HALISTER1: BCB May Suspend Auctions If Flows Reverse, Ativa Says

BCB May Suspend Auctions If Flows Reverse, Ativa Says

(Bloomberg) -- BCB is likely to define its steps in FX market depending on how flows develop, Paulo Henrique Gouveia, a trader at the brokerage Ativa, says in a phone interview.
  • Inflows led BRL to outperform peers last week; should inflows cease, BCB may stop interventions
  • NOTE: BCB FX reverse swaps auctions helped to weaken the currency from last Friday
    • After decoupling from broad EMFX last week, BRL moves have since been more linked to the external mood, Gouveia says
    • Volatility may ease with BRL new level in the 3.25-3.30/USD range
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Paulo Henrique Gouveia (Ativa SA CTCV)

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UUID: 7947283

HALISTER1: Investors Should Favor Brazil Local Bonds Within EM: SocGen

Investors Should Favor Brazil Local Bonds Within EM: SocGen

(Bloomberg) -- Real yield differentials over UST should narrow on LatAm’s attractive yields, as most commodities expected to rally and LatAm FX to stabilize in next year, analysts from Societe Generale including Frances Cheung and Amit Agrawal say in July 4 report.
  • Brazil and Colombia should benefit the most within Latam
  • Latam real yield spreads over UST should narrow as FX risks are reduced on CMD rally
  • Investors should favor BRL local bonds as more developed market yields go negative, as long as FX risk is manageable
  • Brazil yields should fall in Q3 on lower UST yields and easing inflation
  • Mex bonds likely to move lower along with USD rates this year, and the rate curve may pause flattening as it gradually prices out rate hike expectations in coming months
  • Chile-US real rate spread should remain wide on FX weakness as copper is most at risk of China growth slowdown and CNY depreciation
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
GLE FP (Societe Generale SA)

People
Amit Agrawal (Societe Generale SA)
Frances Cheung (Societe Generale SA)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Factory Orders Due in 5 Minutes

U.S. ECO PREVIEW: Factory Orders Due in 5 Minutes

(Bloomberg) -- Factory orders seen falling 0.8% in May after rising 1.9% in April (forecast range -1.2% to 0%); includes durable and non-durable goods
  • Preliminary data on May durable goods orders showed 2.2% decline amid weakness in business investment
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Goldman Executive Says Prostitutes for Libyan ‘Inappropriate’

Goldman Executive Says Prostitutes for Libyan ‘Inappropriate’

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GS US (Goldman Sachs Group Inc/The)
3399249Z LY (Libyan Investment Authority)

People
Andrea Vella (Goldman Sachs Group Inc/The)
Youssef Kabbaj (Whitestone Group LLC/The)

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UUID: 7947283

HALISTER1: U.S. Structured Finance Newsletter - July 2016

U.S. Structured Finance Newsletter - July 2016

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

People
Charles Weilamann (DBRS Inc)
Chris O'Connell (DBRS Inc)
Christopher D'Onofrio (DBRS Inc)
Claire Mezzanotte (DBRS Inc)
Jerry Van Koolbergen (DBRS Inc)

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

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UUID: 7947283

HALISTER: AmEx Challenges Square, On Deck With Small-Business Loans Online

AmEx Challenges Square, On Deck With Small-Business Loans Online

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AXP US (American Express Co)
SQ US (Square Inc)
ONDK US (On Deck Capital Inc)

People
Karen Mills (United States Small Business Administration)
Kenneth Chenault (American Express Co)
Susan Sobbott (American Express Co)

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UUID: 7947283

HALISTER1: 1MDB probe poses risks for Goldman Sachs

1MDB probe poses risks for Goldman Sachs

Alert: HALISTER1
Source: FTI (Financial Times)

Tickers
0206021D MK (1Malaysia Development Bhd)
3399249Z LY (Libyan Investment Authority)

People
Dennis Kelleher (Better Markets Inc)
Mohd Abdul Razak (Federation of Malaysia)
Sally Yates (United States Department of Justice)

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UUID: 7947283