HALISTER: VW Says Bonds Meet ECB Purchase Criteria Ahead of Market Return

VW Says Bonds Meet ECB Purchase Criteria Ahead of Market Return

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
2539Z GR (European Central Bank)
VOW GR (Volkswagen AG)

People
Frank Fiedler (Volkswagen AG)
Andriy Boychuk (UniCredit SpA)
Mario Draghi (European Central Bank)

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UUID: 7947283

HALISTER1: INSIDE MALAYSIA: Ringgit Gains; Short MYR/INR 6-Mo. NDF: NAB

INSIDE MALAYSIA: Ringgit Gains; Short MYR/INR 6-Mo. NDF: NAB

(Bloomberg) -- Ringgit leads Asian currencies higher as Brent crude trades above $50 a barrel for the 1st time in more than six months.
  • Nation’s interest rate still at appropriate level, conducive to growth, Governor Muhammad Ibrahim says
  • BNM to keep cooperating on overseas 1MDB probe; Governor Muhammad comments after Swiss authorities said BSI had acted in serious breach of money-laundering in connection with the Malaysia state investment co.
  • Transfer of assets from 1MDB to Ministry of Finance to be completed by mid-June, and state investment co. will be shell company that will just manage liabilities and bonds, New Straits Times reports, citing deputy finance minister
  • Ringgit rises 0.5% to 4.0850 per dollar, gaining for second day, according to onshore prices.
  • USD/MYR: holding below month’s high, pivoting around 100-DMA
    • Resistance: 4.1298, May 24 high; 4.1375, 50% retracement of Jan. to April drop; 4.1465, March 16 high
    • Support: 4.0910, May 19 high broken; next at 4.0645, May 23 low; 4.0630, May 10 high
  • Short MYR/INR 6-month NDF at 16.88, target 15.20 and stop at 17.20, NAB writes in note today
    • Malaysia faces the prospect of a sharp rise in political risk, which could threaten economic growth and earnings
    • Also, MYR’s carry buffer at the median level, with earnings yield below the median; leaves MYR as a fairly unattractive choice for both the risk averse investor looking for yield, and the risk-loving investor pursuing earnings returns: NAB
  • Yield on 3.9% govt bond due Nov. 2026 little changed at 3.912%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Standard Bank to Hire Compliance Officers After Fines, Fraud

Standard Bank to Hire Compliance Officers After Fines, Fraud

(Bloomberg) -- Standard Bank plans to hire more compliance officers in order to comply with rules aimed at preventing money laundering, fraud, co-CEO Sim Tshabalala says at co.’s AGM in Johannesburg.
  • Co. has 400 compliance officers
  • Standard Bank increased compliance staff by about 300, director Richard Dunne says
  • Compliance team did self-assessment throughout African operations: Dunne
  • Co. has paid about $140m in charges over 2 yrs for penalties, losses related to Chinese warehouses: Finance Director Simon Ridley
  • NOTE: Standard Bank last yr agreed to $36.9 million settlement after employees bribed govt officials in Tanzania; co. last wk said it lost as much as 300m rand to sophisticated fraud syndicate in Japan
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SBK SJ (Standard Bank Group Ltd)

People
Simpiwe Tshabalala (Standard Bank of South Africa Ltd/The)
Simon Ridley (Standard Bank Group Ltd)

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UUID: 7947283

HALISTER1: Korean Won, Taiwan Dollar, Ringgit Forwards Most Active on DTCC

Korean Won, Taiwan Dollar, Ringgit Forwards Most Active on DTCC

(Bloomberg) -- USD/KRW non-deliverable forwards account for 40% of total volume today, according to trades reported to DTCC; USD/TWD second-most active at 17%, USD/MYR third at 15%.
  • Notional amounts traded include:
    • $210m of USD/KRW at 1,183.4934; matures July 7
  • Total volume was $9.9b as of 2:56pm HKT; global total yday was $81.2b, with USD/BRL accounting for 33%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283