ERCOT Cash – the last several days have been zestier than the past 30 days for sure…Load clearly over 62 gigs and unit trips make for volatile afternoon pricing…next week caught a bid as loads forecast near 66 gigs. PJM Cash – sleepy as temps across the ISO are mid-70s to low-80s – system is stable. ERCOT Forwards – Heat rates, and specifically summers, are up as cash loads increases – maybe short covering, maybe spec length – Cal 15: 11.45, Cal16: 11.47 and Cal 17: 11.47 PJM Forwards – Slight changes, but mostly unchged…Cal 15: $48.60, Cal 16: $47.10, Cal 17 $47.15 NG – catching a ride higher from last week -- tomorrow EIA day, expectations upper 80s to low 90s. Last year 96 build and 5 year average 48 Bcf build… CL – lower despite the draw on inventories and geo-politics. Maybe economic slowdown? Economy and Stocks - the markets have been on a bear slide lately – loads of cross currents to consider – GDP, employment, Russia and Ukraine, Iraq, Gaza Strip – it’s mind numbing…said best today, “Investors are trying to coordinate the fear of geopolitical concerns and how they affect the global economy with the improving U.S. economy and how that affects Fed monetary policy, said Art Hogan, chief market strategist at Wunderlich Securities” – from cnbc BITCOIN - $577 NG – $3.94** Crude - $96.85** SP500 – 1920.24 US 10-Yr – 2.473 Gold – 1306.90
Posted on: Wed, 06 Aug 2014 21:48:05 +0000
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