EU UTILITIES: REN: 1H25 Results

Jul-25 11:10

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(RENEPL; Baa2/BBB/BBB+) Credit neutral. * EBITDA little changed YoY. * FCF was 140m, 50m 2Q. * Rep...

Historical bullets

CROSS ASSET: Bund and European Equities are extending losses

Jun-25 11:09
  • The German Bund Futures is still leading to the downside, nothing fast, and more of a gradual move.
  • European Equities are also under some pressure, VGU5 is making an attempt at Yesterday's low, and while this is not a good technical steady for this contract, a push down to 5270.00 would close Yesterday's gap, in a sense the ceasefire announcement's Rally.
  • Estoxx picks up pace, short term play long Positions are bailing out on the back of the VGU5 breaking Yesterday's low.

MNI: US MBA: MARKET COMPOSITE +1.1% SA THRU JUN 20 WK

Jun-25 11:00
  • MNI: US MBA: MARKET COMPOSITE +1.1% SA THRU JUN 20 WK

PIPELINE: Corporate Bond Roundup: SEK, Honda, Czech Group on Tap

Jun-25 10:57
  • Date $MM Issuer (Priced *, Launch #)
  • 06/25 $750M #Resolution Life 10Y 6.75%
  • 06/25 $Benchmark Swedish Export Cr 2Y SOFR+35
  • 06/25 $Benchmark Honda 3Y +90a, 5Y +100a, 10Y +120a
  • 06/25 $750M Czechoslovak Grp 5.5NC2 7%a (dual currency w/ E500m)
  • $17.15B Priced Tuesday, $31.6B/wk