EM LATAM CREDIT: Geopark: Production Decline - Negative
(GEOPAR; NR/B+neg/B+)
"GeoPark Announces Second Quarter 2025 Operational Update" - Business Wire
Divestment, temporary blockades and downtown as well as expected reduced output led to an overall production decline.
This has been an ongoing trend in the Colombia fields and reserve replacement was supposed to come from the expected acquisition of Argentina Vaca Muerta assets but the deal fell through in mid May.
GEOPAR 2030s issued at USD100 in late January 2025 were last quoted USD89.20, down about 5 points since March 31st.
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Historical bullets
EQUITIES: US Program Buyer on the Open
- Program buyer on the Cash Open, 1499 names, the most since 27th May.
- Next Immediate resistance in SPX comes at 6059.40, last Week's high, and also the best printed level since February, the Index is now trading at 6021.42.
USDCAD TECHS: Southbound
- RES 4: 1.4200 Round number resistance
- RES 3: 1.4111 High Apr 4
- RES 2: 1.3861/1.4016 50-day EMA / High May 12 and 13
- RES 1: 1.3732 20-day EMA
- PRICE: 1.3542 @ 14:41 BST Jun 16
- SUP 1: 1.3535 1.0% 10-dma envelope
- SUP 2: 1.3503 1.618 proj of the Feb 3 - 14 - Mar 4 price swing
- SUP 3: 1.3473 Low Oct 2 2024
- SUP 4: 1.3410 1.764 proj of the Feb 3 - 14 - Mar 4 price swing
The trend needle in USDCAD continues to point south and fresh cycle lows last week and again today, reinforce a bearish theme. Support at 1.3686, the May 26 low and a bear trigger, has been cleared, confirming a resumption of the downtrend. This maintains the price sequence of lower lows and lower highs. Sights are on 1.3535 next, envelope-based support, and 1.3503, a Fibonacci projection.Resistance at the 20-day EMA is at 1.3732.
SONIA: Ratio Call Spread vs Put
0NU5 96.90/97.40cs 1x1.25 vs 96.10p, bought the cs for 0.5625 in 10k.
