HALISTER1: Kiwi May Reach 0.58 in a Year, RBNZ Seen Cutting Rate: Redward

Kiwi May Reach 0.58 in a Year, RBNZ Seen Cutting Rate: Redward

(Bloomberg) -- It’s time to re-enter short exposure to NZD/USD, as further monetary accommodation will be required this year, Peter Redward, principal at Redward Associates, says in an interview.
  • RBNZ could cut interest rate to 1.75%: Redward
  • There is scant evidence that rising house prices are a threat to the inflation target
    • Peak dis-inflationary impulse from falling energy prices is “now behind us” but inflation remains well below target for a 7th year (excluding GST effects)
  • RBNZ may further tighten macro-prudential measures to ensure financial stability
  • Dairy farmers will post more losses in 2016/17 while credit expansion and falling collateral values are now showing up in rising impairments
  • NZD/USD up 0.1% to 0.6886
  • NOTE: RBNZ next meet on June 9 to set monetary policy; cash rate left at 2.25% last week
  • NOTE: Redward also suggests receiving kiwi 5y5y interest- rate swaps, now at 3.4714%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Peter Redward (Redward Associates Ltd)

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UUID: 7947283

HALISTER1: INSIDE PHILIPPINES: Peso Declines; April CPI Lower Than Expected

INSIDE PHILIPPINES: Peso Declines; April CPI Lower Than Expected

(Bloomberg) -- Peso falls 0.3% to 47.225 per dollar after breaching support at 100-DMA yesterday.
  • April consumer prices rose 1.1% y/y vs est. 1.2%; core CPI 1.5% vs est. 1.6%
  • Front-runner Duterte says central bank and money-laundering watchdog “in hot water” if he becomes president
  • While political uncertainty may affect the peso leading up to the election, this is unlikely to have a lasting impact post-election, writes Bank of Tokyo-Mitsubishi UFJ in a note received yesterday; dollar-side factors will be key, particularly with the probability of a FOMC rate hike in June diminishing and the next hike being pushed further out; BTMU maintains its end-2Q USD/PHP forecast of 47.000
  • Peso 1-mo. forwards little changed at 47.42
  • Global funds were net buyers of $9.4m in local equities yesterday: exchange data
  • Yield on 8% govt bonds due July 2031 falls 1 bp to 4.0200, according to Tradition pricing
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Chevron Case Shows BHP-Vale Can Avoid Brunt of Brazilian Lawsuit

Chevron Case Shows BHP-Vale Can Avoid Brunt of Brazilian Lawsuit

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
CVX US (Chevron Corp)
BHP AU (BHP Billiton Ltd)
VALE5 BZ (Vale SA)
1019Z BZ (Samarco Mineracao SA)

People
Alexandre Chequer (Mayer Brown LLP)
Colin Hamilton (Macquarie Group Ltd)
Felipe Hirai (Bank of America Corp)
Hunter Hillcoat (Investec Ltd)

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UUID: 7947283

HALISTER: Ralph Lauren CEO Shakes Up Management Team as He Pursues Growth

Ralph Lauren CEO Shakes Up Management Team as He Pursues Growth

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
RL US (Ralph Lauren Corp)

People
Stefan Larsson (Ralph Lauren Corp)
Valerie Hermann (Ralph Lauren Corp)
Christine Beauchamp (ANN INC)
Ralph Lauren (Ralph Lauren Corp)

Topics
Who's News - People
Management Changes

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UUID: 7947283