OPEC+ maintains its production policy for November
Crude prices rallied yesterday, as OPEC+ members met to decide their forward production policy for November. Dec-21 ICE Brent contract reached 81.6 $/b on early…
The impact of the Fed meeting is still being felt in the markets: inflation expectations have crashed (see the Graph of the day) and bond yields have followed, the US 10y falling below 1.4% overnight. The USD continued to strengthen. The EUR/USD pair plunged below 1.19. In parallel, equities plunged as well. This is the whole reflation trade that seems to be called into question.
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