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Summary While European and Asian natural gas prices have fallen significantly from their recent peak, they remain at exceptionally high levels. High Eurasian natural gas prices are having both short-term and long-term effects. If the trend toward lower costs for alternative en...
Summary On 16 August 2022, President Joe Biden signed into law the IRA. The COVID-19-related global supply chain disruptions, extreme weather events, rising inflation, and the Russia-Ukraine crisis have pushed the cost of capital to record highs. Meanwhile, in China, surging c...
Summary The energy market has certainly had a very positive year so far. FTSE All World Oil, Gas & Coal is up 20% YTD (to end August), 39% ahead of the broader FTSE All World Equity Index. Looking more broadly across asset classes, whilst energy equities were strong (and less ...
Summary The clock is ticking for Europe to shield its economy in the current energy crisis. One of the measures being touted is imposing an energy windfall tax on oil and gas profits to help households and businesses survive this upcoming winter season. As Europe plans to redu...
Summary It is not clear what a new market design would look like, but many politicians have called for price caps, albeit in many different forms. The merit order ensures that the cheapest technologies enter the market first but implies that the price is set by the most expensive ...
Summary Although consumers are benefiting from robust labor markets and strong balance sheets, they appear reluctant to buy high-cost durable goods. A key to navigating inflation risk is understanding its relationship with asset class returns. Historically, high-inflation episodes...
Summary The first half of the year saw GDP contract slightly and GDI expand slightly, and I interpret that as little to no growth. The money market futures I follow and the market based models I track all put the peak in rates somewhere between March and June of next year. I d...
Summary Core CPI, excludes food and energy, rose from July's year-over-year reading of 5.9% to a YoY rate of 6.3% in August. FedEx reported dismal earnings on Friday sending the stock down 21%. A large part of the economic data seems to be indicating the economy is slowing. ...
Summary Officials at the world's major central banks, led by the US Fed, grew increasingly united in their resolve to bring inflation under control. The August about-face pulled the Europe ex UK and both US Russell indexes back down to the bottom of the performance ranks for the y...
Summary UK prime minister Liz Truss announced a price cap on natural gas to shelter households from the 80% increase scheduled for next month and more price resets slated for January and April 2023. With no action, UK inflation could easily have topped 15% this year. With the cap,...
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Barclays Bank PLC iPath Series B Bloomberg Natural Gas Subindex Total Return ETN Company Name:
GAZ Stock Symbol:
NYSE Market:
Natural gas prices have soared to record highs this year due to a global energy crunch. Furthermore, because the EIA anticipates prices will remain high, at least through year’s end amid below-average inventories and rebounding demand, natural gas ETFs should benefit. We believe natura...
Barclays Bank PLC (“Barclays” or the “Issuer”) announced a temporary reduction of the minimum early redemption size of certain series of ETNs as specified in the table below (together, the “ETNs”). Currently holders of the ETNs are required to redeem...