TTF - EU NatGas prices jumped to a 6month high, up 30% on the week, still way lower than this time last year, a a good reminder that the EU energy crisis can pop back all too quickly >>> Finland on alert as gas pipe sabotage suspected
Fed speakers been sending a less hawkish message of late - done for now, maybe for good in this cycle, watch employment now, that's the key sign if/when market shift its intention to some sort of recession coming >>> Neel Kashkari isn't convinced that a surge in long-term Treasury yields lowers the need for added rate hikes. Raphael Bostic earlier reiterated that he sees no reason for more increases as policy is "sufficiently restrictive" to lower inflation to the 2% target. Christopher Waller said policymakers will "stay on the job" to make sure that happens
ECB's Knot: Policy is in a good place now, stand ready to adjust rates further IF disinflation stalled - Good Prospect To Get Inflation Back To 2% In Medium Term
BBG, Good news in agricultural markets, with rice prices already 10% down from their Aug peak. Panic by governments prompted the rally, but it looks like cooler heads are prevailing. Add to it much lower wheat prices (3-year low), and the fear of food crisis appears unfounded
"You get in this vicious circle, where higher interest rates cause higher funding costs, cause higher debt issuance, which cause further bond liquidation, which cause higher rates, which put us in an untenable fiscal position." -Paul Tudor Jones
Markets :
Equity markets going up by default, as Fed speakers go on hold and bonds rally, as always one can see stocks go up for the wrong reasons >>> SPX500 goes from the 200dma 4200 to the 100dma nearer to 4290 area within days..
USDollar attempted sell-off back to trendline (USD support) EUROUSD resistance near 1.0620 area, AUDUSD similar, most of it is same picture as usual, CABLE res near 1.2350 area
BONDS were most oversold last week... not anymore, that correction came thick and fast, now U.S CPI up next, for sentiment short-term, all expectations are for 3.6% YoY
EU Nat Gas is definitely something to watch, as for developments in the Middle-east, FED all but done bar any new news, message from Fed speakers been clear last few days
EU NatGas prices
