HALISTER: Goldman Said to Prepare Volcker Defense for $250 Million Trader

Goldman Said to Prepare Volcker Defense for $250 Million Trader

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GS US (Goldman Sachs Group Inc/The)

People
Paul Volcker (Volcker Alliance/The)
Geoffrey Weber (Citigroup Inc)
Thomas Malafronte (Goldman Sachs Group Inc/The)
Tiffany Galvin (Goldman Sachs & Co)

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UUID: 7947283

HALISTER1: Morgan Stanley Bank of America Merrill Lynch Trust 2016-C32 - DBRS Presale Report

Morgan Stanley Bank of America Merrill Lynch Trust 2016-C32 - DBRS Presale Report

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

People
Mary Potthoff (Dbrs, Inc.)
Matthew Reid (Dbrs, Inc.)
Kevin Mammoser (DBRS Inc)

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

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UUID: 7947283

HALISTER1: Estonia’s Ruling Center Party Indicted for Illegal Donation: ERR

Estonia’s Ruling Center Party Indicted for Illegal Donation: ERR

(Bloomberg) -- Indictment of party linked to charges against ex-Chairman Edgar Savisaar, public broadcaster ERR cites state prosecutor Steven-Hristo Evestus as saying in interview.
  • Prosecutors allege Savisaar received “large scale” illegal donation to Center; also charge him with misappropriating funds of Tallinn municipality for benefit of himself and Center; additional accusations include bribery and money laundering
  • Center and Savisaar deny wrongdoing and will prepare for trial, according to their lawyer, Oliver Naas
  • Center and Savisaar claim prosecutors violated procedural rights by not allowing lawyers time to file motions in relation to 300 pages of additional evidence presented immediately before indictment
  • NOTE: Center, Estonia’s most popular party, entered govt earlier this month for first time since 2007
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Canadian Credit Card Trust II, Series 2016-1 - Presale Report

Canadian Credit Card Trust II, Series 2016-1 - Presale Report

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

Tickers
NA CN (National Bank of Canada)

People
Fanfei Gong (DBRS Ltd)
Geetika Gupta (DBRS Ltd)
Jamie Feehely (DBRS Ltd)

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

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Consumer Confidence Due in 5 Minutes

U.S. ECO PREVIEW: Consumer Confidence Due in 5 Minutes

(Bloomberg) -- Conference Board’s Consumer Confidence Index seen at 101.5 in Nov. vs 98.6 in Oct. (forecast range 99 to 105); index based on random sample of ~3k households.
  • Upside risk to estimate given “post-election jump” in sentiment as reflected in University of Michigan survey: Bloomberg Intelligence
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
8810Z US (University of Michigan)

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UUID: 7947283

HALISTER1: EU-Area Collateral Shortage May Intensify Into December: DZ Bank

EU-Area Collateral Shortage May Intensify Into December: DZ Bank

(Bloomberg) -- Many banks “still on the hunt for collateral,” so shortage may intensify into December and won’t calm unless the ECB changes the rules and expands list of acceptable collateral, DZ Bank analysts Rene Albrecht and Daniel Lenz write in note.
  • Banks need to boost collateral before upcoming regulatory reporting date
  • There’s “lack of trust in ECB as the ‘lender of last repo,’” because its announcement about altering securities lending operations only “eased the situation briefly”
  • Fear of a lack of collateral becoming more widespread as the lower that bund, schatz yields fall, the more banks find themselves forced to “stock up” to avoid paying higher bond prices
  • Schatz demand growing because ECB, Bundesbank purchases of bunds and bobls has forced banks to switch to the short-end of the bund curve
    • ECB has fewer short-term notes because there’s been phases where only schatz complied with the PSPP yield floor
    • NOTE: Schatz yielding -0.747%, rose to -0.702% Nov. 23
  • NOTE: German, French, Italian, Spanish repo rates all trading through ECB’s -0.40% deposit rate
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)

People
Daniel Lenz (DZ Bank AG Deutsche Zentral-Genossenschaftsbank)
Rene Albrecht (DZ Bank AG Deutsche Zentral-Genossenschaftsbank)

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UUID: 7947283