The ECB meeting had little impact on markets. The reduction in bond purchases was not even discussed Mrs. Lagarde said. The European markets welcomed the news, but Wall Street plunged after a Bloomberg news according to which a big tax hike on capital gains is included in the next economic package of the White House.…
The European power spot prices dropped further yesterday as the wind output is expected to continue surging today, although the forecasts of slightly colder temperatures (except in France) may have limited the losses. Prices reached 57.83€/MWh on average in Germany, France, Belgium and the Netherlands, – 5.79€/MWh day-on-day with prices ranging from 45.90€/MWh in Germany…
European gas prices were mixed again yesterday, torn between the opposite effects of warmer weather and higher storage injection needs due to weak stock levels. The increase in Asia JKM prices and parity prices with coal for power generation (thanks to strong EUA prices) provided some support, particularly for curve prices, but profit taking contributed…
Crude prices continued to edge lower, at 65.2 $/b, for ICE Brent prompt contract, as reported inventories in the US showed small builds in crude inventories. Markedly lower implied demand created builds across products. The health situation in India continues to be closely followed and monitored by market participants, especially by looking at Indian buying…
Equity markets rebounded yesterday, but bond yields fell to a new five-week low, which tends to suggest this is a fragile reprieve, mainly bases on corporate earnings that were expected to be good anyway and lower bond yields precisely. But the situation has not suddenly changed on the pandemic front and remains very worrying. The…
