Halister News

(Bloomberg) -- Breakdown of RBI’s foreign reserve holdings shows that in recent years, its portfolio has shifted away from deposits with other central banks, BIS and IMF towards sovereign debt or sovereign-guaranteed debt with residual maturity less than 10 years, Nomura analysts write in note yday.

• Changing portfolio composition suggests RBI has been according a greater weight to liquidity in recent years, Sonal Varma and Neha Saraf write in note
• Investment in securities increased to 66.9% of total FX assets in March 2016 from 34.6% in March 2008; deployment in all deposits fell to 33.1% from 65.4%
• RBI’s total earnings from foreign sources moderated from a peak of 5.1% for the year-ending June 2008 to 1.4% in June 2015, which is unsurprising given falling sovereign bond yields globally
• Improved liquidity has come at the cost of lower returns
• NOTE: Forex reserves stood at $363.4b as on July 15

(Bloomberg) -- Five-year credit protection costs for Malaysia rose 4.5 bps yesterday, most since June 24, to 139.5 bps, according to CMA New York data.

• Thai 5-year CDS rose 4.2 bps, also most since June 24, to 93.2 bps
• USD/MYR 1-month NDF rose 0.5% to 4.0921 yesterday vs 4.0660 onshore closing for spot

Economic Release Details: {KOGDPQOQ Index ECOD} --SEYOON KIM

(Bloomberg) -- Texas Instruments sees 3Q EPS 81c-91c vs est. 81c; sees 3Q rev. $3.34b-$3.62b vs est. $3.38b.

• 2Q EPS 76c vs est. 72c
• 2Q rev. $3.27b vs est. $3.20b
• 2Q gross margin 61.2% vs est. 60.5%
• TXN up 5.7% post-market on 450k shares traded
• Call 530pm, 719-457-2639 pw 4686597
• Preview here

Statement