HALISTER1: Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3 - DBRS Presale Report

Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3 - DBRS Presale Report

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

People
Erin Stafford (Dbrs, Inc.)
Kevin Mammoser (DBRS Inc)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Investment Research
Prov., Reg. Credit Research

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UUID: 7947283

HALISTER1: Fed Likely to Hold Off Raising Rates Until September: MS

Fed Likely to Hold Off Raising Rates Until September: MS

(Bloomberg) -- Odds of March rate increase are likely low as Fed looks for inflation pressures to build and fiscal policy to take hold before acting again, Morgan Stanley economist Ellen Zentner, strategist Matthew Hornbach, and others write Thursday.
  • “We expect the Fed’s engine to idle until September”; there isn’t much for Fed to do at Jan. 31-Feb. 1 meeting
    • NOTE: In Jan. 6 note, MS hadn’t ruled out a move in March
  • Policy makers will deliver “positive-sounding” and “benign” statement keeping fed funds rate unchanged at 0.5%-0.75% and risks to outlook as “roughly balanced”
  • Officials remain upbeat on outlook and this tone may be reflected in Feb. 1 statement, which could lead market probabilities for a March hike to rise
    • New data and risks of more upbeat FOMC statement should guide market-implied probabilities for action in March toward 50%; this should pressure short- and intermediate-maturity yields higher and lead to steeper 2s5s and 2s10s curves
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Ellen Zentner (Morgan Stanley)
Matthew Hornbach (Morgan Stanley)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: New Home Sales, LEI Due in 5 Minutes

U.S. ECO PREVIEW: New Home Sales, LEI Due in 5 Minutes

(Bloomberg) -- Sales of new single-family homes seen at 588k annual rate in Dec. vs 592k in Nov. (forecast range 550k to 625k); new home sales account for ~10% of residential market; tabulated when contracts signed.
  • Nov. sales pace was second-fastest since 2008; expected Dec. decline could be first indication higher mortgage rates restraining demand: Bloomberg Intelligence
  • Index of leading economic indicators seen rising 0.5% in Dec. after showing no change in Nov. (forecast range 0% to 0.8%); LEI measures economic outlook for next 3 to 6 mos.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Verizon Said to Be Exploring a Combination With Charter: WSJ

Verizon Said to Be Exploring a Combination With Charter: WSJ

(Bloomberg) -- Verizon is exploring a combination with charter, Wall Street Journal reports without saying where it got the information.
  • Efforts are preliminary and may not result in a deal
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
VZ US (Verizon Communications Inc)
CHTR US (Charter Communications Inc)

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UUID: 7947283

HALISTER1: Batista Allegedly Laundered $16.5 Mln Bribe Through Mine Deal

Batista Allegedly Laundered $16.5 Mln Bribe Through Mine Deal

(Bloomberg) -- Brazil has recovered about $85 million of more than $100 million under investigation in money laundering probe named “Efficiency”, police and prosecutors said at press conference in Rio de Janeiro Thursday.
  • Police have reached out to Interpol to find Batista
  • No confirmation Batista is on the run, or where he is
  • Batista’s lawyer has indicated the billionaire will turn himself in: Police
  • Some of $85m still abroad: prosecutors
  • Former billionaire Eike Batista allegedly paid former Rio governor Sergio Cabral bribes
  • Payment was allegedly laundered through transactions including a gold mine purchase, and Petrobras, Ambev and Vale shares
  • Evidence was collected through police searches and witness testimony
  • Police still looking for Batista to carry out preventative arrest
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
PETR4 BZ (Petroleo Brasileiro SA)

People
Eike Batista (EBX Group Co Ltd)

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UUID: 7947283