HALISTER: Celgene, Gilead Said to Join Suitors Weighing Medivation Bids

Celgene, Gilead Said to Join Suitors Weighing Medivation Bids

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GILD US (Gilead Sciences Inc)
CELG US (Celgene Corp)
MDVN US (Medivation Inc)
NOVN VX (Novartis AG)
SAN FP (Sanofi)

People
Jacqualyn Fouse (Celgene Corp)
John Milligan (Gilead Sciences Inc)

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UUID: 7947283

HALISTER1: EUR 5y5y Inflation Swap Supported by Linker Issuance: HSBC

EUR 5y5y Inflation Swap Supported by Linker Issuance: HSBC

(Bloomberg) -- Increased 5Y EUR linker issuance and reduced long-end supply support 5Y5Y inflation forward swaps, HSBC strategist Theologis Chapsalis writes in client note.
  • Flatness of breakeven curves has attracted issuers at the front-end with France, Italy and Spain offering new benchmark linkers during the last 3 months
  • This move should help the breakeven curve steepen and allow for higher 5Y5Y forward inflation swaps
  • On RV, prefer SPGBei breakevens to those of BTPeis but investors seeking even higher DM real yields will have to look outside Europe and U.S.
    • SPGBei21 is ~6bp cheap vs SPGbei19 and SPGBei24 on a seasonally-adjusted BE butterfly, taking into account floor and maturity differentials
    • Italian domestic accounts have been more active with long ASW trades than their Spanish peers
  • New Zealand is particularly interesting due to the level of real yields and the potential for further easing by RBNZ
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Theologis Chapsalis (HSBC Bank PLC)

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UUID: 7947283

HALISTER: Sanofi Files to Replace Medivation’s Board

Sanofi Files to Replace Medivation’s Board

(Bloomberg) -- Sanofi filed consent solicitation with U.S. SEC to remove and replace all members of Medivation’s board of directors, French drugmaker says in statement.
  • Proposed directors include Michael E. Campbell, former CEO of Arch Chemicals
Link to Statement:Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MDVN US (Medivation Inc)
SAN FP (Sanofi)

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UUID: 7947283