RENEWABLES: German Wind Output Forecast Comparison
See the latest German wind output forecast for base-load hours from SpotRenewables vs Bloomberg’s ECMWF model for the next seven days as of Friday afternoon.
- Both models have similar wind forecasts over 1-2 March and 4-6 March and 8 March, with the smallest deviation on those days at between 0.12-0.91GW.
- The largest deviation is seen on 9 March as ECWMF expects wind to rise at a much slower pace from 8 March compared to SpotRenewables. The deviation on that day is 17.32GW.
Despite these differences, both models suggest wind to be on a general upward over 1-5 March before being on a general downward trend over 6-7 March and rebounding over 8-9 March.
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EQUITIES: U.S. Indices Off Lows As DeepSeek AI Provides Low Accuracy Score
E-minis finding a bit of a base as RTRS reports that “Chinese AI startup DeepSeek's chatbot achieved only 17% accuracy in delivering news and information in a NewsGuard audit that ranked it tenth out of eleven in a comparison with its Western competitors.”
- NASDAQ 100 futures ~40 points off lows, but still ~45 points lower on the day.
US: Commerce Sec Nominee Lutnick's Senate Nomination Hearing Underway Shortly
US President Donald Trump's nominee to serve as Secretary of Commerce, Howard Lutnick, is shortly due to appear for a nomination hearing before the Senate Commerce Committee. LIVESTREAM
- Commerce chair, Senator Ted Cruz (R-TX), said in a statement Lutnick, "will play a key role in unleashing unprecedented innovation and ensuring our nation’s job creators are well equipped to expand opportunities for good-paying jobs.”
- Democrats reportedly intend to discredit Lutnick by questioning conflicts of interest that could undermine his trade portfolio and highlighting alleged connections to Tether, “the go-to cryptocurrency of the criminal world,” per Bloomberg.
- Markets will be looking for any clues on Trump's tariff agenda, particularly in light of recent comments from Treasury Secretary Scott Bessent hinting at a more restrained approach to tariffs.
- Lutnick is widely seen as one of the more hawkish members of Trump's trade team. He has suggested that tariffs could in part replace income tax and has aligned himself with trade counsellor Peter Navarro and USTR nominee Jamieson Greer - two of the most dogmatic proponents of tariffs in the administration.
- The WSJ reports: "Lutnick and deputy chief of staff Stephen Miller have been advocating for a tariff-first, talk-second approach when it comes to targeting Mexico and Canada as soon as this weekend with a 25% levy..."
- While Lutnick is expected to clear the confirmation process comfortably, Democrats may seek to delay the process as long as possible in response to recent Trump executive actions.
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