POWER: Vattenfall CEO Urges to Europe to Increase Transmission Capacity
Feb-06 09:01
Europe needs to increase its power transmission capacity to ensure energy security, Vattenfall's CEO...
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MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.6%
Jan-07 09:00
- MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.6%
- MNI: ECB 3-YEAR CONSUMER INFLATION EXPECTATIONS 2.4%
RATINGS: JPM See Potential Positive Action For Periphery, France & Belgium Risks
Jan-07 08:55
J.P.Morgan note that “2024 witnessed quite a few rating actions in the Eurozone, with several countries, particularly in the periphery, benefitting from improved outlooks and/or ratings upgrades whilst France, Belgium and Finland faced negative rating actions.”
- Looking ahead they write “for 2025, we expect limited rating actions on Euro area sovereigns, considering the modest fiscal tightening, ongoing easing from the ECB and the expected below potential economic growth in the region.”
- However, they acknowledge “decent risks of further negative rating actions on France and see some risks of negative rating actions on Belgium.”
- On the other hand, they also see “some upside risk (rating and/or outlook upgrades) for peripheral countries.” Namely, a “high likelihood of Moody’s upgrading Greece to IG in 2025 and decent chances (>=50%) of further upgrades in Cyprus (DBRS), Ireland (Moody’s) and Spain (Moody’s).”
- All-in-all, there isn’t much in the way of out of consensus views in the above, but the ideas do feed into many of the RV EGB plays recommended by desks through ’24 and into early ’25.
MNI: EUROZONE DECEMBER CONSTRUCTION PMI 42.9 (NOV 42.7)
Jan-07 08:30
- MNI: EUROZONE DECEMBER CONSTRUCTION PMI 42.9 (NOV 42.7)
