EUAs eroded early gains on falling equities
The power spot prices surged near 300€/MWh in northwestern Europe yesterday, lifted by forecasts of a wind surge combined with a strong demand and higher…
The impact of the Fed meeting is still being felt in the markets: inflation expectations have crashed (see the Graph of the day) and bond yields have followed, the US 10y falling below 1.4% overnight. The USD continued to strengthen. The EUR/USD pair plunged below 1.19. In parallel, equities plunged as well. This is the whole reflation trade that seems to be called into question.
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