The market opened firm, especially for YR-08 and YR-09, and the rest of the forward curve also strengthened. However, the fundamental situation is still quite bearish, which makes it hard to lift the front end of the curve.
The buy side was described as a bit aggressive this morning, and the market has come off again from the top. “The market is consolidating, but seems a bit cautious. Some players probably tried to trigger some stop losses for the short traders, but it is hard to keep the front end up. The year contracts are firm, though, due to the carbon market,” a Norwegian trader says.
Mittwoch, 22.11.2006, 11:01 Uhr
Redaktion
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