FINWIRES · TerminalLIVE
FINWIRES

SocGen's Overnight Economic News Summary

By

Societe Generale in its early Tuesday economic news summary pointed out:

Brent -0.5% to US$82.8/barrel, VIX down to 16.2, United States Treasury and German Bund yields consolidate, Federal Reserve pricing for December 2026 steady at 20bps, European Central Bank pricing stabilizes at 31.5bps. Qatar, UAE, Egypt to attend G7 meeting on Tuesday, the U.S. may release details of the Iran agreement before Friday.

Bank of Japan hikes by 25bps to 1.00%, the highest since 1995, repeats will continue to raise the policy interest rate and adjust the degree of monetary accommodation if the outlook presented in October is realized. USD/JPY flat at 160.29. 10-year Japanese government bond yield +6bps at 2.645%.

Reserve Bank of Australia leaves CRT on hold at 4.35%, didn't consider raising rates, still upside risks to inflation. Will do what it considers necessary to achieve price stability, including increasing CRT further if required. AUD/USD -0.45% to 0.7050. Three-year Australian government bond flat at 4.43%.

China activity data disappoints again in May: retail sales -0.6% year over year, first decline since December 2022. Industrial production accelerated to 4.5% year over year. FAI year-to-date (YTD) decline deteriorated to -4.1% YTD. Property investment slump worsened to -16.2%.

Day ahead: ECB speakers Esciva, Lane and Sleijpen. Germany ZEW survey. U.S. import and export prices. United Kingdom benchmark auction. Chile's central bank forecast to stay on hold at 4.50%. Poland's core consumer price index.

Nikkei +0.1%, EUR 10-year IRS unchanged at 3.01%, Gold -0.6% at US$4,315/oz.

Related Articles

Treasury

NeoGenomics Reports Convertible Notes Offering

NeoGenomics (NEO) said late Monday it has launched an offering of $275 million of convertible senior notes due 2032.The company said it plans to grant the initial buyers a 13-day option to buy up to $41.25 million of additional notes.

$NEO
Treasury

High Tide Shares Jump 15% After Hours as Its Fiscal Q2 Profit and Record Revenue Top Estimates

High Tide (HITI.V, HITI), up 15% at look in after-hours Nasdaq trading, after the cannabis retailer on Monday said it swung to a fiscal second-quarter profit on record revenue, with both earnings and sales exceeding analyst estimates.The company reported a profit of C$24,000, or C$0.01 per share, in the quarter ended April 30, compared to a loss of C$2.8 million, or C$0.04, in the prior-year period. FactSet expected a loss of C$0.02 per share in the last quarter.The company reported record revenue C$179.3 million for the period, compared to C$137.8 million during the same period last year, an increase of 30% year-over-year, the fastest growth rate in 11 quarters. It exceeded FactSet analysts' consensus estimate of C$171.2 million.High tide's adjusted EBITDA stood at record C$13.9 million in the second quarter. This was up 73% compared to last year, marking the fastest growth rate in nine quarters, and up 21% sequentially despite there being three fewer days in the quarter, the company said."Our second quarter results highlight the strength of High Tide's diversified growth strategy and our ability to execute at a high level across multiple geographies. Through the continued integration of Remexian, we have expanded our supply chain capabilities, eliminated unnecessary intermediaries, and are procuring biomass at materially lower costs than Remexian could on its own, enabling us to achieve key operational and financial objectives approximately 90 days ahead of our internal expectations," said chief executive Raj Grover.In its outlook, the company reiterated its long-term goal of surpassing 350 retail locations nationwide and opening 20-30 locations in calendar 2026, mostly through organic growth, while also evaluating supplemental M&A opportunities of varying sizes. It also anticipates "significant" growth in its white-label portfolio and expects sales of its higher-margin white-label brands to reach approximately 20% of total sales.The results come after High Tide earlier Monday said it is taking yet another step to expand its bricks-and-mortar retail cannabis operations, by entering into a definitive agreement to acquire J. Supply Holdings Inc., operating as Northern Helm, resulting in High Tide's acquisition of four of the six retail cannabis stores currently operated by Northern Helm in Ontario for $7.74 million. These acquisitions will bring High Tide's total store count to 228 Canna Cabana locations across Canada and 103 in the province of Ontario.Separately, High Tide said it had secured credit approval for a loan agreement with Bank of Montreal in respect of new senior secured credit facilities in the principal amount of C$40 million. Closing of the new credit facilities remains subject to the satisfaction of customary closing conditions and upon closing, will replace the company's existing senior credit facility.Shares of the company were trading up US$0.33 to US$2.58 at last look on Nasdaq, after closing down C$0.05 to C$3.18 on TSX Venture Exchange.

$HITI.V
Treasury

US Treasury Closing Levels

3:00 Monday vs 3:00 Friday2yr 99-28 vs 99-26; 4.064% vs 4.085%5yr 99-23 vs 99-19; 4.186% vs 4.213%10yr 99-07+ vs 99-03; 4.469% vs 4.487%30yr 100-14+ vs 100-12; 4.969% vs 4.974%2/10 40.278 bps vs 39.965 bps5/30 78.141 bps vs 75.998 bps