Hints and tips:
...Farhat Bengdara, chair of the Libyan National Oil Corporation since July, said he enjoyed support across the divided nation, which had allowed the Opec member to restore production to 1.2mn b/d....
...From Bloomberg: El Salvador returned to global debt markets with an offering that will pay investors a higher interest rate if the government fails to win credit upgrades or a deal with the International...
...The IEA forecasts crude consumption to increase by 1.3mn barrels per day this year while Opec this week maintained its growth estimates of 2.25mn b/d for 2024....
...of a libertarian/conservative flavour, and that (b) McKinsey is a consultancy with a strong incentive to say what its corporate clients want to hear....
...By 2030 EVs are forecast to displace 6mn barrels a day of global oil consumption, according to the International Energy Agency. Demand in 2023 was 102mn b/d....
...Around $1.2tn of fresh global private capital was raised in 2023, according to Preqin. Sure, this is less than the $1.5tn in 2022 or the $1.7tn of 2021. But still, 1.2 TRILLION DOLLARS!...
...(b) Returns implied by the stock market equal only est. half of Citi’s target. For those looking for a “margin of safety” for an investment—we believe Citi looks like a stock to own....
...But from a risk-return point of view, is credit risk attractive right now? Rieder: I’d say it’s a B-. But it’s not a C. Why are you getting these sorts of yields in credit today?...
...On paper, Timms’s background in arts and philanthropy make him a left-field choice to lead a firm that advises one-third of the FTSE 100 and a slew of international corporates....
...European Commission president Ursula von der Leyen pledged to defend Europe’s auto industry against cheap Chinese exports driven by subsidy-fed overcapacity....
...If a property crisis does emerge this time, credit analysts can at least say they told us so....
...Thanks for reading. — Jamie 1. Oil prices should be kept in check despite volatility It has been a bumpy start to the year for oil markets....
...And then you’d expect the 10-year part of the curve to be somewhere around 3.5 per cent, maybe a little bit lower....
...Russia said its 300,000 b/d export reduction would also stay in place until December....
...There’s a lot of companies in the double-B category that were downgrades from triple-B. They’re better companies. It’s a different high-yield than, say, 10 years ago ....
...Wall Street investment banks that financed last year’s leveraged buyout of tech company Citrix have lost roughly $1.5bn after selling off remnants of a deal struck as the era of cheap money was coming to...
...The core measure, excluding those volatile items, also fell from 5.7 per cent to 5.1 per cent. The data prompted a fall in the pound and a rise in UK stocks....
...The first shows the share of stocks with a p/b below 1, in blue, and below 0.7, in orange....
...On average, operators say they now need a WTI price of $62/b to profitably drill — up from $56/b last year....
...Yes, even Venezuela, which Platts believes is now producing almost 800,000 b/d....
...And I'd love to think that wasn't the case....
...The reason that’s bad is because a) it doesn’t usually work, and b) it just invites retaliation....
...Now, about 1,000 scientists, engineers and technicians at PMI’s vast R&D facility in Neuchâtel, work solely on development of reduced-risk products....
...It peaked in 2022 with 599 shows — meaning you’d have to watch 1.6 series a day to see all of them....
...However you measure it, something like half of Japan Inc trades under 1 p/b....
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