Sharply higher home prices in the US. Consumer confidence is waning
The yearly growth rate in home prices is close to a 15-year high in the US and consumer confidence is showing signs of weakening. US…
ICE Brent prices reversed to 72.6 $/b, as the dollar surged against other currencies, due to the more hawkish US macro policy outlook. Interestingly, time spreads at the prompt climbed higher during this event, still valued at 80 cents at the prompt, as fundamentals were not affected by macroeconomic policy. WTI-Brent spreads reversed slightly but we remain constructive on this spread.
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