Tough time for EDF
The European power spot prices remained overall stable yesterday amid little change in fundamentals. The day-ahead prices averaged 203.56€/MWh in Germany, France, Belgium and the…
US inflation reached 5% in May, its core component touching its highest level since 1992 at 3.8%. Yet, the market remains convinced this is only temporary. The Fed will meet next week, but the ECB announced it would prolong its extra purchases of bonds, which reinforced the market’s conviction that the Fed would also keep a dovish stance. The US 10y bond yield has fallen below 1.45%. The EUR/USD exchange rate is almost stable, below 1.22.
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