Halister News

(Bloomberg) -- Attorney general says Franz Beckenbauer, Horst Rudolf Schmidt, Theo Zwanziger, Wolfgang Niersbach facing criminal proceedings for alleged fraud, criminal mismanagement, money laundering and misappropriation.

• Probe connected with a EU6.7m gala event at the 2006 Soccer World Cup in Germany
• “It is suspected that the suspects knew that this sum was not being used to fund the gala event, but instead to repay a debt that was not owed” by the German Football Association, prosecutor says in e-mailed statement
• Probe was opened on Nov. 6, 2015, first reported today by Der Spiegel

(Bloomberg) -- Initial jobless claims seen at 265k in wk ended Aug. 27 vs 261k prior wk (forecast range 255k to 287); represents inflow of workers receiving unemployment benefits.

• Non-farm productivity seen falling revised 0.6% in 2Q vs initially reported 0.5% decline; (forecast range -0.8% to +0.6%); productivity measures employee output per hour

(Bloomberg) -- Swiss attorney general’s office confirms operation underway against Franz Beckenbauer after Der Spiegel says soccer executive being investigated on suspicion of money laundering.

• Spokesman for Swiss attorney general declines to confirm nature of operation, says press release to be issued later today.
• Note: Oct. 21, 2015 Beckenbauer Is One of 11 FIFA Officials Under Investigation in FIFA ethics-code case

(Bloomberg) -- Department of Justice completed preliminary investigation on money-laundering charges connected with $81m funds stolen from Bangladesh Bank, Assistant State Prosecutor Gilmarie Fe Pacamara tells reporters.

• A resolution may be issued this month
• NOTE: Philippine central bank in August slapped 1b peso penalty on Rizal Bank for violations of banking rules in connection with $81m heist Link

(Bloomberg) -- Gilt 10-yr yield may edge toward 55-DMA topside hurdle; level has served as pivot since March, capping the yield upticks on multiple instances, Bloomberg technical analyst Sejul Gokal writes.

• See chart here
• U.K. 10-yr yield now at 69bps
• GBP 10-yr swap rate may form double-bottom pattern on closing break above 78bps; completion projects 90bps as measured target (see chart)
• U.K. Aug. manufacturing PMI data came in at 53.3 vs est. 49, helping allay fears of sharp economic slowdown following Brexit vote
• Earlier: U.K. 2/10 Curve May Test 63bps as Bear Steepening Momentum Soars

• NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.

(Bloomberg) -- U.K. 2s10s spread may move toward 55-DMA at 59bps before approaching stronger resistance at 63bps; daily steepening momentum is strong on MACD terms with histogram testing a 15-mo. high, Bloomberg technical analyst Sejul Gokal writes.

• See chart
• MACD rising from deep oversold area and spread to signal expands to highest level since May 2015
• NOTE: Aug. 22, U.K. 2/10 Curve Gathering Steepening Momentum, May Test 51bps
• NOTE: Aug. 10, Gilts 2s10s Narrowing Phase May Abate Near 34-29BPs Area

• NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.