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2 weeks ago | 
smartkarma.com | Leandro Gubler
In today’s briefing:EM Spreads – Weekly News & ViewsEM Spreads – Weekly News & ViewsThe LatAm Aggregate Index contracted by 17 bps to 315 bps in the week ending Friday, May 16, 2025, and is now trading 26 bps below its 3-month average.
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1 month ago | 
smartkarma.com | Leandro Gubler
In today’s briefing:EM Spreads – Weekly News & ViewsEM Spreads – Weekly News & ViewsCemex 1Q25: Credit Strength Persists, but No Catalyst for Spread CompressionPemex 1Q25: Upgraded to Market Perform, but Structural Risks PersistYPF and Globant Sign Agreement to Modernize Supply Chain with AI💡 Before it’s here, it’s on Smartkarma✓ Unlimited Research Summaries✓ Personalised Alerts✓ Custom Watchlists✓ Company Data and News✓ Events & Webinars
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1 month ago | 
smartkarma.com | Leonard Law |Leandro Gubler
In today’s briefing:Lucror Analytics – Morning Views AsiaEM Spreads – Weekly News & ViewsLucror Analytics – Morning Views AsiaIn today’s Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Greenko Energy, Vedanta Resources, Reliance IndustriesLast Friday, US Treasuries tightened by 5-8 bps across the curve. US equities continued to recover, albeit at a slow pace, with the S&P 500 up by 0.7% and Nasdaq rising 1.3%.
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1 month ago | 
smartkarma.com | Leandro Gubler
In today’s briefing: Weekly News & Views Weekly News & Views Argentina Secures US$20bn IMF Deal with Currency Controls Eased / Argentina: March CPI Surprise Adds Pressure Initiating Coverage on Telecom Argentina: Solid Market Position but Uncertain Outlook / Mercado Libre Expands Regional Footprint with $9 Billion in 2025 Investments Across Brazil, Argentina, and Chile Minerva Announces Capital increase Backed by Sponsors / Mercado Libre Expands Regional Footprint with $9 Billion in 2025...
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2 months ago | 
smartkarma.com | Leandro Gubler |Leonard Law
In today’s briefing:Initiating Coverage on Telecom: Solid Market Position but Uncertain OutlookLucror Analytics – Morning Views AsiaInitiating Coverage on Telecom: Solid Market Position but Uncertain OutlookWe are initiating coverage on Telecom with a Market Perform recommendation. We view the notes as fairly valued considering the uncertainty surrounding the potential acquisition of Telefónica.
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2 months ago | 
smartkarma.com | Ankit Agrawal |Leandro Gubler |Rahul Jain
In today’s briefing:RPPL: Weak Q3FY25, However Medium-Term Outlook Is StrongEM Spreads – Weekly News & ViewsTata Steel (TATA IN): Scaling Up Domestic Operations, Easing EU DragRPPL: Weak Q3FY25, However Medium-Term Outlook Is StrongEarlier this month, RPPL announced a new factory to expand its thermoforming and extrusion capacity by 1250 MTPA and 1600 MTPA, respectively. This will come on-stream within a month.
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2 months ago | 
smartkarma.com | Leandro Gubler
In today’s briefing: EM Spreads – Weekly News & Views EM Spreads – Weekly News & Views Argentina’s $20 Billion IMF Deal Could Calm Markets Ahead of Midterms Pemex Monthly Report: February/Minerva Positioned to Benefit from China’s Shift in Protein Imports Cemex: Stable Outlook Affirmed Despite Hybrid Reclassification Dragging Metrics/ YPF Launches “Vaca Muerta Institute” to Support Shale Growth 💡 Before it’s here, it’s on Smartkarma ✓ Unlimited Research Summaries ✓ Personalised Alerts ✓...
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2 months ago | 
smartkarma.com | Leonard Law |Leandro Gubler
In today’s briefing: Lucror Analytics – Morning Views Asia China Oil & Gas – Earnings Flash – FY 2024 Results – Lucror Analytics Minerva 4Q24: Acquisition Outlook and Market Tailwinds Support Credit Upgrade Weekly News & Views – Mar 21, 2025 Lucror Analytics – Morning Views Asia In today’s Morning Views publication we comment on developments of the following high yield issuers: MGM China, Genting Berhad, Road King, Meituan, AAC Technologies In the US, Chicago Fed President Austan Goolsbee...
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2 months ago | 
smartkarma.com | Leandro Gubler |Leonard Law
In today’s briefing:YPF 4Q24: Macro Tailwinds and Strategic Progress Offset a Weak QuarterLucror Analytics – Morning Views AsiaYPF 4Q24: Macro Tailwinds and Strategic Progress Offset a Weak QuarterWe maintain our Outperform recommendation on YPF. Shale Expansion, Export Capacity Growth Key to Long-Term PerformanceYPF posted weak 4Q24 results. Adjusted EBITDA dropping 38.6% QoQ and 22.5% YoY to $839 million, missing consensus by 19.7%.
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Feb 27, 2025 | 
smartkarma.com | Leonard Law |Trung Nguyen |Trung Nguyễn |Leandro Gubler
In today’s briefing:Perusahaan Listrik (PLN) – Tear Sheet – Lucror AnalyticsLucror Analytics – Morning Views AsiaVista Energy 4Q24: Solid Expectations Despite Short-Term Cost HeadwindsPerusahaan Listrik (PLN) – Tear Sheet – Lucror AnalyticsWe view Perusahaan Listrik Negara (PLN) as “Low Risk” on our LARA scale, primarily driven by the company’s strategic importance to Indonesia and SOE status (100% owned by the government).
