Prices supported by emergency measures taken by Germany
European gas prices increased yesterday, supported by the additional measures taken by Germany to tackle the gas crisis. Indeed, Germany has declared an “alert” notice,…
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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