HALISTER1: BlackRock Says EM Assets to Benefit From U.S.-Led Reflation

BlackRock Says EM Assets to Benefit From U.S.-Led Reflation

(Bloomberg) -- Rising wages, nominal growth and inflation reinforced by an expected shift to fiscal stimulus – should be a big positive for many EM assets, BlackRock global chief investment strategist Richard Turnill writes in note.
  • Greater infrastructure spending should boost demand for the commodities exported by EM producers
  • EM currencies are weaker, current account balances appear in better shape and commodity markets have found better demand/supply balance
  • Prefers selected commodity-producers; wary of manufacturing countries susceptible to U.S. trade stance
  • Favors hard-currency EM bonds particularly in Russia, Colombia and Kazakhstan
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Richard Turnill (BlackRock Inc)

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UUID: 7947283

HALISTER1: Canadian Energy Services & Technology Corp. - DBRS Rating Report

Canadian Energy Services & Technology Corp. - DBRS Rating Report

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

Tickers
CEU CN (Canadian Energy Services & Technology Corp)

People
Moritz Steinbauer (DBRS Inc)
Ravikanth Rai (DBRS Inc)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Industry & Sector Research
Investment Research

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UUID: 7947283

HALISTER1: HERO Funding II 2016-4B - DBRS Presale Report

HERO Funding II 2016-4B - DBRS Presale Report

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

People
Charles Weilamann (DBRS Inc)
Lain Gutierrez (DBRS Inc)
Lain Javier Gutierrez (Dbrs Inc)
Maxim Berger (DBRS Inc)

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

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: ISM Non-Manufacturing Due in 5 Minutes

U.S. ECO PREVIEW: ISM Non-Manufacturing Due in 5 Minutes

(Bloomberg) -- ISM non-manufacturing index seen at 55.5 in Nov. vs 54.8 in Oct. (forecast range 54 to 56.9); composite index tracks business activity, orders, employment, deliveries; above 50 indicates expansion, below 50 contraction.
  • Prior report showed 13 of 18 industries reported gains in Oct., including transportation, warehousing and construction
  • ISM index correctly signaled growth over the last six years and “recent postings suggest the pace of growth is on track for above-trend economic activity”: Bloomberg Intelligence
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: U.S., Global Rates Due for Counter-Trend Rally, Nomura Says

U.S., Global Rates Due for Counter-Trend Rally, Nomura Says

(Bloomberg) -- Markets “are entering a period of contemplation” that could drive UST 10Y yield back toward 2.20%-2.25% by year-end, Nomura strategists George Goncalves, Stanley Sun and Jason Wu write in Dec. 2 note.
  • Rates should rally out of Fed hike; risk-off moves stemming from European political events and ECB could reverse sell- off
  • Trump trade largely priced in; defensive positioning suggests rates need to go through “digestion phase” before pushing higher, with 2.35%-2.50% range a key area for UST 10Y to break through
  • Solid data in 2H so far, with risk to downside to start 2017, as well as uncertainty of Trump policies and fiscal package; wage inflation “likely to be tame” until U.S. job quality improves
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
George Goncalves (Nomura Holdings Inc)
Stanley Sun (Nomura Holdings Inc)
Jason Wu (Nomura Holdings Inc)

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UUID: 7947283

HALISTER1: Matt Levine's Money Stuff: Votes, Mortgage Finance and Mackerel

Matt Levine's Money Stuff: Votes, Mortgage Finance and Mackerel

Alert: HALISTER1
Source: BV (Bloomberg View)

People
Bernard Madoff (Cohmad Securities Corp)
Daniel Tarullo (Federal Reserve System)
David Woo (Bank of America Corp)
Kit Juckes (Societe Generale SA)
Matteo Renzi (Republic of Italy)

Topics
Criminal Practice & Procedure
Subordinated Debt

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UUID: 7947283