HALISTER: Intesa Examining Possible Industrial Combination With Generali

Intesa Examining Possible Industrial Combination With Generali

(Bloomberg) -- Intesa Sanpaolo says opportunities, including possible industrial combinations with Assicurazioni Generali, are currently being examined by the Bank’s management.
  • Confirms it is interested in industrial growth in areas of asset management, private banking and insurance in synergy with its banking networks, including through possible international partnerships
  • Link to Statement:Link
  • NOTE: Earlier;
    • Intesa Investor Herro Says Generali Deal Inconsistent With Plans
    • Intesa-Generali Megadeal Speculation Prompts Scrutiny, Confusion
    • Generali Jumps on Report Intesa Plans to Mount Takeover Bid
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ISP IM (Intesa Sanpaolo SpA)
G IM (Assicurazioni Generali SpA)

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UUID: 7947283

(2) *INTESA EXAMINING POSSIBLE INDUSTRIAL COMBINATION WITH GENERALI

*INTESA EXAMINING POSSIBLE INDUSTRIAL COMBINATION WITH GENERALI

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
ISP IM (Intesa Sanpaolo SpA)
G IM (Assicurazioni Generali SpA)

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UUID: 7947283

HALISTER1: Fed Not Likely to Shrink Portfolio as Much as Some Fear: CS

Fed Not Likely to Shrink Portfolio as Much as Some Fear: CS

(Bloomberg) -- Credit Suisse analysts led by Praveen Korapaty say they’re “skeptical” that Fed’s balance sheet will shrink as much as some may expect, based on maturity schedule of SOMA portfolio alone.
  • Fed can return balance sheet to a “steady state,” made up of all USTs, by simply letting MBS run off, Korapaty said in phone interview on Tuesday
    • CS estimates a steady state of ~$2.5t based on projections for Fed liabilities; this is roughly the size of UST portfolio at present
  • “The Fed’s stated longer-term goal is to move back to an all-Treasury balance sheet, and one way to get that is to let MBS run off”
  • To extent that end of reinvestments draws closer, “markets will have to prepare and that may lead to some re-pricing in term premia”
    • For now, “even though the duration of the Fed’s portfolio is passively declining, as long as the balance sheet’s size stays the same, we don’t think it has any tightening effect”
  • In note Monday, Korapaty and others wrote that CS continues to like “selling gamma on longer tails,” recommends rolling short TY straddles from February to March contract; also takes profits on TY 1x2 call spreads it had previously recommended
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Praveen Korapaty (Credit Suisse Group AG)

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UUID: 7947283

HALISTER1: Flagship Credit Auto Trust 2017-1 - DBRS Presale Report

Flagship Credit Auto Trust 2017-1 - DBRS Presale Report

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

People
Chris Donofrio (Dbrs Inc)
Chris O'Connell (DBRS Inc)
Christopher D'Onofrio (DBRS Inc)
Maxim Berger (DBRS Inc)
Michael Ritter (ECFC Holdings Inc)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Investment Research
Reports

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UUID: 7947283