LNG: Vietnam’s First LNG Power Plant to Start Operations in April: Reuters
Sep-26 07:35
Vietnam’s first power plant using solely LNG is expected to begin operations from April, five months behind schedule, Reuters said.
- A test run at the plant, Nhon Trach 3 in the southern province of Dong Nai, will begin in mid-October.
- The nearby Nhon Trach 4 plant is expected to start commercial power generation in July 2025, two months behind schedule.
- The plants are the first in a fleet of 13 LNG-fired plants that Vietnam aims to start up by 2030.
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BONDS: Continued tightening in Tnotes/Bund spread
Aug-27 07:28
- Tnotes/Bund spread is seeing continued tightening, with the latest leg lower helped following the Dovish Mr Powell.
- The spread, similar to what was witnessed yesterday, is at its tightest level in over a Year, since August 2023, and has broken below the 50% retrace of the 2023/2024 range.
- Next stop would see a test to 155bps, followed by 150bps, and ~144bps.
Chart source: MNI/Bloomberg
SWEDEN: July Input Price Data Supportive Of Optimistic Tone In Minutes
Aug-27 07:21
Swedish July input price data appears supportive of the sentiment from yesterday’s August meeting minutes, where Executive Board members cited diminishing upside risks to future inflation.
- The price index for domestic supply, which combines domestic producer prices and import prices (thus provides a better gauge of pipeline pressures than the headline PPI metric) was -0.5% Y/Y (vs 1.0% prior) and -1.5% M/M. Domestic electricity prices fell 0.7% M/M in July, pulling the headline rate lower.
- The strengthening of the SEK through July also aided input price disinflation/deflation.
- Domestic supply prices excluding energy were 1.9% 3m/3m (vs 2.7% prior) after accelerating in the 4 months prior, while consumer goods excluding food eased to 1.5% (vs 2.4% prior).
- Food input prices were 2.1% 3m/3m (vs 2.8% prior)
GILTS: Spreads dominate on the Open
Aug-27 07:08
- No surprises on the Gilt open, the Sep and Dec contracts are neck and neck in terms of volumes, spread is being bought on the open, and all the volumes are spreads related, already over 21k traded outright.
