HALISTER1: Grand Duchy of Luxembourg - DBRS Rating Report

Grand Duchy of Luxembourg - DBRS Rating Report

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

Tickers
1110Z LX (Grand Duchy of Luxembourg)

People
Adriana Alvarado (DBRS Inc)
Nichola James (DBRS Inc)

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

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER1: Ridge Trust, Series A Notes - DBRS Transaction 12 Summary

Ridge Trust, Series A Notes - DBRS Transaction 12 Summary

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

Tickers
1400Z CN (Ridge Trust)

People
Tim O'Neil (DBRS Ltd)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Investment Research
Issuer Focused Research

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER1: DBRS Large Canadian Banks 4Q16 Earnings Round-Up: Mixed but Still Solid Results; New Mortgage Rules

DBRS Large Canadian Banks 4Q16 Earnings Round-Up: Mixed but Still Solid Results; New Mortgage Rules

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

Tickers
BMO CN (Bank of Montreal)
BNS CN (Bank of Nova Scotia/The)
CM CN (Canadian Imperial Bank of Commerce)
NA CN (National Bank of Canada)
RY CN (Royal Bank of Canada)

People
Alan Reid (DBRS Inc)
Michael Driscoll (DBRS Inc)
Peter Stavropoulos (DBRS Ltd)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Fundamental Research
Investment Research

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER1: Real Rates ‘Still Far From Unsustainably Tight’: BofA

Real Rates ‘Still Far From Unsustainably Tight’: BofA

(Bloomberg) -- High correlation between Dollar Index and 10Y breakevens over past month indicates that the rise in rates has been “a policy catch-up trade,” rather than “a policy mistake trade,” BofA strategists Shyam Rajan and Carol Zhang say in note.
  • It suggests that “higher real rates with sideways breakevens is reasonable, especially given that real rates are still far from unsustainably tight levels”
  • Other key themes for 2017:
    • Foreign private demand for USTs will be curtailed by high FX hedging costs; domestic private demand should escalate led by pension and insurance community
    • Maintain small short bias in 5s after its dramatic cheapening
    • Forward 5s30s will approach 0bp with return of boom/bust cycle and normal hiking cycle
    • 30y swap spreads likely to be “much wider,” approaching 0bp, barring ultra-long UST issuance or “dramatically higher deficits”
    • 10Y real rates can rise another 25bp-30bps amid decline in reserve holdings, hawkish Fed, higher volatility, risk parity deleveraging and extended TIPS positioning
  • Technical analysis supports 3% target for 10Y yield, 4% for 30Y yield, strategist Paul Ciana says; 5Y has scope to 2.32%, possibly 2.5%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Carol Zhang (Bank of America Corp)
Shyam Rajan (Bank of America Corp)
Paul Ciana (Bank of America Corp)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: Politics Vie With Tapering for Biggest 2017 Driver of Euro Bonds

Politics Vie With Tapering for Biggest 2017 Driver of Euro Bonds

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
2539Z GR (European Central Bank)

People
Abhishek Singhania (Deutsche Bank AG)
Anton Heese (Morgan Stanley)
Fabio Bassi (JPMorgan Chase & Co)
Harvinder Sian (Citigroup Inc)
Ralf Preusser (Merrill Lynch International)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER: Chipotle Names 4 Directors in Pact With Pershing Square

Chipotle Names 4 Directors in Pact With Pershing Square

(Bloomberg) -- Chipotle names four new directors, effective Dec. 14, in pact with Pershing Square Statement Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
CMG US (Chipotle Mexican Grill Inc)
PSH NA (Pershing Square Holdings Ltd/Fund)

Topics
Management Changes

To de-activate this alert, click here

UUID: 7947283

(2) *CHIPOTLE NAMES 4 NEW DIRECTORS; ENTERS PACT WTH PERSHING SQUARE

*CHIPOTLE NAMES 4 NEW DIRECTORS; ENTERS PACT WTH PERSHING SQUARE

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

Tickers
CMG US (Chipotle Mexican Grill Inc)

People
Alex Kozinski (United States Court of Appeals for the Ninth Circuit)
Ali Namvar (Pershing Square Capital Management LP)
Anthony Kennedy (United States Supreme Court)
Antonin Scalia (United States Supreme Court)
Chris Arnold (Chipotle Mexican Grill Inc)

Topics
Management Changes
Who's News - People

To de-activate the "HALISTER" alert, click here
To modify this alert, click here

To de-activate the "HALISTER1" alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Housing Starts Due in 5 Minutes

U.S. ECO PREVIEW: Housing Starts Due in 5 Minutes

(Bloomberg) -- Housing starts seen retreating 7% in Nov. to 1.230m annual rate (forecast range 1.125m to 1.316m); tracks number of new units started during reference period.
  • In Oct. starts rose 25.5% to 1.32m pace, fastest since Aug. 2007; single-family and multi-family homes both advanced
  • Pace depends on impact from higher mortgage rates: Bloomberg Intelligence
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283