HALISTER: Coca-Cola Says James Quincey to Succeed Muhtar Kent as CEO

Coca-Cola Says James Quincey to Succeed Muhtar Kent as CEO

(Bloomberg) -- Coca-Cola says COO James Quincey to succeed Muhtar Kent as CEO, effective May 1, 2017.
  • Kent will continue as Chairman of the board
  • Statement:Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
KO US (Coca-Cola Co/The)

People
James Quincey (Coca-Cola Co/The)
Muhtar Kent (Coca-Cola Co/The)

Topics
Management Changes
Who's News - People

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UUID: 7947283

(2) *COCA-COLA CO. SAYS JAMES QUINCEY TO SUCCEED KENT AS CEO

*COCA-COLA CO. SAYS JAMES QUINCEY TO SUCCEED KENT AS CEO

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

Tickers
KO US (Coca-Cola Co/The)

People
James Quincey (Coca-Cola Co/The)
Muhtar Kent (Coca-Cola Co/The)
Warren Buffett (Berkshire Hathaway Inc)

Topics
Management Changes
Who's News - People

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UUID: 7947283

HALISTER1: ECB Policy Easing Has Peaked, Last Important Technical Tweak: DB

ECB Policy Easing Has Peaked, Last Important Technical Tweak: DB

(Bloomberg) -- Unless there is a significant political event, ECB’s “soft taper” puts conditions in place toward end-2017 for bank to confirm further tapering, Deutsche Bank strategists led by Francis Yared write in note.
  • Reduction in pace is “more relevant” than extension of QE as it signifies a “clear reduction” in total purchases
  • Recommends short 10Y France vs UST as peak in ECB policy easing is bearish for EUR rates
    • Japanese buying of French sovereign debt may slow significantly given less likelihood of central bank driving eurozone yields lower, UST and JGB yields higher
  • Maintain Buxl ASW tightener given wider spreads from collateral concerns, expected reduction in duration of future QE purchases
  • Maintain German 10s30s steepener as impact of QE flows suggests curve is currently 20bp too flat
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)

People
Francis Yared (Deutsche Bank AG)

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UUID: 7947283

HALISTER1: EU CREDIT OPEN: Primary Open; Altice Unit’s IPO, SoftBank Tech

EU CREDIT OPEN: Primary Open; Altice Unit’s IPO, SoftBank Tech

(Bloomberg) -- Primary activity to continue today with sub investment grade Carlson Wagonlit’s 3-part EUR/USD deal pricing. It’s possible some opportunistic deals could emerge following the ECB’s QE extension and subsequent risk on sentiment.
  • Sharp rate curve steepening post ECB may favor front end of credit curve, both in terms of outright yield and total return; EUR 2s/10s currently 115bps (+11bps Thursday)
  • European IG credit pipeline here, leveraged finance pipeline here
  • Bloomberg Barclays Eur-Agg Corporate index closed Thursday at 123bps (-1bps); Bloomberg Barclays Eur HY index closed at 394bps (-4bps)
  • CDX IG closed Thursday at 68.22 (-0.5bps); iTraxx Asia Ex Japan IG is currently -0.1bps at 118.51 and iTraxx Australia quoted -2.2bps at 102.33
NEWS
  • Corporate News
  • Ferrovial Said to Be Interested in 4 Brazil Airports: Expansion
  • Altice Explores Possible IPO of Minority Stake in U.S. Unit
  • Centrica to Invest GBP180m in Energy Storage, Power Generation
  • SoftBank’s $100 Billion Tech Fund Opens HQ in London’s Mayfair
  • Financial News
  • StanChart Names Hoornweg Global Head of Financial Markets Unit
  • DBS Confirms Hong Kong Investigation After Media Report
  • ICBC Plans 10b Yuan Debt-To-Equity Swap With Shandong Gold
  • Rating News
  • S&PGR Downgrades Ensco To ‘BB’; Outlook Negative
  • S&PGR Downgrades Astoria Energy To ‘BB-’; Outlook Stable
  • Other News
  • Wall Street’s Old, Unwanted Bond Salesmen Find a Home in Chicago
  • Some ECB Governors Said to Have Pushed for 12-Month QE Extension
ANALYST VIEWS
  • With risks in EUR credit remaining skewed to the downside even beyond the short-term perspective, the CSPP-parachute surely maintains its value; we hence reiterate our call that CSPP names should constitute the staple of the low-beta diet we prescribe for 2017: Commerzbank
  • From a fixed income investors performance (outlook) perspective for 2017 there is no disaster in the ECB’s latest attempt at manipulation of the markets... policy stays easy and accommodative through 2017. We get a steeper yields curve so the banks get a leg up (as) longer- dated yields move higher but in measured fashion: creditmarketdaily.com
  • NOTE: Simon Ballard is a credit strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283