(2) *LINDE TO RESUME TALKS WITH PRAXAIR; APPOINTS BELLONI AS CEO

*LINDE TO RESUME TALKS WITH PRAXAIR; APPOINTS BELLONI AS CEO

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

Tickers
LIN GR (Linde AG)
PX US (Praxair Inc)

People
Aldo Belloni (Linde AG)

Topics
Management Changes
Who's News - People

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UUID: 7947283

HALISTER1: S&P 500 to Reach 2,424 in 2017 With Oil Above $70: Piper Jaffray

S&P 500 to Reach 2,424 in 2017 With Oil Above $70: Piper Jaffray

(Bloomberg) -- Investors should stay bullish on stocks and oil while bearish on Treasuries, with 10-year yields likely to rise to 3.00%-3.25% next year, Piper Jaffray technical analyst Craig Johnson writes in a note.
  • Sees reflation trade continuing as investors prepare for economic shift from monetary to fiscal policy
  • Johnson downgraded utilities to underweight from neutral, citing “significant deterioration in relative strength” while upgrading transports to neutral from underweight amid cyclical rotation
  • Views indicators such as NYSE A/D line, MicroGroup A/D line, 26-week new highs confirming broad market participation
  • While acknowledging “lengthening odds”, Johnson sticks to call for S&P 500 to hit 2,350 by year-end 2016
  • At Tuesday’s close, S&P 500 was at 2,212.23, 10y yields at 2.39%, oil at $50.93
  • NOTE: Earlier, U.S. Equity Newsletter-Writer Bulls Rise Higher Into Danger Zone
    • Dec. 2 Bloomberg survey of strategists showed average estimate for S&P 500 in 2017 was 2,317
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Craig Johnson (Piper Jaffray Cos)

Topics
S&P 500 Stock Market Moves

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UUID: 7947283

HALISTER1: South Africa May Miss Deadline to Pass Anti-Money Laundering Law

South Africa May Miss Deadline to Pass Anti-Money Laundering Law

(Bloomberg) -- Threat of Financial Action Task Force measures as bad as downgrade to credit ratings, National Treasury’s Head of Tax & Policy Ismail Momoniat tells lawmakers in Cape Town.
  • “If the bill is not passed then other countries would be less likely to provide information that we need to prosecute South African criminals who take their funds out of South Africa,” Momoniat said, adding that the FATF could terminate South Africa’s membership, making it difficult to tackle illicit cross-border financial movements
  • Parliament to hold public hearings on Financial Intelligence Centre Bill in late January, while FATF deadline mid- February; based on that, bill can only be passed on Feb. 21 at earliest, Finance Committee Chairman Yunus Carrim tells lawmakers
  • NOTE: President Jacob Zuma returned Financial Intelligence Centre Act Amendment Bill to Parliament earlier this month saying that provisions for searches being conducted without a warrant were unconstitutional
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Yunus Carrim (Republic of South Africa)

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UUID: 7947283

HALISTER1: BTP-Bund Tests 153BPs Support and Congestion Zone; 55-DMA Lurks

BTP-Bund Tests 153BPs Support and Congestion Zone; 55-DMA Lurks

(Bloomberg) -- Recent tightening of Italy-Germany 10-year yield spread may pause as it tests the 153bps Fibonacci target support, Bloomberg technical analyst Sejul Gokal writes.
  • Support also contained within a busy price activity area at 156-153bps
  • See chart; spread now -3bps at 154bps
  • Though daily MACD stays bearish, proximity of supports and tomorrows ECB meeting warrant caution on further tactical compression post-Italy “No” vote
  • 153-152bps represents 61.8% Fibonacci of Oct. 25-Nov. 28 widening phase and the 55-DMA
  • NOTE: Dec. 5, BTP-Bund May Narrow to 153Bps Support as Risk- Off Widening Fades
  • NOTE: Dec. 7, Bund/UST Spread-Narrowing Momentum Builds, Tests 201bps Hurdle
  • NOTE: Sejul Gokal is a technical 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