US retail sales posted a strong rebound in January while industrial activity remained solid. This can only reinforce doubts about the relevance of a recovery plan as massive as the one the White House wants to put to the vote. This can only fuel inflation expectations as well. The spread between inflation expectations in the…
The European power spot prices slightly decreased yesterday, weighed by forecasts of higher wind output and milder weather. Prices eroded 2.48€/MWh to reach 49.73€/MWh on average in Germany, France, Belgium and the Netherlands. The French power consumption continued to ease with the warming temperatures and faded to 67.99GW on average on Tuesday, -4.72GW day-on-day. The…
Prices rebounded yesterday in most European gas markets, supported mainly by the sharp drop in Norwegian flows (304 mm cm/day on average, compared to 338 mm cm/day on Monday) due to an unplanned outage at the giant Troll field. Russian flows on their side were stable, at 315 mm cm/day on average. Additional support came…
Brent prompt future contract climbed to 63.6 $/b on early Wednesday, as the Texan energy crisis continues to wreak havoc on the state’ oil infrastructure. With the whole Midwest region is also affected by cold temperatures, losses in refining capacity are estimated at 4 mb/d in the US. Japanese crude stocks fell amid a rise…
The fall in bond prices is accelerating, which means bond yields are on the rise. The US 10y reached 1.33%, 42 basis points above its level at the start of the year. They are good reasons for that: the fall in global Covid cases, especially in the US, the vaccination campaign and prospects of strong…
