In today’s briefing:
- Good Morning Japan | Smoking Hot Services PMI Sinks Equities; WCup: Japan Out on Penalties
- Uranium: Asymmetry at its Finest
Good Morning Japan | Smoking Hot Services PMI Sinks Equities; WCup: Japan Out on Penalties
- Good Morning Japan: We strive to provide the best macro, stock and thematic overnight news that impacts your trading day in Japan. FOLLOW/LIKE TO KEEP ABREAST.
- OVERSEAS: Service PMI print sinks equities; China: Green shoots continue to emerge with COVID policy; SPAC market unravelling; TESLA refutes China production cut news
- JAPAN: Out on Penalities- Samurai Blues exit the WCup; Markets: NKY Futs -0.5% vs Cash, USDJPY down to ¥136; Rating Changes: U/G to Kuraray, NTN; D/G to Softbank, Takeuchi
Uranium: Asymmetry at its Finest
- What you need to know: We are expecting demand for uranium to scale upward over the next 5+ years due to decarbonization and energy security trends
- Limited brownfield projects and the lack of incentive for greenfield projects at $50/lb U3O8 will create a supply/demand imbalance
- The new utility contracting cycle and Sprott Trust will continue to create price momentum for spot uranium While demand for uranium continues to progress higher due to shifting government policies to meet decarbonization goals and the newfound focus on energy independence, spot prices remain too low to incentivize new production.
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