HALISTER: Gold Rises Most Since 2008 Crisis as Investors Seek Brexit Haven

Gold Rises Most Since 2008 Crisis as Investors Seek Brexit Haven

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
ABX CN (Barrick Gold Corp)
NEM US (Newmont Mining Corp)

People
Barnabas Gan (Oversea-Chinese Banking Corp Ltd)
Daniel Marburger (Jewellers Trade Services Partners LP)
David Cameron (United Kingdom of Great Britain and Northern Ireland)
David Govett (Marex Financial Ltd)
Mark O'Byrne (Goldcore Ltd)

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UUID: 7947283

HALISTER1: FATF Keeps Iran on Blacklist Another Year, Warns on North Korea

FATF Keeps Iran on Blacklist Another Year, Warns on North Korea

(Bloomberg) -- The Financial Action Task Force decided to keep Iran on its blacklist of high-risk countries even as it welcomed the country’s moves to introduce anti-money laundering and anti-terror finance measures.
  • FATF urged countries to be on guard against North Korea, which is also on the same blacklist, as the country attempts to bypass UN sanctions to fund its nuclear weapons program
  • “The FATF welcomes Iran’s adoption of, and high-level political commitment to, an Action Plan to address its strategic” anti-money laundering and anti-terror financing deficiencies, the organization said at the end of its meeting in Seoul
  • FATF will suspend special restrictions against Iran for 12 months. If FATF determines that Iran has not demonstrated sufficient progress in implementing the action plan at the end of that period, FATF’s call for counter measures will be reimposed
  • NOTE: FATF draws its 37 members mainly from the Paris-based Organization for Economic Cooperation and Development. Other members include China, the European Commission and the Gulf Cooperation Council
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Brazil Will Take a While to Regain Investment Grade: Fitch

Brazil Will Take a While to Regain Investment Grade: Fitch

(Bloomberg) -- Outlook for Brazil is still negative, Fitch director Jayme Bartling said at an event in Sao Paulo.
  • Brazil needs to overcome political instability
  • We must wait to see the impact that measures announced by the govt will have on the Brazilian economy
  • Business environment in Brazil have worsened, drop in commodity prices also weigh on economy
  • NOTE: Brazil Govt Said to Expect Possible Investment Grade Return in ’17: Estado
  • NOTE: Fitch rates Brazil BB
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jayme Bartling (Fitch Ratings Ltd)

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UUID: 7947283

HALISTER: Italian, Spanish Banks Are Main Takers of New ECB Loan Program

Italian, Spanish Banks Are Main Takers of New ECB Loan Program

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
2539Z GR (European Central Bank)
SAN SM (Banco Santander SA)
ISP IM (Intesa Sanpaolo SpA)
BBVA SM (Banco Bilbao Vizcaya Argentaria SA)
UCG IM (UniCredit SpA)

People
Fabrizio Bernardi (Fidentiis Equities SV SA)
Flavio Borghese (Banca Monte dei Paschi di Siena SpA)

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UUID: 7947283

HALISTER1: FOMC to Stand Pat in July, Sept.; 50% Odds of Dec.: Renaissance

FOMC to Stand Pat in July, Sept.; 50% Odds of Dec.: Renaissance

(Bloomberg) -- Fed might hike in Dec. if labor mkt recovers over summer, tracking estimates of GDP remain ~2% and financial conditions ease, Renaissance Macro Research economist Neil Dutta writes in note.
  • About even odds of a Dec. hike
  • Brexit will impact U.S. economy across “multiple dimensions,” though not expecting recession
  • U.S. GDP will take hit of anywhere from 0.2-0.6ppts over next yr, with impact on trade, USD and confidence; growth could slow to 1.5%
    • Much depends on how long shock to financial mkts persists
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Neil Dutta (Renaissance MacRo Research LLC)

Topics
BGOV Finance

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UUID: 7947283