European curve prices down
European spot gas prices were mixed yesterday, torn between the bullish effect of the ongoing blockage of the Suez Canal and the bearish effects of…
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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