The yearly growth rate in home prices is close to a 15-year high in the US and consumer confidence is showing signs of weakening. US bond yields have continued to fall and the USD to weaken: the EUR/USD exchange rate climbed above 1.2250 and the highest level of the year so far (1.2349) may be…
European gas prices were mixed yesterday: rather bearish on the spot on the back of the increase in pipeline supply and the drop in Asia JKM prices, slightly up on the far curve thanks to the rise in parity prices with coal for power generation (both EUA and coal prices were up). On the pipeline…
ICE Brent prompt contract is recovered fully to 68.7 $/b, despite risks of mounting Iranian supplies, which could be delayed by few months, as Iranian and US officials mentioned that there was still significant roadblocks to clear. Indian mobility seems to have bottomed out for May, as mobility data experienced its low point two weeks…
The European power spot prices unsurprisingly rebounded yesterday as a consequence of the power demand returning to normal levels with the holiday now passed, although the still strong wind output and improved French nuclear availability expected today kept the prices below the clean gas and coal costs. The day-ahead prices climbed to 59.82€/MWh on average…
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…
