US NATGAS: New England – Canadian Imports drop to Near Zero
May-01 12:58
- AGT (non-G) Citygate settled at $2.65 mmbtu, down $0 mmbtu d/d.
- Total Demand into New England is 2.24 bcf/d, up from 1.77 bcf/d which is 26.28% d/d.
- The latest GFS 15day forecast for Boston has total HDDs at 61 which is a decrease of 10 HDDs compared to the previous run. And is 64 HDDs warmer than the 10yr normal.
- Bloomberg has end user demand is 465 mmcf/d higher on the day, comprised of 42% power demand, 43% residential and commercial demand, and 15% industrial demand.
- Power demand increased by 197 mmcf, ResCom demand increased by 188 mmcf, and Industrial demand increased by 81 mmcf d/d.
- Canadian imports are down 20 mmcf/d to 87 mmcf/d today, this compares to the 7-day average of 144 mmcf/d. Effectivley non-existent.
- LNG supply from Everett remains at 0 mmcf/d.
- Operational utilization at the Chaplin compressor station on AGT is up 32 mmcf/d showing 659 mmcf/d, or 66% operational capacity, compared to the 7day average of 646 mmcf/d.
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MNI: US REDBOOK: MAR STORE SALES +5.3% V YR AGO MO
Apr-01 12:55
- MNI: US REDBOOK: MAR STORE SALES +5.3% V YR AGO MO
- US REDBOOK: STORE SALES +4.8% WK ENDED MAR 29 V YR AGO WK
EQUITIES: BNP put spread
Apr-01 12:49
BNP (19th Dec) 76/60ps, sold at 6.1 in 2.5k.
INFLATION: EUR 5Y5Y Inflation Swaps Back To Lowest Since Fiscal Shift
Apr-01 12:42
- As noted earlier, Eurozone STIR markets have reversed the hawkish reaction seen on yesterday’s Bloomberg ECB sources piece, aided in part by the Washington Post’s report on potential for 20% tariffs as part of broader concerns ahead of tomorrow’s reciprocal tariffs announcement.
- Yesterday’s hawkish reaction helped stop what had been a modest rise in 5Y5Y inflation swaps (~2bps to 2.125%), although currently at ~2.10% they have reversed that climb along with today’s rates rally.
- It leaves 5Y5Y inflation swaps at what would be the lowest close since the Mar 4 German and EU fiscal announcements, having been at 2.05-2.075% in the days shortly beforehand.
- Those fiscal plans saw idiosyncratic adjustments in EU long-term inflation swaps, narrowing the US-EUR spread from levels closer to 40bps to 16bp on Mar 5. Daily gyrations have more recently shifted back to seeing greater correlation with those in the US though, with a US-EU spread at 30bps +/- 3bps over the past week and a half.
