HALISTER1: CANADA ECO PREVIEW: Retail Sales, CPI Due in 5 Minutes

CANADA ECO PREVIEW: Retail Sales, CPI Due in 5 Minutes

(Bloomberg) -- Canadian retail sales seen increasing 0.5% in June after rising 0.2% in May (forecast range +0.3% to +1.1%); based on the value of goods sold.
  • Canada’s consumer price index seen rising 1.4% y/y in July after increasing 1.5% in June (forecast range to +1.2% to +1.7%)
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: BCB Auction Change Points to 3.10-3.20 BRL Range: Correparti

BCB Auction Change Points to 3.10-3.20 BRL Range: Correparti

(Bloomberg) -- BCB’s decision to cut FX reverse swaps offerings to 10,000 from 15,000 after USD/BRL surpassed 3.20 is a sign that the central bank seeks a 3.10-3.20 range for the pair, Ricardo Gomes da Silva, FX trading head at brokerage Correparti, says in an e-mailed note.
  • Decision has signaled a range, despite official discourse reinforcing a commitment to a floating FX regime
  • Given BCB decision, BRL likely will reverse part of recent days’ losses, Da Silva says
  • NOTE: BCB raised the volume to 15,000 from prior 10,000 on Aug. 11; decision was announced on August 10, when BRL closed at 3.1274/USD
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Ricardo Gomes Da Silva (Correparti Corretora De Cambio)

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UUID: 7947283

HALISTER1: Watch for Possible Fitch Downgrade of Turkey: Brown Brothers

Watch for Possible Fitch Downgrade of Turkey: Brown Brothers

(Bloomberg) -- Fitch should downgrade Turkey today, but may defer, take the stance of Moody’s and decide it needs more information, Brown Brothers’ Win Thin said.
  • NOTE: Moody’s put off a decision a couple weeks ago, while S&P cut it’s rating right after the coup attempt
  • BBH model has Turkey at BB/Ba2/BB; Thin prefers S&P’s more aggressive approach
  • NOTE: Aug. 5, Moody’s Review of Turkey’s Baa3 Rating Remains Ongoing
  • NOTE: Aug. 1, S&P Revises Turkey Risk Assessment to ‘High Risk’ 5 From 4
  • NOTE: July 20, Turkey Ratings Cut to BB From BB+ by S&P, Outlook Negative
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
FIM FP (Fimalac)

People
Win Thin (Brown Brothers Harriman & Co)

Topics
Political Coups

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UUID: 7947283

HALISTER1: Santander Totta Covered Bond Programme - DBRS Surveillance Report

Santander Totta Covered Bond Programme - DBRS Surveillance Report

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

People
Claire Mezzanotte (DBRS Inc)
Lucia Liao (Maybank)
Pallop Angsupun (Nyc Economic Development Corp)

Topics
Fixed Income Research
Reports
Credit Analysis Research
Credit Research
Investment Research

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UUID: 7947283

HALISTER1: MORE: Philippine Central Bank Mulls Higher Penalty Vs Laundering

MORE: Philippine Central Bank Mulls Higher Penalty Vs Laundering

(Bloomberg) -- Bangko Sentral ng Pilpinas will propose higher penalty for violations of anti-money laundering law, Deputy Governor Vicente Aquino says in interview.
  • Proposed increase include raising administrative penalty to 1m pesos or 20% of amount of laundered money, whichever is higher
  • Casinos, real estate brokers, art dealers and motor vehicle dealers may be added to list of covered institutions
  • BSP seeking authority to temporarily withhold a transaction for 2 banking days while verifying if it is suspicious
  • NOTE: Philippines Slaps $21.3 Million Fine on Rizal Bank for Heist Link
  • NOTE: Bangladesh Seeks to Reopen Philippine Inquiry Into Stolen Funds Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)

People
Vicente Aquino (Bangko Sentral ng Pilipinas)

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UUID: 7947283

HALISTER1: Philippine Central Bank Seeks Capital, Reserves Vs FX Swings

Philippine Central Bank Seeks Capital, Reserves Vs FX Swings

(Bloomberg) -- Bangko Sentral ng Pilipinas is seeking additional capital of 150b pesos under proposed changes to its charter, Deputy Governor Vicente Aquino says in interview.
  • BSP also wants to have reserves against open-market operation costs and FX swings
  • Regulator also wants supervision over currency dealers, money-transfer and financial-technology companies to protect consumers and to combat money laundering
  • NOTE: BSP’s charter was last amended in 1993 and efforts to update law in recent years not bearing fruit
  • Lifting of deposit secrecy law to allow examination by central bank, tax exemption, legal protection for personnel under duty and power to issue debt certificates also proposed
  • NOTE: Philippines to Toughen Nonbank Oversight for Money Laundering Link
  • NOTE: BSP s expanding its cyber-security unit, placing banks and money changers under tighter scrutiny Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)

People
Vicente Aquino (Bangko Sentral ng Pilipinas)

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UUID: 7947283