Is the Fed Chairman, who announced a radical transformation of the central bank’s missions in the summer of 2020 aimed at prioritising the objective of full employment over inflation control, becoming the Paul Volcker of the 21st century, the one who will wage a merciless battle against inflation, as in the early 1980s? Each of his…
The European power spot prices for today slightly decreased compared to Friday, pressured by forecasts of higher solar and hydro production and slightly lower gas prices, although the weak nuclear availability and stronger demand expected in France pushed the country’s price up. The day-ahead prices averaged 221.26€/MWh in Germany, France, Belgium and the Netherlands ,…
Brent 1st-nearby is approaching $112/b this morning. Concerns about Russian oil flows have been compounded by a new episode of tension in the Middle East, with attacks by Yemeni Houthi rebels on oil facilities in Saudi Arabia. There were at least 6 attacks over the weekend. One might add, almost anecdotally, that the number of active…
Many equity markets have just recorded their best week since 2020 with gains of around 6%. The “fear index”, the VIX, has fallen back below the level it was at before the start of the Russian offensive in Ukraine, long rates are at their highest levels for nearly 3 years in the United States, 4 in…
European gas prices were mixed on Friday, torn between comfortable spot fundamentals and fears on the evolution of Russian flows in the coming weeks (they were slightly up to 214 mm cm/day on average, compared to 211 mm cm/day on Thursday. The resilience of Asia JKM prices (spot prices dropped by 0.32%, to €110.091/MWh; May…
