HALISTER: AB InBev 3Q Normalized Ebitda Misses Estimates

AB InBev 3Q Normalized Ebitda Misses Estimates

(Bloomberg) -- Anheuser-Busch InBev 3Q sales $11.1b, est. $11.4b.
  • 3Q normalized Ebitda $4.03b, est. $4.42b
  • 3Q normalized Ebit $3.21b, est. $3.62b
  • 3Q normalized EPS 83c, est. $1.02
  • 3Q organic vol. down 0.9%, est. down 1.5%
  • 3Q organic rev. up 2.8%, est. up 3.4%
  • 3Q organic normalized Ebitda down 2%, est. up 4.5%
  • Interim dividend kept at EU1.60, BDVD forecast EU1.60
*Preview * Statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ABI BB (Anheuser-Busch InBev SA/NV)

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UUID: 7947283

HALISTER: BNP 3Q Net Beats Estimate, Fully Loaded CET1 Ratio 11.4%

BNP 3Q Net Beats Estimate, Fully Loaded CET1 Ratio 11.4%

(Bloomberg) -- BNP Paribas 3Q net income EU1.89b vs est. EU1.69b.
  • 3Q rev. EU10.6b (+2.4% y/y) vs est. EU10.2b
  • Fully loaded CET1 ratio 11.4% end-September vs 11.1% end- June
  • 3Q CIB rev. +13% y/y to EU2.91b
  • Statement
  • PREVIEW here
  • Related
    • BNP is trading on 9.4x next year’s earnings vs 10.8x for the Stoxx 600 Banks index according to Bloomberg data
    • Stock has risen 16.9% month-to-date vs a 9.9% rise in Stoxx 600 Banks index; is up 2.4% YTD vs 16% fall in the SX7P index
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BNP FP (BNP Paribas SA)

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UUID: 7947283

HALISTER1: Hong Kong Dollar Swaps Highest Since June as Curve Steepens

Hong Kong Dollar Swaps Highest Since June as Curve Steepens

(Bloomberg) -- HKD 2-year interest-rate swaps rise 3.5bps to 1.0200%, highest since June 8 while HKD 5-year IRS climbs for sixth day, up 5 bps to 1.3300%, also highest since June 8.
  • Spread between 2-year and 10-year swaps widens to 67bps vs 64.5bps yesterday; click here for chart
  • Spot USD/HKD falls 0.02% to 7.7538
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: What Bubble? Buy Junk Bonds, Says $1 Trillion Prudential Unit

What Bubble? Buy Junk Bonds, Says $1 Trillion Prudential Unit

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
PRU US (Prudential Financial Inc)

People
Michael Lillard (Prudential Financial Inc)
Alan Greenspan (Greenspan Assoc)
Jeffrey Gundlach (Doubleline Capital LP)
Seth Masters (Bernstein Global Wealth Management)

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UUID: 7947283

HALISTER1: German 10-Year Bunds Bracing for 1% in Next Yield Surge: Charts

German 10-Year Bunds Bracing for 1% in Next Yield Surge: Charts

(Bloomberg) -- Historical pattern suggests German 10-year yield may have room to rise a further 100bps if bunds are entering a cyclical bear phase which momentum studies are indicating, Bloomberg strategist Mark Cranfield writes.
  • Chart pattern for past six years suggests a typical bund sell-off may lift 10-year yield by 94-140bps;
    • If 10-year yield reaches 1.0%, it will be the first time since June 2015 and amount to an increase of 116bps from late September when current cycle began; click here for chart
  • 10-year yield is breaking above 100-DMA at 0.08% this week for first time since January with momentum studies turning higher:
    • MACD above zero and signal lines
    • Slow stochastics %K at 64
  • 10-year yield closed Thursday up 8.5bps to 0.17%
  • 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)

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UUID: 7947283

HALISTER1: Asia Bond Yields Rising Across Board, Jumping to G-10 Beat

Asia Bond Yields Rising Across Board, Jumping to G-10 Beat

(Bloomberg) -- South Korea 10-year bonds leading higher yields in the region, up 4bps to 1.71%, highest since June.
  • In Thursday’s global bond trading, surging U.K. yields triggered similar moves across Europe, North America
  • Taiwan 10-year rising for fifth day, up 3 bps to 1.009%, highest since January
  • Japan 10-year up 1bp to -0.045%
  • Australia 10-year up 5bps to 2.372%
  • 10-year Treasury little changed at 1.852%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283