Lael Brainard who was expected to take over as head of the US Treasury and may be the next Fed chief was the first Fed member to express worries about a too quick rise in bond yields. It could delay the reduction in the pace of asset purchases she said, which helped calming down renewed…
As expected, the European power spot prices continued to rise yesterday, lifted by forecasts of weaker wind output and French nuclear availability. Prices reached 53.30€/MWh in France, Germany, Belgium and the Netherlands, +3.73€/MWh dod. The French power consumption strengthened by 2.85GW from Friday to 59.41GW on average. The nuclear production fell by 3.91GW to 39.21GW…
European gas prices increased yesterday, more sensitive to falling temperatures (which are now expected to briefly drop below normal during the weekend) to the rise in pipeline supply and the additional drop in Asia JKM prices. Indeed, Norwegian flows were up again yesterday, averaging 325 mm cm/day, compared to 318 mm cm/day on Friday. After…
Brent prompt future contract corrected lower, at 63 $/b, as demand-side worries emerged. The US dollar continued strengthening also lowered crude prices. Finally, the anticipation of an OPEC supply hike appears increasingly certain, potentially pushing crude oil in a market with limited refining demand thanks to the slow recovery of Texan refineries and slowing demand in…
Equity markets rebounded yesterday despite the parallel rise in bond yields, as the manufacturing PMIs and ISM all pointed to robust global activity. But the market sentiment turned down overnight after the top Chinese banking regulator expressed deep concerns about bubbles on overseas financial market and said the domestic property market was driven by “very…
