Although bond yields eased a little, equity markets continued their downward correction yesterday and the trend continued in Asia. The inflation rate in China eased to +0.8%, but producer prices continued to accelerate, which could make it difficult for the central bank to relax its measures restricting credit distribution. The ECB meeting is the event of the day. The…
The power spot prices hedged down yesterday in northwestern Europe, weighed down by forecasts of slightly lower power demand and higher wind and solar productions. The day-ahead prices reached 124.72€/MWh on average in Germany, France, Belgium and the Netherlands, -2.96€/MWh day-on-day. The carbon prices continued to mirror the gas market on Tuesday. The EUA Dec.21…
European gas prices extended gains yesterday. Russian supply rebounded, averaging 287 mm cm/day (compared to 278 mm cm/day on Monday), thanks mainly to the increase in flows through Poland to the Mallnow interconnection point, but they remained well below the levels of end August (313 mm cm/day). Norwegian flows were stable, at 282 mm cm/day…
After approaching $73/b yesterday, the price of Brent 1st-nearby fell sharply to $71.11/b, but is already back above $72/b. In short, the market seems to be without a clear direction, due to the many uncertainties surrounding it regarding the duration of the unavailability of supply and refining capacity in the southern US, the evolution of the pandemic and…
The continued rise in bond yields (1.37% for the US 10-year) reflects market nervousness ahead of tomorrow’s ECB meeting and the release of the Fed’s Beige Book this evening. At the same time, the rebound of the USD reflects both this nervousness, but also the possibility that the anticipated tightening of ECB policy will be lighter than expected. Japanese GDP growth was…
