HALISTER1: Strong Durable Goods Data May Lift USD Vs Euro, Yen: Citigroup

Strong Durable Goods Data May Lift USD Vs Euro, Yen: Citigroup

(Bloomberg) -- April durable goods orders may become market moving, with Fed speakers highlighting need for improved activity data, Citigroup head of G-10 FX strategy Steven Englander writes in note received today.
  • Greater chance of a June/July hike could translate into higher probability of two Fed hikes this year
    • This could be challenging for EM, but stronger U.S. growth is ultimately more reassuring for global asset markets than weak growth
  • Market expectation is for modest rise in orders
    • Median estimate in Bloomberg survey is +0.5%
    • Citigroup economists see much better outcome of +2.5%, driven by survey indications, lagged effects from USD softness and strong aircraft orders
  • When Fed speakers talk of “data quality” they are looking squarely at housing, which has been doing fine, and investment, which has not
  • Fed officials would like to see some sign of stronger investment, both as a mechanical plus for GDP and to reassure that businesses see some hope for the future
  • EUR/USD steady at 1.1137
  • USD/JPY up 0.2% to 110.15
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)

People
Steven Englander (Citigroup Inc)

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UUID: 7947283

HALISTER1: Nuclear Deal Promised to Spur Investment. Iran’s Still Waiting.

Nuclear Deal Promised to Spur Investment. Iran’s Still Waiting.

Alert: HALISTER1
Source: BN (Bloomberg News)

People
Adam Szubin (Office of Foreign Assets Control)
Bashar Al-Assad (Syrian Arab Republic)
Daniel Glaser (United States Department of the Treasury)
Elizabeth Rosenberg (Center for a New American Security Inc)
George Bush (United States of America)

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UUID: 7947283

(2) *ARTHUR J GALLAGHER TO REPLACE COCA-COCA ENTERPRISES IN S&P 500

*ARTHUR J GALLAGHER TO REPLACE COCA-COCA ENTERPRISES IN S&P 500

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
AJG US (Arthur J Gallagher & Co)
CCE US (Coca-Cola Enterprises Inc)
EDR US (Education Realty Trust Inc)

People
David Blitzer (Standard & Poor's Financial Services LLC)

Topics
Key Comm. Real Estate News
S&P 500 Stock Market Moves

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UUID: 7947283

HALISTER1: DeVry’s Becker Professional Unit to Buy Warburg Pincus’s ACAMS

DeVry’s Becker Professional Unit to Buy Warburg Pincus’s ACAMS

(Bloomberg) -- Becker Professional Education to acquire Association of Certified Anti-Money Laundering Specialists (ACAMS) for $330m in a deal set to close in July.
  • ACAMS expected to generate FY17 rev. in “low” $40m range
  • Deal seen as hurting EPS “modestly” in fiscal 2017, then adding to EPS in fiscal 2018 and beyond
  • Funding from a combination of cash and debt
  • NOTE: ACAMS is a member-driven organization of financial crimes prevention professionals
  • Deal represents “diversification into a new vertical” with a potential total addressable market of >$2b
Statement: Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
DV US (DeVry Education Group Inc)
20326Z US (Warburg Pincus LLC)

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UUID: 7947283