Analysing the European carbon market in 2006 was a bit like riding a roller coaster. At first, (almost) everyone believed the market to be short, and prices rose to over �30 per tonne. After the accidental and unco-ordinated release of emissions data for 2005, the market realised it was most likely long for Phase I (2005–2007) and so the market lost about two thirds of its value in a matter of weeks. Although prices shot back, they have been on a gradual decline towards zero since then.
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- VAR surges, revenues tank at French banks hurt by volatility
- A rush on Libor fallbacks to head off holdouts
- Swaps data: SOFR volume and margin insights