EMISSIONS: UK Energy Minister Backs Biomethane Exclusion in UK ETS

Trade and tariffs are likely to provide the subtext of a two-day G7 foreign ministerial meeting that gets underway in southern Ontario, Canada, today.  Along with G7 regulars, the foreign ministers of Australia, Brazil, India, Saudi Arabia, Mexico, South Korea, South Africa, and Ukraine will be in attendance.

• US Secretary of State Marco Rubio’s attendance will be the most high-profile trip by a Trump administration official to Canada since Trump terminated trade talks with Ottawa last month, claiming an advert funded by the provincial government of Ontario was aimed at influencing the outcome of a US Supreme Court case on Trump’s tariffs.
• Canadian Foreign Minister Anand said this week, “The work that Canada is doing is continuing to lead multilaterally in an era of a greater movement to protectionism and unilateralism. And in an era of economic and geopolitical volatility.”
• Anand is likely to use the meeting to improve the working relationship with Rubio. One potential route to renewing trade negotiations could be providing Washington with greater access to Canadian minerals, including rare earths. Recently, US President Donald Trump struck mineral agreements with Australia, Malaysia, Kazakhstan, and Uzbekistan; and pledged to expand rare earth processing operations with Japan and South Korea – moves aimed at addressing China's dominance of the global rare earth supply chain.
• “The expectations are quite low, but avoiding drama and fostering basic common ground on issues like Ukraine and Russia would be helpful” for Canada, an expert told WaPo.
• Ottawa may be bolstered by bullish comments from Trump in the Oval Office yesterday, suggesting that trade deals with India and Switzerland are close, two countries among the hardest hit by Trump’s tariffs.  

• Date $MM Issuer (Priced *, Launch #)
• 11/11 No new corporate supply Tuesday - issuers sidelined on Veterans Day holiday
• $19.95B Priced Monday
  • 11/10 $11B *Verizon: $2B +7Y +90, $2.25B +10Y +100, $1.5B 20Y +110, $3.25B 30Y +120, $2B 40Y +130
  • 11/10 $1.65B *Enterprise Products Op $300M 3Y Tap +43, $600M 5Y Tap+73, $750M 10Y tap +93
  • 11/10 $1.6B *Caterpillar $1.05B 3Y +37, $550M 3Y SOFR+58
  • 11/10 $1.5B *LyondellBasell $500M 5Y +145, $1B 10Y +185
  • 11/10 $900M *Mosaic $500M +3Y +77, $400M 5Y +92
  • 11/10 $750M *Flex $150M 7Y +105, $600M 10Y +130
  • 11/10 $750M *Plains All American $300M 5Y +102, $450M 10Y +142
  • 11/10 $700M *Carpenter Tech 8.25NC3.25 5.625%
  • 11/10 $600M *AutoNation +3Y +90
  • 11/10 $500M *Illumina WNG 5Y +105

• Private data provider Revelio Labs’ chief economist Lisa Simon speaks about the U.S. labor market -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com