When the economic agenda is empty, markets look elsewhere and these day they see most of countries remaining in the grip of the pandemic and also political tensions on the rise. The US stock market registered its biggest downward correction in a month yesterday, while bond yields edged up. The recent behavior of the bond…
The power spot prices for today in north western Europe were strongly supported by the forecasts of weak French nuclear availability and solar production, and of a wind shortage. Prices reached 76.17€/MWh on average in France, Germany, Belgium and the Netherlands, +11.87€/MWh from Friday and +10.83€/MWh week-on-week. EUAs opened strong and hit a fresh record…
European spot gas prices were mixed on Friday. Although rising, temperatures are expected to remain below normal this week. Curve prices were more clearly up, supported by the strong rise in parity prices with coal for power generation (mainly due to the sharp rise in coal prices). On the pipeline supply side, Russian flows were…
ICE Brent prompt contract remained pegged to 66.5 $/b, as the dollar strengthened. Daily reported coronavirus cases in India were consistently above 200k. The US rig count edged higher by 7 units, as long-dated WTI prices also experienced a significant rise. This tallies with the increase in open interest for Brent contracts, as positive financial…
Equities and bonds are up at the same time, which likely reflects the fact that market participants remain optimistic about the economic recovery and the impact of vaccination campaigns, but look at the surge in new Covid cases in big countries such as Brazil and India with concern. There are also the raising tensions between…
