Concern about the emergence of a new Covid variant

With markets slowing down due to Thanksgiving in the US, news of the rapid diffusion of a new variant (B.1.1.529) in South Africa and neighbouring countries has spread like wildfire and has already had notable consequences: a sharp decline in Asian equity markets and a fall in bond yields, with the US 10-year down to 1.54%. Curiously, the dollar does not seem to be benefiting, but it would be curious if this were not the case in a context of renewed risk aversion: the EUR/USD exchange rate remains slightly above 1.12 for the moment.

The UK has already placed 6 southern African countries on a red travel list and the EU may quickly do the same. The major concern in Asia is the presence of this new variant in Hong Kong where several cases have been identified and the uncertainty about the effectiveness of existing vaccines to deal with a possible new wave. 

Otherwise, there is little news on a strictly economic level. German import prices accelerated to +21.7% yoy in October. Such figures no longer seem to surprise anyone.

Share this news :

You might also read :

ES-power
December 3, 2021

EUAs continued to surge toward 80€/t

The power spot prices were mixed yesterday in northwestern Europe, down in Germany and the Netherlands on stronger wind forecasts, flat in Belgium due to…
ES-oil
April 8, 2021

Builds across US refined product markets

Despite dwindling US crude inventories, global crude prices fell on Wednesday and remained below 63 $/b for prompt ICE Brent contracts, as surprise builds in US gasoline…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet? 

[booked-calendar]