European gas prices weakened again yesterday, still under pressure from the (slight) improvement in storage levels and weaker Asia JKM prices (-6.75% on the spot, to €79.920/MWh; -1.40% for the February 2022 contract, to €98.831/MWh; -8.71% for the March 2022 contract, to €76.897/MWh). On the pipeline supply side, Norwegian flows were stable yesterday, at 341…
Sometimes markets are fascinating (or despairing?). It was enough for the Fed Chairman to be reassuring about 1) the Fed’s desire to curb inflation and 2) its ability to do so without breaking growth (i.e. by raising rates to a minimum) for the equity market to rebound and for long rates to ease somewhat (the…
The European power spot prices continue to slowly fade yesterday, weighted by the rising renewable production. The day-ahead prices averaged 234.06€/MWh in Germany, France, Belgium and the Netherlands, -16.50€/MWh day-on-day and should continue to fall today as the German wind production is expected to surge above 20GW tomorrow. Another volatile session for carbon prices took…
The US economy added fewer jobs than expected in December, but the overall figures reflected a near-full employment situation with increasing wage pressures. The main elements of the December job report are summarised in this News, sent on Friday. This morning we learnt that Goldman Sachs now expects 4 rate hikes from the Fed in 2022. This is…
The year 2021 (and already a bit of 2022) in 10 charts 1 2021 was again a year marked by the pandemic but also by a recovery in inflation to levels not seen for 30 years. There are three main explanatory factors: ‒ energy prices (both a strong base effect due to their plunge in…
