HALISTER: TAG Heuer Befriends Blue-Haired DJs to Recapture Lost Youth

TAG Heuer Befriends Blue-Haired DJs to Recapture Lost Youth

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
TAGN SW (TAG Heuer International SA)
MC FP (LVMH Moet Hennessy Louis Vuitton SE)

People
Brad Pitt
Ice Cube
Jean-Claude Biver (TAG Heuer International SA)
John Guy (Mainfirst Bank AG)
Kelly Rowland

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UUID: 7947283

HALISTER1: INSIDE ASIA: Yen Rally Spurs Higher Yuan Rate; Thai Output Rises

INSIDE ASIA: Yen Rally Spurs Higher Yuan Rate; Thai Output Rises

(Bloomberg) -- Yen extends rally for a second day, rising to the highest since Oct 2014. Yuan advances after PBOC raises fixing by the most in almost 11 years, keeping pace with its Japanese counterpart post BOJ’s decision yesterday to hold off on more stimulus.
  • PBOC’s strengthening of the yuan against the dollar will help keep it “stable” against a basket of currencies: Gao Qi, EM Asia currency strategist at Scotiabank
    • Momentum of strong Asian currencies is led by yen, which is trading around 107, the highest level vs dollar since Oct 2014: Gao
    • Yen strength could continue and test 105, which was last reached in Oct. 2014: Gao
    • NOTE: Japanese markets are closed for public holiday, with thinner liquidity seen for yen trading, according to trader
  • Taiwan’s preliminary 1Q GDP dropped 0.84% on year vs median estimate of 0.65% drop
    • Given soft external demand and uncertainties about China’s economy recovery, Taiwanese central bank may cut rates in 2Q, says Claire Huang, HK-based economist at Societe Generale
  • Thailand’s baht gains after manufacturing production rises 1.8% on year in March, most since July 2015; median estimate was for 1.6% decline;
    • Other Southeast Asian currencies fall, including peso & rupiah; Bank Indonesia sees 2016 current-account deficit at 2.51% of GDP
  • Won declines after South Korea says March industrial output fell 1.5% on year vs median estimate of a 0.3% gain
    • BOK will continue its accommodative policy stance as recovery pace of economy is “very gradual” and inflationary pressure isn’t large: central bank quarterly monetary policy report submitted to parliament
  • Australia’s PPI rose 1.2% from year earlier in 1Q, slowest gain since 2Q 2015
  • New Zealand’s building permits dropped 9.8% from previous month in March, biggest decline since September 2014
    • Leveraged account buying helping to lift NZD/USD through option offers around 0.6960 strikes, according to an Asia-based FX trader
  • U.S. Treasury futures rise to 130-01+ from 129-30+; data today will probably show U.S. personal spending rose 0.2% from previous month in March, most since November, according to median estimate of economists in Bloomberg survey
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Claire Huang (Societe Generale SA)
Qi Gao (Royal Bank of Scotland Group PLC)

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HALISTER1: INDIA RATINGS: Cesare Bonetti, Sargam India Electronics Raised

INDIA RATINGS: Cesare Bonetti, Sargam India Electronics Raised

(Bloomberg) -- Here’s a roundup of debt-rating changes of Indian cos.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
UPGRADES
  • Cesare Bonetti
    • Long-term loan facilities raised to B- from D at Crisil
    • Cites timely debt servicing over the past 90 days
  • Sargam India Electronics
    • LT loan facilities raised to BBB- from BB+ at Crisil
    • Cites improvement in liquidity, business risk profile
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283