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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CONSUMER CYCLICALS
Volvo Cars (VOLCARB SS); we wrote on this on Weds following the announcement of the potential stopping of funding for Polestar, a credit positive; the cash curve has started to move but still wider YTD.
- Mgmt indicated at results it was looking to sever funding ties with Polestar and the press is reporting it will examine selling its stake in Polestar to the parent, Geely.
- We also noted the liquid ’25 line (VOVCAB 2 01/24/25) was still trading wide relative to Stellantis (see graphic) and wider YTD. The equity is now up almost 40% from the lows of mid Jan-24 and the credit is failing to close this gap.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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