European prices down
European gas prices weakened on Friday, more sensitive to warmer weather than to relatively weak pipeline supply. Indeed, while Norwegian flows continued to recover, averaging…
Still very calm financial markets overall with limited variations on the stock market and no big moves on the FX market either. The EUR/USD exchange rate is trading near 1.2075, just as it was yesterday morning. However, the US 10y bond yield has rebounded to 1.64%, its highest level for more than 2 weeks. The bond market is cautiously positioning itself before the Fed meeting, just in case there is a nasty surprise, such as the mention of a reduction in bond purchases. This is probably too soon and things should be back to normal tonight.
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