Baring the sharp drop in Chinese equities due to the crackdown against education companies, equities have remained almost stable yesterday. Slight moves on the bond market and a very limited weakening in the USD too. To answer the question, it is not summer break yet, as there are many key economic indicators on the agenda…
The power spot prices for today rose to levels similar to Friday amid forecasts of mixed fundamentals with a weaker renewable generation expected to be offset by an improved French nuclear availability and lower power demand. The day-ahead prices hence reached 88.88€/MWh on average in Germany, France, Belgium and the Netherlands, +0.59€/MWh from Friday. The…
ICE Brent September contract traded at 73.3 $/b on early Monday, on a backdrop of declining US bond yields, depressing the price of risky assets such as Asian equities and commodity prices. On Friday, we learned more about last Monday’ sell-off which shaved 7% off on most oil futures after regaining slowly their values throughout the week. Indeed,…
European gas prices were mixed on Friday, torn between (slightly) more comfortable spot fundamentals and ongoing strong Asia JKM and parity prices with coal for power generation. On the pipeline supply side, Russian flows rebounded to 271 mm cm/day on average on Friday (compared to 162 mm cm/day on Thursday) as the Nord Stream 1…
Record-high level for US equities on Friday, but strong downward correction in Asia overnight, after Chinese authorities announced a broad set of reforms for private education companies “hijacked by capital”. They will be banned from making profits, raising capital or going public. These measures are coming in the wake of a broader campaign against the growing…
