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Daily Update — April 2, 2026

Record Renewables Output; Q2 Global Economic Outlook; and Private Market Signals

Today is Thursday, April 2, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.

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Energy Transition & Sustainability

Near-record week for European wind, solar power output

 

European wind and solar power generation had a near-record week in the seven days to March 29, according to system data analyzed by Platts, a part of S&P Global Energy. Wind output rose by about one-third week over week to average nearly 90 gigawatts, with Germany and the UK setting new peak records, preliminary data from WindEurope and Elexon’s Balancing Mechanism Reporting System showed. Combined wind and solar output across the EU reached 18.4 terawatt-hours for the week, the highest during spring and the third-highest overall, according to European Network of Transmission System Operators for Electricity data aggregated by the Fraunhofer Institute for Solar Energy Systems ISE.

 

Volatile supply from wind and solar, alongside demand swings and overall elevated gas prices, are shaping hourly power prices, with large fluctuations ranging from negative hours during periods of oversupply to spikes above €200 per megawatt-hour during evening peaks, according to exchange data. Wind is forecast to fall sharply from April 1, before surging April 4–5, according to data from spotrenewables.com.

Economy

Global Economic Outlook Q2 2026: Middle East War Dents The Forecast

 

The Middle East war has materially affected S&P Global Ratings’ global macro outlook, neutralizing previously expected upsides to growth. Before the US-Israel strikes on Iran in late February, 2026 GDP growth was expected to rise between 0.25 and 0.50 percentage point for many countries due to strong finishes in 2025, which created positive carryover. Moreover, S&P Global Ratings expected tailwinds from AI and data center build-outs, accommodative financial conditions, a fiscal boost in some large economies and low energy prices. Only the first of those remains. Upward revisions to growth are now largely off the table and the risks have shifted to the downside.

 

The war that began Feb. 28 has led to the largest energy supply shock on record. The Strait of Hormuz remains effectively closed, constraining about 15%-20% of global oil and gas supplies, or about 15 million barrels per day. Most of this fuel is destined for East and South Asia. Partial relief has been found through two regional pipelines that bypass the strait and through the release of global reserves that the International Energy Agency coordinated, but a significant shortfall remains.

Private Markets

Listen: Resilient Growth, Shifting Capital: Macro Signals for Private Markets in 2026

 

In this episode of the “Private Markets 360°” podcast, Nicholas Brooks, head of economic and investment research at ICG, joined hosts Chris Sparenberg and Christina McNamara to examine the macro signals shaping private markets in 2026. Brooks provided a data-driven perspective on where global private markets may be headed, sharing insights on resilience, risk and developments across regions and asset classes.

In case you missed it

  • A record number of electric vehicles leased in 2023 will return to the market in 2026, marking the first significant stress test for how the retail ecosystem absorbs late-model used EV supply.
  • Average delinquency and charge-off rates for the five biggest US credit card issuers remained stable in February, though both metrics ticked up from January for some lenders.
  • Mining M&A activity flipped in favor of base metals in 2025, supported by the $27.96 billion merger between Anglo American and Teck Resources. The total deal value reached $52.71 billion across 50 deals, with gold-related deals reaching a 15-year high.

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