In today’s briefing:
- HEW: Hard Data And Deferred Decisions
- [ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles
- Collapse of Homeplus & More Bankruptcies of PE Owned Companies Globally [A Prelude to Big Short II?]
- CX Daily: Tsinghua Program Shows the Challenges of Nurturing World-Class Mathematicians
HEW: Hard Data And Deferred Decisions
- The latest UK labour market report shows ongoing resilience in hard data compared to soft data, with policymakers focusing more on hard strength to avoid decision-making being influenced by negative factors. Easing cycles are evolving beyond expected outcomes.
- The upcoming UK Budget is not exempt from the prevailing uncertainty, with potential deferrals of some unlikely spending cuts being more about political convenience.
- UK inflation data for February is expected to be relatively stable, with Monday’s Flash PMIs also anticipated to draw attention.
[ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles
- For the week ending 14/Mar, U.S. crude inventories rose 1.7m barrels (vs. expectations of 0.8m build), gasoline stockpiles fell below expectations, and distillate inventories declined more than anticipated.
- US natural gas inventories rose by 9 Bcf for the week ending 14/Mar, more than analyst expectations of a 3 Bcf build. Inventories are 10% below the 5-year seasonal average.
- Barclays cut Exxon’s price target to USD 135 from USD 137 with an Overweight rating, while Citigroup lowered Occidental’s target to USD 51 from USD 56 with a Neutral rating.
Collapse of Homeplus & More Bankruptcies of PE Owned Companies Globally [A Prelude to Big Short II?]
- We discuss an emerging concern in the global financial markets which is that many high-profile PE owned companies around the world are increasingly experiencing bankruptcies or near bankruptcies.
- The excessive leverage that MBK has tried to use on Homeplus has backfired due to higher interest rates, greater competition from Emart/Coupang, COVID-19, and lower buying power from asset sales.
- Although it may be premature to declare these bankruptcies/near-bankruptcies to be a prelude to the next Big Short 2, they indeed raise so many alarming bells.
CX Daily: Tsinghua Program Shows the Challenges of Nurturing World-Class Mathematicians
- Math / In Depth: Tsinghua program shows the challenges of nurturing world-class mathematicians
- Consumption /: Chinese consumers are more confident and willing to spend, survey shows
- EVs /: Tariff turmoil roils Chinese electric-bus maker’s Mexico plans
Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
Unlock all research summaries