Halister News

(Bloomberg) -- Unilever 3Q underlying sales growth 3.2%, est. 2.8%.

• 3Q volume down 0.4%, est. up 0.6%
• 3Q pricing up 3.6%, est. up 2.1%
• 3Q total sales EU13.4b, est. EU13.5b
• 3Q dividend EU32.01c, BDVD forecast EU32.01c
• Call 9am CET +44 1926 480 180, pw 283 393#

*Preview * Statement

--MARTIJN VAN DER STARRE

(Bloomberg) -- Uptick in CNH rates and forward points is confined to the very front-end. Suggests short-term liquidity tightness has been partly caused by reduced southbound flows, rather than being FX sentiment driven, says Frances Cheung, head of rates strategy, Asia ex-Japan at Societe Generale says

• USD/CNH overnight forward points up 4.33 to 6.33, 6-month forward points now down 45 to 885 points
• Yuan overnight interbank rate in Hong Kong rises 101 bps to 3.84%
• USD/CNH spot up 0.18% to 6.7378

--ADELA LIN

(Bloomberg) -- “The state visits which also will include economic and business opportunities would refocus market attention that things are also moving in the economic front,” says Joey Cuyegkeng, economist at ING Bank in Manila.

• NOTE: President Rodrigo Duterte set to visit China on Oct. 18-21, Japan on Oct. 25-27
• Visits to signal to market that govt is also moving toward bolstering economic prospects: Cuyegkeng
• Duterte’s 10-point economic agenda that includes enhancing growth and bringing it to bigger population not lost on economic managers
• Corporate demand for USD keeping currency pair afloat
• ING revised USD/PHP forecast for end-2016 to 47.50 from about 46.60
• USD/PHP little changed at 48.535, above 10-DMA at 48.372

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

• To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery

DOWNGRADE

• Arcotech
  • Long-term bank facilities cut to BB from BBB at Care
  • Cites lower-than-envisaged operational performance

• Vindhya Cereals
  • LT bank facilities cut to B from B+ at Crisil
  • Cites deterioration in liquidity

UPGRADES

• Celebi NAS
  • LT bank facilities raised to A- from BBB+ at Care
  • Cites consistent growth in total operating income

• Dalmia Cement
  • NCDs raised to AA from AA- at Care
  • Cites growth in operating income, net profit

• Gobind Sugar
  • LT bank facilities raised to BB+ from BB at Care
  • Cites healthy growth in operating income

• IDAA Infrastructure
  • LT bank facilities raised to A from A- at Care
  • Cites ability to generate sustained cash flows amid negative toll rate revision

• Madhav Alloys
  • LT bank facilities raised to A- from BBB+ at Care
  • Cites steady scale-up of operations, improved profitability margins

• Navayuga Infotech
  • LT bank facilities raised to BBB+(SO) from BBB(SO) at Care
  • Cites credit enhancement in form of a letter of comfort by Navayuga Engineering

• Niros Ispat
  • LT bank facilities raised to BB- from B+ at Care
  • Cites improvement in financial performance

• Rishi FIBC Solutions
  • LT bank facilities raised to A from A- at Care
  • Cites continuous growth in total operating income

• Sagar Cements
  • LT bank facilities raised to BBB from BBB- at Care
  • Cites satisfactory financial, operational performance

• Soma Isolux
  • LT bank facilities raised to BB- from B+ at Care
  • Cites improvement in toll revenue

• Trident
  • LT bank facilities raised to A from A- at Care
  • Cites increasing profitability, healthy cash flows

(Bloomberg) -- Long-end Treasury bonds leading decline in yields, with 30-year yield down 4 bps at 2.46%.

• Ten-year yield falls 3 bps to 1.74%, while 2-year yield down 2 bps at 0.84%
• “We’ve gone a little more bullish” on bonds, says ANZ senior rates strategist Martin Whetton in Sydney
• “We didn’t get a more hawkish Fed last night,” Whetton says; long-end supply is done for the moment after debt auctions of Australia, Japan, U.K., South Korea, and Spain
• Says tomorrow is the last day for funds to comply with the U.S. MMF regulations, so that should at least take a bit of heat out of funding markets; there’s probably a bit of bids for dollar bonds as a result
• Sees 10-year U.S. yield at 1.60% by year-end
• December 10-year bond contract up 10+ ticks, most since Sept. 14 to 130-04+