Traders in the growing weather derivatives market are positioning earlier than usual for a potentially mild Northern Hemisphere winter, as an unusually powerful El Niño raises expectations for warmer temperatures, according to a report by Bloomberg.
The US is emerging as the main focus for the trade. The Climate Prediction Center estimates there is a 75% probability that the current El Niño will exceed the strength of any event recorded since 1950, adding conviction to bets that the phenomenon c...
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