Ever higher

Global stocks continue to rise and so do commodity prices and bond yields, while the Bitcoin is nearing $50000. Risky assets are pushed higher by a mix of confidence in the future economic recovery and speculation in a context of over-abundant liquidity. The reopening of US financial markets will test this optimism today. The EUR/USD is almost stable near 1.2130-40.

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NWE spot baseload power prices were up yesterday, to €118.879/MWh on average for today delivery (compared to €112.274/MW for Wednesday), supported by forecasts of lower…
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