HALISTER1: FOMC May Be More Open to Raising Rates as Wages Rise: UBS

FOMC May Be More Open to Raising Rates as Wages Rise: UBS

(Bloomberg) -- “Signs point to a labor market that is tight enough to generate rising wages,” UBS economists Drew Matus, Samuel Coffin and Dave Liang write in note.
  • While there has been only “scattered” evidence of rising wages, “that may be changing”
  • Such a development “could put the Fed more at ease” with rate hike; UBS expects hike later this yr
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Drew Matus (UBS Asset Management Japan Ltd)
Samuel Coffin (UBS Global Asset Management Japan Ltd)
David Liang (UBS Securities LLC)

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UUID: 7947283

(2) *CHESAPEAKE ENERGY EXIT BARNETT SHALE, CUTS $1.9B IN COMMITMENTS

*CHESAPEAKE ENERGY EXIT BARNETT SHALE, CUTS $1.9B IN COMMITMENTS

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

Tickers
CHK US (Chesapeake Energy Corp)
WPZ US (Williams Partners LP)

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UUID: 7947283

HALISTER1: BRL May Test 3.00/USD Even If BCB Expands Actions: Analysts

BRL May Test 3.00/USD Even If BCB Expands Actions: Analysts

(Bloomberg) -- While recent BRL gains have been driven by external low rates and lower domestic political risk that could open room for wider BCB actions, the currency is still likely to rally further, analysts say.
  • Wider BCB interventions can’t be ruled out as BRL approaches 3.00/USD; however, it wouldn’t be as aggressive as actions when BCB was under Tombini’s governance, Vladimir Caramaschi, chief strategist at CA Indosuez Brazil, says
    • “This BCB is more orthodox, is looking for the inflation-targeting regime, is less willing to intervene in the FX market”
  • BCB interventions may remain focused on FX volatility instead of setting the prices; USD/BRL likely to drop further, nearing 3.00, amid impeachment and fiscal measures votes, Jose Goncalves, economist at banco Fator says
  • BCB could see reasons to intervene if BRL gains further, as the currency has outperformed its peers and the rally may harm exporters, Gustavo Rangel, chief-economist at ING, says
    • BCB can’t cut rates to weaken BRL because inflation remains a pressure; “for a while, the only option for BCB is the intervention”
  • While BRL may rise toward 3.10 in the coming days and weeks, BCB will try to dampen the move, Georgette Boele, FX strategist at ABN Amro, says
  • BCB may avoid further intervention even if BRL hits or breaches 3.00/USD level, Flavio Serrano, senior-economist at banco Haitong says
    • BCB may increase actions only if BRL outperforms peers significantly; even in this case, the change in intervention would be slight
  • BCB told Bloomberg it does not comment market assessments, when asked about the analysts’ views
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Alexandre Tombini (Financial Stability Board)
Flavio Serrano (Haitong Bank SA)
Georgette Boele (ABN AMRO Group NV)
Gustavo Rangel (ING Groep NV)
Jose Goncalves (Banco Fator SA)

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UUID: 7947283

HALISTER1: The NYISO Capacity Market from a Credit Risk Perspective - Commentary

The NYISO Capacity Market from a Credit Risk Perspective - Commentary

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

People
Eric Eng (DBRS Ltd)

Topics
Fixed Income Research
Industry & Sector Research
Credit Analysis Research
Credit Research
Investment Research

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UUID: 7947283