Everything is fine, but the decline in bond yields looks strange

US equities edged down after their strong rally, but European equities kept on increasing, even erasing all their pandemic losses. Risk appetite was supported by further fall in bond yields, the US 10y even trading 10bp below its peak of last week, which looks a bit strange given the economic news flow in the US. The IMF revised its global growth forecasts higher, even for the euro area. The EUR/USD rebounded further near 1.1880, which also looks a bit premature. The release of the Fed minutes this evening will be the main event for markets today with services PMIs in Europe.

world economic outlook imf april 2021
Share this news :

You might also read :

ES-gas
July 5, 2021

Global gas prices correct downwards

European and Asian gas prices retraced some of their strong gains recorded earlier in the week on Friday. Spot prices also weakened slightly on the…
ES-oil
February 3, 2021

US and Japanese crude stockpiles dwindles

Brent prompt futures continued to rally to 54.7 $/b on early Thursday as Saudi Arabia guaranteed that their voluntary supply cut would last two months…
ES-power
April 9, 2021

EUAs faded further amid weaker energy prices

The European power spot prices steadied yesterday, torn between forecasts of lower wind generation and weaker demand. The prices hence averaged 61.53€/MWh in Germany, France,…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]