(2) *WAL-MART IN TALKS TO INVEST UP TO $1 BLN IN INDIA'S FLIPKART

*WAL-MART IN TALKS TO INVEST UP TO $1 BLN IN INDIA'S FLIPKART

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
WMT US (Wal-Mart Stores Inc)
AMZN US (Amazon.com Inc)
1303065D SP (Flipkart Ltd)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Aquarelle, Rochem Cut; Adani Wilmar Raised

INDIA RATINGS: Aquarelle, Rochem Cut; Adani Wilmar Raised

(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
DOWNGRADES
  • Aquarelle India
    • Long-term bank facilities cut to BBB+ from A- at Care
    • Cites drop in profitability
  • Konstelec Engineers
    • LT loan facilities cut to BBB- from BBB at Crisil
    • Cites substantial fall in revenue, profitability
  • P G Mercantile
    • LT loan facilities cut to D from BB at Crisil
    • Cites delays of over 30 consecutive days in servicing letter of credit obligation
  • Rochem Separation
    • LT loan facilities cut to BBB- from BBB at Crisil
    • Cites lower-than-anticipated profitability
UPGRADES
  • Adani Wilmar
    • LT bank facilities raised to A from A- at Care
    • Cites growth in scale of operations, improvement in profitability
  • Aditya Birla Retail
    • LT loans raised to A- from BBB+ at ICRA
    • Cites improvement in operating performance
  • Vardhman Pharma
    • LT bank facilities raised to A-(SO) from BBB+(SO) at Care
    • Cites credit enhancement via unconditional, corporate guarantee from Keimed
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
6596700Z IN (Adani Wilmar Ltd)
214046Z IN (Aditya Birla Group)
4088148Z MP (Aquarelle International Ltd)
3500069Z IN (Concord Enviro Systems Pvt Ltd)

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UUID: 7947283

HALISTER1: USD/TWD NDFs May Test 31.00 Area If CBC Holds Rate: Analysis

USD/TWD NDFs May Test 31.00 Area If CBC Holds Rate: Analysis

(Bloomberg) -- USD/TWD 1-mo. NDFs may test support at 30.967-31.045 area, which consists of series of lows starting Aug. 16, in short-term if Taiwan’s central bank leaves interest rates unchanged, Bloomberg strategist David Finnerty writes.
  • NDFs are being weighed down by Fed lowering its dot path for 2017 onwards, which is spurring risk-on sentiment
  • Resistance at 50-DMA bearishly held earlier this week and MACD remains bearishly below zero and signal line
  • International investors have also been net buyers of $7.8b in island’s equities so far this quarter: exchange data
  • CBC will maintain its benchmark rate unchanged at 1.375%, according to 14 of 26 economists in Bloomberg survey; 12 predict a cut of 0.125 bps to 1.250%; decision due tomorrow
  • Central bank lowered its benchmark rate by 0.125 bps at its June 30 meeting to aid growth, given Brexit and projected slack in global economy had compounded risks to international trade and the economic outlook
  • Since June 30 meeting, economic data have been mixed; CPI fell to 0.57% y/y in Aug., lowest reading since Dec. 2015, while industrial production grew 7.74% y/y in Aug., most since Dec. 2014
  • 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)

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UUID: 7947283

HALISTER: RBS Will Pay $1.1 Billion in Settlement Over Mortgage Securities

RBS Will Pay $1.1 Billion in Settlement Over Mortgage Securities

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
RBS LN (Royal Bank of Scotland Group PLC)
FMCC US (Federal Home Loan Mortgage Corp)
WFC US (Wells Fargo & Co)

People
Rick Metsger (National Credit Union Administration)

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UUID: 7947283

HALISTER1: China Bonds Rally May Stall in 4Q as PBOC Deleverages: Survey

China Bonds Rally May Stall in 4Q as PBOC Deleverages: Survey

(Bloomberg) -- Chinese authorities’ determination to make further progress on deleveraging will be a key constraint for onshore bonds in 4Q, according to a Bloomberg survey where nearly two-thirds of respondents expect 10-year yields to stay rangebound next quarter.
  • 29.4% expect lower yields while 5.9% predicted higher rates
    • 17 respondents participated in the Bloomberg survey conducted from Sept. 22 to Sept. 26
  • 10-year govt bond yield forecast at 2.7% by end-4Q and may hit as low as 2.6% during this period, according to median est. in survey
  • Factors which may limit downside for bond yields include:
    • Officials’ determination to deleverage - 35.3% of participants
    • Growth stabilization - 23.5% of participants
    • Fed’s rate hike, onshore liquidity tightening
  • 60% expect PBOC to combine 7-, 14- and 28-day reverse repos
    • NOTE: Yield on 2.74% govt bond due August 2026 rises 1 bp to 2.725% as of Sept. 27
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
PBCZ CH (People's Bank Of China)

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UUID: 7947283

HALISTER: Wells Fargo CEO to Forfeit Unvested Equity; Won’t Get ’16 Bonus

Wells Fargo CEO to Forfeit Unvested Equity; Won’t Get ’16 Bonus

(Bloomberg) -- Wells Fargo CEO John Stumpf’s unvested equity award valued at ~$41m. Link to Statement:Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
WFC US (Wells Fargo & Co)

People
John Stumpf (Wells Fargo & Co)

Topics
Who's News - People

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UUID: 7947283