HALISTER1: INDIA RATINGS: Equitas Finance Raised by Care

INDIA RATINGS: Equitas Finance Raised by Care

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
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  • Equitas Finance
    • LT bank facilities raised to A+ from A- at Care; NCDs also revised to A+ from A-
    • Cites improvement in business-risk profile due to merger
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Source: BFW (Bloomberg First Word)

Tickers
EQUITAS IN (Equitas Holdings Ltd/India)

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UUID: 7947283

HALISTER1: TAIWAN PREVIEW: Slower Output Could Push NDF to 50-DMA: Analysis

TAIWAN PREVIEW: Slower Output Could Push NDF to 50-DMA: Analysis

(Bloomberg) -- USD/TWD 1-mo. NDF could rally to 50-DMA of 32.314 near term if Taiwan’s factory output fails to match ests., Bloomberg strategist Andrew Robinson writes.
  • Output probably rose 0.5% after 1.89% gain in May, according to median est. in Bloomberg survey; ests. range from -2.8% to +2.4%; data due 4pm local time
    • Imports fell a larger-than-expected 10% y/y in June, suggesting a slowdown in demand, data released on July 8 showed
  • 1-mo. NDF up 0.1% at 31.983 today; NDF hasn’t traded above 50-DMA since June 28
    • Slow stochastics %K line is at 34 and rising
  • NOTE: Andrew Robinson is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INSIDE MALAYSIA: MYR Drops; Switzerland Seizes Artwork in Probe

INSIDE MALAYSIA: MYR Drops; Switzerland Seizes Artwork in Probe

(Bloomberg) -- Ringgit falls for a fifth day in its longest-losing streak since November as the U.S., Singapore and Switzerland authorities seized assets and widened their 1MDB-related probes. Bonds gain.
  • Swiss authorities seized Monet and Van Gogh works after the U.S. sent requests on July 20 as part of the probe into money-laundering and misappropriation involving 1MDB
    • Resurfacing 1MDB controversy to undermine MYR and provide support to USD/MYR in coming sessions, Scotiabank writes in note today
    • Ringgit decline isn’t as bad as other currencies: PM Najib said late yday. Najib also said the govt will cooperate with other investigative agencies
  • Ringgit declines 0.3% to 4.0502 per dollar, according to onshore prices
  • Yield on 3.9% govt bond due Nov. 2026 falls 4 bps today to
3.642%, still up 7 bps on week,, according to Bursa Malaysia prices
  • USD/MYR -- extending gains above 100-DMA, eyeing Fibonacci resistance
    • Resistance: 4.0720, June 29 high; 4.0760, 61.8% Fibo retracement of drop from June 24 to July 15; 4.1272, June 28 high
    • Support: 4.0226, 100-DMA; 3.9725, July 19 low; 3.9672, July 15 high
  • Malaysia will release foreign reserves data for the fortnight ending July 15; nation’s holdings amounted to $97.2b as of June 30.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Chinese-Owned Key Safety Systems Said to Plan Bid for Takata (1)

Chinese-Owned Key Safety Systems Said to Plan Bid for Takata (1)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
7312 JP (Takata Corp)
GM US (General Motors Co)
7267 JP (Honda Motor Co Ltd)
600699 CH (Ningbo Joyson Electronic Corp)

People
Pag Capital (Pacific Alliance Group Asset Management Ltd)
Takeshi Miyao (Carnorama)
Wang Jianfeng (Ningbo Joyson Electronic Corp)

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UUID: 7947283

HALISTER: Fight or Run Is the Choice for Health Insurers After DOJ Suit

Fight or Run Is the Choice for Health Insurers After DOJ Suit

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AET US (Aetna Inc)
ANTM US (Anthem Inc)
CI US (Cigna Corp)
HUM US (Humana Inc)

People
Ana Gupte (Leerink Partners LLC)
Bruce Broussard (Humana Inc)
David Cordani (Cigna Corp)
Ira Gorsky (Elevation LLC)
Kathleen Sebelius (United States Department of Health & Human Services)

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UUID: 7947283

HALISTER: Goldman Said to Start Mkting $5b-$8b Corporate Buyout Fund: WSJ

Goldman Said to Start Mkting $5b-$8b Corporate Buyout Fund: WSJ

(Bloomberg) -- Goldman Sachs will soon begin marketing a new corporate-buyout fund, its 1st such fund since the finl crisis, WSJ reports, citing unidentified people familiar.
  • Aiming for initial close by end of yr
  • Goldman to contribute just a small portion of its own capital to comply with post-crisis rules
  • Fund named West Street Capital Partners, after the bank’s lower Manhattan address, to comply with rule that prevents private-equity funds from bearing parent bank’s name
  • Bank hopes to raise $500m or so from Goldman employees
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
GS US (Goldman Sachs Group Inc/The)

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