yesterday, still pressured by above-normal temperatures and more comfortable supply. Norwegian flows rebounded to 337 mm cm/day on average yesterday,…
Inflation expectations continue to decline and the US 10y bond yields is back below 1.6%. Reassuring comments from Fed members yesterday about the transitory nature of inflationary tensions reinforced the trend and fueled risk appetite. US consumers may express more concerns through the Conference Board survey that will be released today, while the IFO survey should confirm optimism about the recovery reigns in Germany today. The EUR/USD exchange rate is on the rise, well above 1.22 now.
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