HALISTER1: Malaysia Took Action Against Bankers Covering up for 1MDB: Edge

Malaysia Took Action Against Bankers Covering up for 1MDB: Edge

(Bloomberg) -- Central bank took action against two AmBank Group bankers covering up money laundering transactions related to 1Malaysia Development Bhd, Edge reports, citing Ministry of Finance parliamentary reply.
  • Ministry of Finance didn’t specify what these actions were, Edge says
  • Action taken after Bank Negara Malaysia probed AmBank, Edge says, citing parliamentary reply
  • Bank Negara Malaysia couldn’t immediately comment, AmBank spokesman declined to comment
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0206021D MK (1Malaysia Development Bhd)
AMM MK (AMMB Holdings Bhd)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: U.S. Election to Sway Baht More Than Bank of Thailand: Analysis

U.S. Election to Sway Baht More Than Bank of Thailand: Analysis

(Bloomberg) -- The presidential election result is more likely to influence USD/THB’s short-term direction than Bank of Thailand’s policy decision this week, Bloomberg strategist David Finnerty writes.
  • A Clinton victory would probably lead to general dollar strength, with USD/THB likely testing 200-DMA resistance
  • A Trump win may spur dollar weakness, sending pair to 100- DMA support
    • It could result in dollar strength longer term though if his policy to encourage U.S. companies to repatriate money is passed
  • USD/THB is at 35.006; 200-DMA is 35.121, 100-DMA 34.918
  • BOT will leave benchmark interest rate at 1.50%, according to 21 of 22 economists in Bloomberg survey, with one predicting 25bp cut to 1.25%; decision due 2pm local time on Nov. 9
  • In its September monetary policy report, the central bank said it expects headline inflation to return to lower bound of target band within this year, with timing largely dependant on movements in global crude oil prices
    • This indicates the BOT is comfortable with the inflation path and doesn’t see need to cut rates to help spur it higher; currency shouldn’t be impacted if no rate change
  • NOTE: David Finnerty is an FX 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)

Tickers
BOT TB (Bank of Thailand)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: MAJOR TECHS: USD/JPY Holds Gain With Bullish Momentum: AUD Slips

MAJOR TECHS: USD/JPY Holds Gain With Bullish Momentum: AUD Slips

(Bloomberg) -- Daily levels for GBP and Asian currency pairs:
  • USD/JPY -- Rebounding from 55-DMA support on bullish momentum
  • 3rd resistance: 106.54, July 27 high
  • 2nd resistance: 105.63, July 29 high
  • 1st resistance: 105.12, Nov. 1 high
  • Spot: 104.55; pivot point: 104.07
  • 1st support: 102.82, 55-DMA
  • 2nd support: 102.17, 61.8% Fibo of Sept. 27 to Oct. 28 rally
  • 3rd support: 101.18, Oct. 3 low
  • GBP/USD -- Capped below 55-DMA
  • 3rd resistance: 1.2754, 55-DMA
  • 2nd resistance: 1.2623, Oct. 7 high
  • 1st resistance: 1.2557, Nov. 4 high
  • Spot: 1.2394; pivot point: 1.2434
  • 1st support: 1.2267, 21-DMA
  • 2nd support: 1.2083, Oct. 15 low
  • 3rd support: 1.1990, 76.4% Fibo retracement of Oct. 7-10 rally
  • AUD/USD -- Consolidating above 50- and 100-DMA support
  • 3rd resistance: 0.7835, April 21 high
  • 2nd resistance: 0.7756, Aug. 10 high
  • 1st resistance: 0.7734, Oct. 20 high
  • Spot: 0.7717; pivot point: 0.7705
  • 1st support: 0.7612, 50-DMA
  • 2nd support: 0.7587, 100-DMA
  • 3rd support: 0.7556, Oct 14 low
  • NZD/USD -- Approaching 5-week high
  • 3rd resistance: 0.7564, 17-month high
  • 2nd resistance: 0.7486, Sept. 7 high
  • 1st resistance: 0.7369, Sept. 22 high
  • Spot: 0.7339; pivot point: 0.7332
  • 1st support: 0.7266, Oct. 20 high
  • 2nd support: 0.7243, 50-DMA
  • 3rd support: 0.7209, 100-DMA
  • USD/KRW -- Consolidating between 100- and 200-DMAs
  • 3rd resistance: 1,154.92, 200-DMA
  • 2nd resistance: 1,153.63, July 14 high
  • 1st resistance: 1,152.20, Nov. 2 high
  • Spot: 1,143.13 (close on Nov. 7); pivot point: 1,141.77
  • 1st support: 1,136.50, Nov. 3 low
  • 2nd support: 1,135.32, Oct. 26 high (breakaway gap)
  • 3rd support: 1,128.89, 100-DMA
  • USD/MYR -- Bullish signal from 50- and 200-DMA crossover
  • 3rd resistance: 4.2350, Feb. 29 high
  • 2nd resistance: 4.2242, Oct. 13 high
  • 1st resistance: 4.2130, Oct. 31 high
  • Spot: 4.2110 (close on Nov. 7); pivot point: 4.2046
  • 1st support: 4.1442, Oct. 26 low
  • 2nd support: 4.1325, Oct. 11 low
  • 3rd support: 4.1370, 50-DMA
  • USD/SGD -- Consolidating below October high
  • 3rd resistance: 1.4119, Feb. 29 high
  • 2nd resistance: 1.4045, March 2 high
  • 1st resistance: 1.3964, Oct. 27 high
  • Spot: 1.3896 pivot point: 1.3881
  • 1st support: 1.3819, Nov. 2 low
  • 2nd support: 1.3791, 38.2% Fibo retracement of Sept. 22 to Oct. 27 rally
  • 3rd support: 1.3776, Oct. 14 low
  • USD/IDR -- Capped below 100-DMA
  • 3rd resistance: 13,257, 200-DMA
  • 2nd resistance: 13,128, 100-DMA
  • 1st resistance: 13,115, Nov. 4 high
  • Spot: 13,088 (close on Nov. 7); pivot point: 13,084
  • 1st support: 12,980, Oct. 20 low
  • 2nd support: 12,955, Oct. 10 low
  • 3rd support: 12,920, Sept. 28 low
  • NOTE: Mark Cranfield is an FX strategist who writes for First Word. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: U.K.’s Hammond Dodges Brussels as Britain Keeps Distance From EU

U.K.’s Hammond Dodges Brussels as Britain Keeps Distance From EU

Alert: HALISTER1
Source: BN (Bloomberg News)

People
Boris Johnson (United Kingdom of Great Britain and Northern Ireland)
David Davis (United Kingdom of Great Britain and Northern Ireland)
David Gauke (United Kingdom of Great Britain and Northern Ireland)
George Osborne (United Kingdom of Great Britain and Northern Ireland)
Petteri Orpo (Republic of Finland)

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

UUID: 7947283

HALISTER1: SAGRES – Sociedad de Titularização de Créditos, S.A. (Lusitano SME No. 3) - DBRS Presale Report

SAGRES – Sociedad de Titularização de Créditos, S.A. (Lusitano SME No. 3) - DBRS Presale Report

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

People
Carlos Silva (Dbrs Europe Ltd)
Mudasar Chaudhry (DBRS Inc)

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

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

UUID: 7947283

HALISTER1: FHA MIP Cut Unlikely With New Administration, BofAML Says

FHA MIP Cut Unlikely With New Administration, BofAML Says

(Bloomberg) -- FHA MIP cut in the foreseeable future is doubtful with a new administration coming into power and “highly fragile state” of GNMA MSR pricing, BofAML Agency MBS strategist team led by Satish Mansukhani writes in note.
  • This month likely to see release of FHA’s financials and capital reserve position on its MMI fund
    • Strong housing, home price appreciation and high volume suggest it will meet 2% capital reserve target
  • GNMA MSRs pricing look vulnerable to prepay risk on top of lack of capacity, liquidity and funding and capital
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
MIP TU (MIP)

People
Satish Mansukhani (Bank of America Corp)

Topics
Federal Housing Administration

To de-activate this alert, click here

UUID: 7947283

HALISTER1: UST 10Y Yield May Fall 40bp on Contested U.S. Vote Result: Citi

UST 10Y Yield May Fall 40bp on Contested U.S. Vote Result: Citi

(Bloomberg) -- Under likeliest scenario, Clinton victory (70%) and Republican-controlled House, Democratic-controlled Senate (40%), expect a “relief backup” in UST yields and curve steepening, Citi strategist Jabaz Mathai says in note.
  • 10Y yield should rise 10bp on Wednesday on that outcome, regardless of party controlling Senate
    • Curve should steepen initially on higher deficit expectations, however Fed rate hike expectations would tend to flatten curve
    • If Democrats win control of Senate, 10Y yield should fall by 6bp
  • Trump victory (27%) would be negative for risk assets, especially in emerging markets; dollar should rally, but weaken vs JPY
    • 10Y yield should fall 18bp on Republican sweep, 16bp if Democrats control Senate
  • “Most disruptive of all potential outcomes” would be a contested election; 10Y yield should fall 40bp in that case
  • Clean sweep by either party “would be construed negatively by markets” because of potential for policies that “may not be positive for economic growth”
    • Democratic sweep should cause UST curve to flatten led by long end on prospect of increased regulation and higher taxes
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jabaz Mathai (Citigroup Inc)

To de-activate this alert, click here

UUID: 7947283