Halister News

(Bloomberg) -- Best Buy 2Q enterprise comp sales up 0.8% vs est. down 0.6%.

• 2Q adj. EPS cont ops 57c vs est. 43c
• Sees 3Q enterprise/domestic comp sales ~1%

Statement: NSN OCCZW0MEWG7A

(Bloomberg) -- Co. to form management mechanism to supervise overseas banking outlets, Mega Financial Executive Vice President Chen Sung-hsing says in Unique TV broadcast.

• To form task force to strengthen regulation compliance and anti-money laundering
• NOTE: Taiwan Prosecutors Visit Mega Bank Office to Probe Fine by N.Y. Link

(Bloomberg) -- The spread between India’s bond yield and repo rate has scope to compress further in anticipation of more monetary easing and OMO purchases while global yields are increasingly turning negative, Yes Bank and Edelweiss Financial Services say.

• Spread between India’s 10-year benchmark yield and central bank’s repo rate has narrowed to 67bps from 2016 high of 113bps
• Compression could push 10-yr yield down toward 7% in Oct.- Dec, according to a note from Yes Bank
• “When yields in a large part of the world have turned negative, India cannot trade above 7% for a long time,” Ajay Manglunia, Mumbai-based head of fixed income at Edelweiss Financial Services says
  • Spread between repo rate and 10-year yield is wide and will see some compression
• 10-year yield up 1 bp to 7.17%; RBI’s repo rate at 6.5%