In today’s briefing:
- Weekly News & Views – 2Q25 Earnings Recap
- China Vanke – Earnings Flash – H1 FY 2025 Results – Lucror Analytics
- Lucror Analytics – Morning Views Asia
Weekly News & Views – 2Q25 Earnings Recap
- LatAm credit markets ended the week mixed as the LatAm Aggregate Index widened to 280 bps while EM spreads and U.S. yields remained stable.
- In 2Q25 earnings, Vista, Minerva, and YPF delivered strong results supporting Overweight views, while Suzano, Cemex, and Telecom face spread constraints amid operational pressures.
- MercadoLibre’s growth remains solid but limited spread compression, and Pemex benefits from government support.
China Vanke – Earnings Flash – H1 FY 2025 Results – Lucror Analytics
- China Vanke’s H1/25 results remained weak, mainly due to operating losses at its property development segment.
- The property development gross margin continued to contract, as the company continued to deliver projects with high land costs.
- Earnings were also impacted by impairment charges amid persistent industry weakness, as well as fair value losses from asset disposals.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Vedanta Resources, JSW Infrastructure
- UST yields plummeted on Friday, led by the short end, as the market priced in greater rate-cut expectations after Fed Chairman Jerome Powell signalled openness (albeit he remained non-committal) towards interest-rate reductions.
- The UST curve bull steepened, with the yield on the 2Y UST falling 10 bps to 3.70%, while that on the 10Y UST declined 7 bps to 4.25%.
💡 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
