HALISTER: BOE Rate Cut May Push U.K. Lenders to Deepen Cuts, Raise Fees

BOE Rate Cut May Push U.K. Lenders to Deepen Cuts, Raise Fees

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BARC LN (Barclays PLC)
LLOY LN (Lloyds Banking Group PLC)
RBS LN (Royal Bank of Scotland Group PLC)
VM/ LN (Virgin Money Holdings UK PLC)

People
Alan Beaney (RC Brown Investment Management PLC)
Edward Firth (Macquarie Group Ltd)
Gary Greenwood (Shore Capital Group Ltd)
Howard Davies (Royal Bank of Scotland NV)
Mark Carney (Bank of England)

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UUID: 7947283

HALISTER1: *AMC THEATRES TO BUY ODEON & UCI CINEMAS IN DEAL VALUED AT £921M

*AMC THEATRES TO BUY ODEON & UCI CINEMAS IN DEAL VALUED AT £921M

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
AMC US (AMC Entertainment Holdings Inc)
99484Z LN (Terra Firma Capital Partners Ltd)

People
Adam Aron (AMC Entertainment Inc)
Craig Ramsey (AMC Entertainment Inc)
Guy Hands (Terra Firma Capital Partners Ltd)
Paul Donovan (Odeon & UCI Cinemas Group Ltd)

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UUID: 7947283

HALISTER: Qatar Air to Take Stake in Latam, Biggest South American Carrier

Qatar Air to Take Stake in Latam, Biggest South American Carrier

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
IAG LN (International Consolidated Airlines Group SA)
105701Z QD (Qatar Airways Ltd)

People
Akbar Baker (Qatar Airways Ltd)
Enrique Plaza (Latam Airlines Group SA)

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UUID: 7947283

HALISTER: Your Car’s Been Studying You Closely and Everyone Wants the Data

Your Car’s Been Studying You Closely and Everyone Wants the Data

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GOOG US (Alphabet Inc)

People
Anthony Posawatz (FA Liquidating Corp)
Bryan Mistele (INRIX Inc)
David Fuller (In Touch Capital Markets)
Eric Noble (Car Lab)
J Butler (Ford Motor Co)

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UUID: 7947283

HALISTER1: Philippines Must Be Watchful on Spending Impact to Prices: IMF

Philippines Must Be Watchful on Spending Impact to Prices: IMF

(Bloomberg) -- “The current monetary stance is appropriate and should remain vigilant to the impact of additional fiscal stimulus on inflation,” IMF says in statement issued after annual country review in Manila.
  • Flexible exchange rate regime and strong external position should help cushion economy from external shocks
  • Philippines needs to tighten anti-money laundering legislation and procedures, ease bank secrecy in line with international practice including making tax evasion a predicate crime
  • Downside risks to 2016 growth emanate from external environment including U.K.’s vote to leave European Union
  • Country’s favorable medium-term outlook is subject to downside risks stemming from global environment like lower growth in China and region, tighter global financial conditions
  • Should risks materialize, authorities are well-equipped to respond given country’s strong fundamentals and ample policy space
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INSIDE G-10: GBP Gains as Uncertainty Ebbs; JPY Extends Declines

INSIDE G-10: GBP Gains as Uncertainty Ebbs; JPY Extends Declines

(Bloomberg) -- GBP advances for a third-straight day as the U.K. moves closer to ending a political leadership vacuum, while USD/JPY rises above 103.00 as investors await details of Japan PM Abe’s stimulus package.
  • Stoxx Europe 600 climbs 0.9%; Nikkei index rises more than 6% in two days
  • GBP/USD up 1.2% to 1.3152, trades near 1.3157 day high; next resistance at 1.3206, the June 30 low;
    • EUR/GBP -0.7% at 0.8453, with support at 0.8406 in focus
    • GBP sees relief rally as Theresa May set to become new PM, but may be short-lived, Commerzbank says
    • Amundi’s Bradshaw favors long-dated gilts as BOE easing is on cards
    • Options expiring today include GBP1.34b at 1.3500
  • USD/JPY up 0.5% to 103.36, testing important resistance at 103.39/58
    • Japanese PM Abe ordered Economy Minister Ishihara to compile economic stimulus measures by the end of the month
    • Further easing measures will mainly take the form of credit easing, quantitative easing or fiscal stimulus as an understanding of the limits of monetary policy has increased: Nordea
  • EUR/USD up 0.5% to 1.1115 vs 1.1052-1.1126 range
    • Resistance AT 1.1162, 21-DMA
    • IMF urges action on Italy’s bank bail-in; La Stampa reports an agreement to protect MPS bondholders is in sight
    • Any agreement to protect the sub bond holders of Italian banks would reduce the risk of PM Renzi losing the Constitutional referendum in October: Credit Agricole
    • Options expiring today include 1.1050 strikes for EUR1.21b
  • BBDXY down 0.4% to 1,186.86
    • Broad-based USD selling by leveraged, momentum accounts seen versus G-10 currencies in early Europe session, coinciding with headlines on Italy-EU MPS deal, according to an FX trader
  • Fed’s Mester says timing of Fed move depends on how economy evolves; need to consider Brexit in medium-term outlook
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INSIDE TAIWAN: Yield on 20-yr Govt Note Hits New Low; TWD Slips

INSIDE TAIWAN: Yield on 20-yr Govt Note Hits New Low; TWD Slips

(Bloomberg) -- Long-end of Taiwan govt bond curve rises after sentiment boosted by record-low yield of 20-yr note.
  • Yield of 20-yr Taiwan govt bond edges down 0.25 bp to record low at 1.21%
    • Yield of 10-yr note closes 1 bp higher at 0.674% after rising as much as 1.85 bps to 0.682% earlier
  • Sentiment at long-end of the yield curve is boosted by a record-low yield of 10-yr govt note yday, says Tobby Lin, deputy manager of fixed income at Yuanta Sec Invest Consulting
    • Demand is high for fixed income assets but further yield decline of 10-yr note would be slower given it’s already in record-low territory and investors less willing to buy at higher prices
    • Expects yield of 10-yr note to trade within 0.65%-0.69% this week; yield of 5-yr within 0.47%-0.5% range
  • CBC raises overnight guiding rate to 0.179%, people with knowledge of the matter say
  • Taiwan to sell NT$30b ($932m) of 20-yr bonds on Thursday
  • TWD falls 0.02% to 32.220 per dollar, echoing weakness in KRW and JPY today
  • Overseas investors buy local stocks for third consecutive day, net investing NT$12.5b ($388.2m) today; Taiex index advances 0.6% to close at 8,841.46
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Tobby Lin (Yuanta Securities Co Ltd)

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UUID: 7947283