Halister News

Economic Release Details: {CNLNSFIN Index ECOD} --PENNY PENG

Economic Release Details: {CNLNNEW Index ECOD} --PENNY PENG

(Bloomberg) -- Bund futures (RX1) technical levels in focus.

• Daily Trend Bias: Bullish
• Comment: Topside risks still persist despite second-day pullback; good support comes in at 163.51, the prior breakout zone
  • Resistance: 164.06-12 (gap top, pivot); 164.19; 164.38-44; 164.64-70
  • Support: 163.64; 163.51 (strong); 163.42; 163.33-25 (strong); 163.03
• NOTE: Roll-adjusted by difference in GFUT
• NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice

To contact the reporter on this story: Sejul Gokal in London at sgokal1@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Anil Varma

(Bloomberg) -- At 2.1% levels, Treasury 10-year notes are a sell, says Kenta Inoue, senior market economist at Mitsubishi UFJ Morgan Stanley Securities.

• Once the North Korea-driven risk-off moves subside, investor focus will shift back to Fed’s plan to shrink its balance sheet, Tokyo-based Inoue says by phone
• Ten-year yields will then rebound to 2.3% levels, where investors can build long positions
• Over the long term, slowing inflation expectations will weigh on yields as U.S. consumer prices struggle to rise
• Once U.S. monetary policy normalization comes to an end, long positions on Treasuries will deliver capital and carry gains
• Likelihood of a military conflict between U.S. and North Korea is “quite low”
• North Korea can never be Trump’s main issue because his administration priorities employment generation and a military clash would widen a U.S. fiscal deficit
• NOTE: Ten-year yield adds 2bps to 2.24% Tuesday

To contact the reporter on this story: Masaki Kondo in Singapore at mkondo3@bloomberg.net To contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net Patricia Lui

(Bloomberg) -- "I resigned to call attention to the serious harm our divided political climate is causing to critical issues, including the serious need to address the decline of American manufacturing," CEO Brian Krzanich says in Intel blog post. 

• Says "politics and political agendas have sidelined the important mission of rebuilding America’s manufacturing base"
  • "The current environment must change, or else our nation will become a shadow of what it once was and what it still can and should be"
• NOTE: Earlier, Trump Denounces White Supremacists Amid Backlash to Response
• NOTE: Earlier, Under Armour CEO Quits Trump Council, Joining Merck Chief

To contact the reporter on this story: Jim Jia in Sydney at jjia1@bloomberg.net To contact the editors responsible for this story: Chua Baizhen at bchua14@bloomberg.net Crystal Chui