In today’s briefing:
- Energy Absolute: Energy Limited
- Lucror Analytics – Morning Views Asia – November 26, 2024
Energy Absolute: Energy Limited
- EA’s Q3 results on 14-November was disappointing as expected on the declining EBITDA.
- Criat’s iRAP Global Plus PD Toolkit (iRap) still indicates the implied international credit rating of “B+” which gives us relative comfort for the credit.
- EA’s story rests on the usage of its network to extend debt maturity and sell assets, and not so much on cashflow which may be generated in the near term.
Lucror Analytics – Morning Views Asia – November 26, 2024
- Treasuries surged yesterday, with yields falling 10-13 bps across the curve after a strong auction of 2Y notes and in the wake of US President-elect Donald Trump’s nomination of Scott Bessent as the next Treasury Secretary.
- Mr Bessent is expected to implement Mr Trump’s tax cuts, while reducing the budget deficit and boosting GDP growth through deregulation and other pro-growth policies.
- The yield on the 2Y UST fell 10 bps to 4.27%, while that on the 10Y UST declined 13 bps to 4.28%.
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