US State Department approved a possible sale of UH-60L Black Hawk helicopters and related equipment to Argentina, estimated at $140 million.

Strong demand at the U.S. $22 bln 30-year Treasury auction eased long-end pressure for a second straight day as the stop-out yield came in below traders’ expectations. BMO said primary dealer take-up fell to a record low, implying greater absorption by end investors. The 30-year yield fell most after the sale, retreating to about 5.33% from intraday highs but remained notably higher on the day; the 10-year was roughly unchanged at 4.924%. Short-dated Treasuries saw no lift from the auction and yields ticked up slightly, indicating the bid primarily relieved long-end selling pressure. Longer maturities remain pressured by U.S. fiscal deficits, elevated issuance and inflation concerns.

Zheshang Securities says domestic PDH units returned to profitability since June. PDH margins have turned positive and the long-term profitability baseline is likely to move higher, while the long-term propane price baseline is expected to trend lower. Propylene-equivalent consumption is forecast to grow steadily at about a 3% CAGR. Supply-side dynamics: co-produced (byproduct) propylene volumes have fallen, implying a structural long-term supply contraction; industry supply growth has slowed sharply, supporting an improved supply-demand balance. Monitor integrated, low-cost leaders with PDH capacity.