EnergyScan

The reflation trade takes a break

At least the movements on the financial markets were consistent yesterday. Equity markets were down and even sharply down in Europe. In parallel, after an initial increase nevertheless, bond yields registered a marked fall, the US 10y touching a 5-week low (price at a 5-week high). In a context dominated by risk aversion, the USD regained some ground: after having touched 1.2080, the EUR/USD exchange rate fell back towards 1.2030. The empty economic agenda puts the focus on the deterioration in Covid data, especially in India. Japan is adopting emergency measures for the umpteenth time in the main cities as well. The situation in Europe has started to improve very gradually, which will not allow a quick reopening of the economy.

 
the-reflation-trade-takes-a-break
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-gas
June 10, 2021

Curve prices extended gains

European spot gas prices were up again overall yesterday, supported by an additional tightness on supply. Indeed, Norwegian flows dropped significantly yesterday to 150 mm…
ES-oil
October 11, 2021

Electric spillovers

Futures crude markets continued to rise on early Monday, with WTI crude prompt prices nearing 81 $/b at the prompt while ICE Brent futures climbed…
ES-oil
November 3, 2021

Diverging inventories?

Crude markets remained supported, ahead of the OPEC+ meeting, despite inventory builds reported by the API survey. Indeed, crude inventories grew by 3.6 mb, while…
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?  Sign up here!

[booked-calendar]