RE:Cost of borrowing going up?you have me confused....aren't interest rates on a downstrend? Now that inflation has come down my impression is the further declines are required to stimulate the economy. The perspective on whether stimulus is needed may vary be country. The expectation of simulative policy in the US might cool that need in that country, but I'm guessing that protectionist US policy might support further stimulus in other countries.
My impression of why NPI and others in the IPP sector are down today is a combination of uncertainty, and concern about interest rate stabilization (rather than increase). Concern about IRA and business environment in the US may be part of it but NPI only has a small proportion of its business in the US. So I can't see why NPI is having an outsized decline (relative to other IPPs such as INE and BLX)