EMISSIONS: IMO Carbon Levy Too Low To Incentivise Clean Fuel
May-02 07:39
The IMO carbon levy is set at €100/t, while BNEF stated that a price above €400/t is needed to drive a significant shift to clean fuel.
- The IMO carbon pricing mechanism could co-exist with other policy measures including the EU ETS and FuelEU Maritime.
- The European Transport Workers’ Federation (ETF) has previously called on the EU to align EU ETS and FuelEU Maritime Regulation with the newly adopted IMO global carbon pricing framework to avoid duplication, it said.
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NZD: Testing a new intraday high
Apr-02 07:36
- The Kiwi is still leading against the Dollar in G10, NZDUSD tests a new intraday high, but a 1 pip at a time move, very gradual.
- As noted on the European Cash Govie Open, next resistance is eyed at 0.5773.
- The Yen has pared some early losses, as Yields edged lower, led by the German Bonds.
- Cable is now the early worst performer albeit by a tiny 0.11%, and continues to trade well within Yesterday's 1.2880/1.2941 (low/high) range, now at 1.2907.
STIR: SFRZ7/Z8/Z9 Fly Still Trading
Apr-02 07:34
SFRZ7/Z8/Z9 butterfly sees another ~2K trade at -1.5, small offer remains.
STIR: SFRZ7/Z8/Z9 Fly Lifted
Apr-02 07:32
SFRZ7/Z8/Z9 butterfly paper paid -1.5 on 4K, triggering action in related and surrounding spreads.
