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 :

October 21, 2021

Diesel carries the most upside risk

ICE Brent crude futures continued to be supported, at 85.2 $/b for the Dec21 delivery, as stocks data in the US and the ARA region surprised to…
February 24, 2022

Putin launches offensive against Ukraine

Early this morning, the Russian President announced the launch of a military operation to assist the separatist republics of the Donbas and overthrow the Ukrainian regime.…
April 21, 2022

Finally some movement on the carbon market

The European power spot prices remained steady from the previous day yesterday amid mostly unchanged fundamentals, the day-ahead prices averaging 199.30€/MWh in Germany, France, Belgium…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?