CAPITAL GOODS: Parker-Hannifin (PH A3[P]/BBB+/A-): 3Q25 Results
May-01 15:17
- Parker Hannifin reported revenue in line with consensus, with 1% organic growth.
- Adj. EBITDA beat by 2%, with record EBIT margins at 26.3%.
- YTD FCF reached $2bn.
- FY25 organic sales guidance reduced from 2% to 1%. Adj. EBIT margin guidance increased 10bp and FCF increased marginally.
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FED: US TSY 14D AUCTION: NON-COMP BIDS $129 MLN FROM $50.000 BLN TOTAL
Apr-01 15:15
- US TSY 14D AUCTION: NON-COMP BIDS $129 MLN FROM $50.000 BLN TOTAL
CAD: Risk-on Phase Boosts CAD to Session Highs
Apr-01 15:14
Latest phase of risk-on is providing some solid support for equities and growth-tied FX, evident in the clearance of earlier highs for NASDAQ-100 futures and strong reversal off highs for USD/CAD.
- These Carney comments are largely a restatement of his position: more tariffs on Canada will mean more retaliatory tariffs - but speculation remains over whether Canada (and Mexico) could be granted some reprieve under the USMCA agreement - however this remains to be seen, and subject to confirmation from Trump's Rose Garden appearance at 4pm local (2100BST) tomorrow.
- Such a reprieve for CAD (and MXN) over other nations would be CAD positive, and may be playing out in the CAD strength over e.g. GBP in recent trade - which has reverted back to 1.85 into the London close.
STIR FUTURES: BLOCK: SOFR Calendar Fly
Apr-01 15:13
Earlier SOFR Block post at 1043:51ET:
- +5,000 SFRM6 96.62
- -10,000 SFRZ6 96.64
- +5,000 SFRM7 96.595
