This week’s newsletter brings you some exciting updates. There is a special C6 Power update. We also have the Market Sentiment Tracker that gives the reader a holistic picture of what is going on across the world. Monday Macro View dsicusses World Bank’s latest update while we also share perspectives on the fracking industry.
1. Monday Macro View: Global Growth at Weak Levels – PREMIUM
The World Bank’s Global Economic Prospects (GEP) report for June 2024 presents a cautiously optimistic outlook for global growth, despite underlying challenges and risks. According to the report, global growth is projected to stabilize at 2.6% this year, holding steady for the first time in three years. This stabilization comes amid geopolitical tensions and high interest rates, with a slight uptick to 2.7% expected in 2025-26 due to modest improvements in trade and investment.
2. C6 Power Update June 24 – FREE
C6 Infrastructure Partners is in a prime position to capitalize on the changing power market by continuing their acquisition of hydroelectric assets at significant discounts. Mark and his team are addressing the shortfalls by acquiring power-generating assets across the Northeast, Midwest, and Southeast. He emphasizes sustainability through projects that generate free cash flow, avoiding the pitfalls of heavily subsidized, non-viable projects.Read the full report in the link above!
3. NINE Energy’s Perspective in Q1: Key Takeaways – PREMIUM
Nine’s operations in the natural gas-heavy basins like Northeast, Haynesville, and the Eagle Ford are likely to witness low utilization, which can pull down its operating profit in the near term. NINE’s forward EV/EBITDA multiple compared to the current EV/EBITDA is expected to contract more steeply than its peers. Why is this happening and what is the overall outlook for fracking industry? Find out by reading this very insightful update by Avik Chowdhury!
4. Market Sentiment Tracker: China Recovers, US sending mixed signals – PREMIUM
According to recent data, 80% of the world population is expected to experience slower growth compared to the pre-COVID decade. In the U.S., 46% of Americans view the economic conditions as “poor,” with only 22% describing them as “excellent” or “good.” Story for Europe remains the same – some positive, some negative developments. The UK’s GDP remained flat in April, following a 0.4% month-on-month rise in March, reflecting stagnation in economic growth. The China Purchasing Managers’ Index (PMI) has fallen to a three-year low of 49.5, indicating contraction. New export order subindex also dropped to 47.2 in May from 50.6 in April, suggesting weaker international demand.
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