HALISTER1: Kingdom of Norway - DBRS Rating Report

Kingdom of Norway - DBRS Rating Report

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

Tickers
1233Z NO (Kingdom of Norway)

People
Javier Rouillet (DBRS Inc)
Nichola James (DBRS Inc)

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

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

UUID: 7947283

HALISTER1: Republic of Austria- DBRS Rating Report

Republic of Austria- DBRS Rating Report

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

Tickers
1480Z AV (Republic of Austria)

People
Carlo Capuano (DBRS Inc)
Nichola James (DBRS Inc)
Norbert Hofer (Freedom Party)

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

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

UUID: 7947283

HALISTER1: Citi Recommends Selling Argentina’s Bote due 2021 on Repricing

Citi Recommends Selling Argentina’s Bote due 2021 on Repricing

(Bloomberg) -- While country’s disinflation program is on track, “global re-pricing of fixed income is likely to also impact Argentina eventually, given how much supply was pumped into the market,” Citi analysts Dirk Willer and Kenneth Lam write in note.
  • Expects weaker ARS after tax amnesty program ends
  • Recommends taking profits on Bote bond due 2021
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Dirk Willer (Citigroup Inc)
Kenneth Lam (Citigroup Inc)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: U.S. Election Outcome to Lead to Steeper Fed Funds Path: BofAML

U.S. Election Outcome to Lead to Steeper Fed Funds Path: BofAML

(Bloomberg) -- Outcome of Nov. 8 election should lead to steeper fed funds target rate over next several years and reduce risks associated with debt limit; could result in TED spread widening due to repatriation flows, BofAML strategist Mark Cabana writes in note.
  • Fed has likely already seen enough economic progress to warrant a Dec. rate hike; policy makers will likely base decision on extent of any tightening in financial conditions and indications of economic uncertainty post-election
    • Market pricing of at least 60% for Dec. hike, without material tightening of financial or economic conditions, should be sufficient for Fed to move forward
  • Beyond 2017, there’s risk Fed may need to adopt more aggressive tightening if Trump, Republican Congress pursue meaningful expansion in fiscal stimulus
  • Will likely be fair amount of turnover in FOMC’s leadership in coming years; potential vacancies from two open governor seats, expiration of Yellen and Vice Chair Stanley Fischer’s terms in 2018 could result in significant reshaping of FOMC’s core
    • Unlikely Trump would reappoint Yellen; possible he would appoint people that favor more rules-based approach to policy making or are more amenable to having Fed decisions audited; such considerations would likely result in steeper front-end of yield curve
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Mark Cabana (Bank of America Corp)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: BofAML Restores Its Call for Fed Rate Increase in December

BofAML Restores Its Call for Fed Rate Increase in December

(Bloomberg) -- While there’s “high degree of uncertainty” regarding policies President-elect Trump will implement, outlook depends on financial conditions/confidence “and so far, so good,” BofAML economists led by Ethan Harris write in note Friday.
  • BofAML returns to pre-election day view and now expects Fed to hike in December
  • NOTE: On Nov. 9, day after election, BofAML had seen December hike as “more challenging” with a Trump victory, said Fed is more likely than not to postpone; also lowered its forecast for hikes between now and end of 2017 to one from three
  • Results of election will slow growth in 1H of 2017, yet underpin economy in 2H and into 2018
    • BofAML revises down its GDP growth forecast by 0.5% for 1Q and 2Q 2017, raises forecast by 0.5% for 3Q and 4Q
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Ethan Harris (Bank of America Corp)

Topics
BGOV Finance

To de-activate this alert, click here

UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: U of Michigan Consumer Sentiment Due in 5 Min.

U.S. ECO PREVIEW: U of Michigan Consumer Sentiment Due in 5 Min.

(Bloomberg) -- University of Michigan consumer sentiment index seen at 87.9 in Nov. vs 87.2 in Oct. (forecast range 84 to 96.8); based on random sample of households.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
8810Z US (University of Michigan)

To de-activate this alert, click here

UUID: 7947283