HALISTER1: Fed Rate Hike in Sept. Still ‘A Distinct Possibility’: CapEcon

Fed Rate Hike in Sept. Still ‘A Distinct Possibility’: CapEcon

(Bloomberg) -- While FOMC is unlikely to “spring any surprises” at July 26-27 mtg, Sept. action is still possible, Capital Economics economist Paul Ashworth writes in note.
  • Statement should acknowledge pick-up in 2Q GDP growth, recent strength in consumption, rebound in employment growth in June
    • Consumption “has been on an absolute tear”
  • Fed won’t commit itself to Sept. rate hike in July, especially with Yellen speaking at Jackson Hole symposium on Aug. 26
  • While mkts may have largely dismissed global impact of Brexit, some Fed officials may “still be nervous” that it could have negative impact in future
  • Any sign of trouble in mkts between July and Sept. mtgs could make Fed shelve plans to hike until yr end
    • CapEcon still expects two hikes this yr, in Sept. and Dec., and rising inflation to lead to 4 hikes next yr
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Paul Ashworth (Capital Economics Na Ltd)

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UUID: 7947283

HALISTER: Venezuela’s Bonds Propelled by Speculation PDVSA Is Eyeing Swap

Venezuela’s Bonds Propelled by Speculation PDVSA Is Eyeing Swap

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
PDVSA VC (Petroleos de Venezuela SA)

People
Daniel Urdaneta (Knossos Asset Management)
Eulogio Pino (Petroleos de Venezuela SA)
Francisco Rodriguez (Torino Capital LLC)
Nicolas Maduro Moros (Bolivarian Republic of Venezuela)
Siobhan Morden (Nomura Holdings Inc)

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UUID: 7947283

HALISTER: Kinder’s Belt-Tightening Pays Off as Returns Beat Peers (1)

Kinder’s Belt-Tightening Pays Off as Returns Beat Peers (1)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
KMI US (Kinder Morgan Inc/DE)
ETP US (Energy Transfer Partners LP)

People
Richard Kinder (Kinder Morgan Inc/DE)
Christine Cho (Barclays PLC)
Kimberly Dang (Kinder Morgan Inc/DE)
Kristina Kazarian (Deutsche Bank AG)
Steven Kean (Kinder Morgan Inc/DE)

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UUID: 7947283

HALISTER: Wells Fargo to Hire M&A Bankers, Operating Chief Sloan Says (1)

Wells Fargo to Hire M&A Bankers, Operating Chief Sloan Says (1)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
WFC US (Wells Fargo & Co)

People
David Denunzio (Credit Suisse Holdings USA Inc)
John Stumpf (Wells Fargo & Co)
Timothy Sloan (Wells Fargo & Co)

Topics
Management Changes

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UUID: 7947283

HALISTER1: DOJ Says More Than $3b Was Misappropriated From 1MDB

DOJ Says More Than $3b Was Misappropriated From 1MDB

(Bloomberg) -- Money laundering at Malaysian fund 1MDB occurred from 2009 to 2015, Attorney General Loretta Lynch says at press conference in Washington.
  • Private individuals used money to buy luxury real estate in U.S. and used money to fund motion picture company Red Granite Pictures, which in turn used more than $100m of that money to finance “Wolf of Wall Street,” DOJ says
  • Earlier: ‘Wolf of Wall Street’ Sued as U.S. Seeks 1MDB-Tied Assets
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Loretta Lynch (United States Department of Justice)

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UUID: 7947283

HALISTER: Prudential Promotes Sara Bonesteel to $371 Billion Investing Job

Prudential Promotes Sara Bonesteel to $371 Billion Investing Job

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
PRU US (Prudential Financial Inc)
2021Z US (Mutual of Omaha Insurance Co)

People
Sara Bonesteel (Prudential Financial Inc)
Alfred Lerman (Prudential Financial Inc)
Richard Hrabchak (Mutual of Omaha Insurance Co)
Scott Sleyster (Prudential Financial Inc)

Topics
Who's News - People

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UUID: 7947283