To the question we asked yesterday “Can the optimism be confirmed?”, the equity markets have given a positive answer, especially in the US. However, there is nothing to say that it is definitive. But the event of the day occurred in Europe, where the German 10-year yield returned to positive territory for the first time in…
Spot and curve power prices took opposite paths on Friday, with mild and extremely windy weather weighing on short-term maturities whereas lingering geopolitical concerns over Russian gas supply to Europe continued to support longer-dated maturities. In the UK, wind power generation hit an all-time high this weekend, dragging spot prices for Saturday delivery to a…
European gas curve prices showed significant gains on maturities beyond WIN22 on Friday, still supported by political statements from the US over a blocking of the Nord Stream 2 pipeline in case of a Russian invasion of Ukraine and rising Brent and coal ARA prices. Overall, TTF ICE SUM 23 prices gained 9 euros week-on-week,…
Brent crude oil hit $91.7/b on Friday. It is only slightly lower this morning. Russia continues to mass troops on the Ukrainian border as the US prepares to vote on deterrent sanctions against the country and its wealthy citizens. A new missile from the Yemeni Houthi rebels was also fired against the United Arab Emirates…
The US equity markets ended the week with a bang, with the Nasdaq up 3.1%. Long-term rates are slowly rising (10-year US at 1.79%) and the USD is giving up some ground at 1.1170 against the euro. All this seems to confirm a decline in risk aversion. However, the Atlanta Fed President confirmed that a…
