HALISTER: Intel Said to Weigh Sale of Cyber Security Unit, FT Says

Intel Said to Weigh Sale of Cyber Security Unit, FT Says

(Bloomberg) -- Co. is looking at options for Intel Security incl. potentially selling antivirus software maker previously known as McAfee, Financial Times says, citing unidentified people close to the discussions.
  • Intel declined to comment to FT
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
INTC US (Intel Corp)

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UUID: 7947283

HALISTER1: RESEARCH ROUNDUP: Fed Hike Outlook ‘in Tatters’ Post-Brexit

RESEARCH ROUNDUP: Fed Hike Outlook ‘in Tatters’ Post-Brexit

(Bloomberg) -- Any “faint prospect” of a Fed July rate increase has entirely vanished, ING economist Rob Carnell wrote in note; longstanding ING call for Sept. hike looks to be “hanging in tatters.”
  • More commentary below about U.S. monetary policy outlook following outcome of U.K. referendum.
  • Fed funds futures price 1st rate hike to 0.50%-0.75% range as more than likely for Nov.-Dec. 2017 as of Fri., compared with Jan. 2017 at Thur.’s close
  • Global mkts roiled by Britain’s vote to leave EU; GBP fell to lowest in more than 30 yrs and stocks tumbled, while demand rose for haven assets
  • BofAML (Ethan Harris, others)
    • Next Fed hike now seen in Dec., not Sept.
    • Brexit vote is another in “long string of confidence shocks,” will reduce U.S. GDP by an est. 0.2ppts over next 6 qtrs
    • Story link
  • BoT-Mits (Cliff Tan)
    • Brexit will tighten financial conditions, mkt reaction is going to possibly be “pretty severe” over next few trading days
    • Story link
  • Janus Capital (Bill Gross)
    • Fed’s dots have no future relevancy
    • Brexit was storming of the gates of finance by populists
    • Story link
  • JPMorgan (Michael Feroli)
    • Fed now seen hiking in Dec., not Sept.
    • There’s “exceptionally low visibility” on monetary policy outlook now
    • Story link
  • Macquarie (David Doyle, Brendan Livingstone)
    • Fed could need mos. to get clear picture about Brexit’s effect on global outlook
    • Unlikely to be full clarity before Sept.
    • Story link
  • Renaissance Macro (Neil Dutta)
    • FOMC to stand pat in July, Sept.; 50% odds of Dec. move
    • Fed might hike in Dec. if labor mkt recovers, estimates of GDP remain ~2%, financial conditions ease
    • Story link
  • Stifel (Lindsey Piegza)
    • Fed “has no other option but to remain on sidelines”
    • Uncertainty, volatility from Brexit takes any near-term hike “off the table”
    • Story link
  • Warburg (Carsten Klude)
    • Fed may lower rates if Brexit-fueled volatility lasts
    • Lowering of rates may occur before autumn if equity mkts experience sustained turbulence
    • Story link
Story Link:NSN O9AMFO6JIJUW
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Rob Carnell (ING Groep NV)
Carsten Klude (Mm Warburg Investment Research)
Cliff Tan (Bank of Tokyo-Mitsubishi UFJ Ltd/The)
David Doyle (Macquarie Group Ltd)
Ethan Harris (Bank of America Corp)

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UUID: 7947283

HALISTER: Deutsche Bank’s Sewing Sees U.K. Banks Hit Hardest by Vote: FAS

Deutsche Bank’s Sewing Sees U.K. Banks Hit Hardest by Vote: FAS

(Bloomberg) -- Banks focused purely on U.K. may be hit hardest by country’s decision to leave EU, at least short-term, Frankfurter Allgemeine Sonntagszeitung cites Deutsche Bank mgmt board member Christian Sewing as saying in interview.
  • Deutsche Bank looks “good” compared with other lenders and co’s home mkt Germany is seen as haven of stability
  • All Europeans lose in U.K. leaving EU though Frankfurt won’t become weaker
  • NOTE: Deutsche Bank CEO: Brexit Consequences Negative for All Sides
  • Postbank unit should be “technically” independent June 30
    • Deutsche Bank probably won’t divest Postbank this yr
  • NOTE: Deutsche Bank Mulling ‘Creative’ Postbank Exit, Cryan Says
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
DBK GR (Deutsche Bank AG)

People
Christian Sewing (Deutsche Bank AG)

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UUID: 7947283