HALISTER: Deutsche Bank Hires Bodenstein From BNP for Credit Trading Role

Deutsche Bank Hires Bodenstein From BNP for Credit Trading Role

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
DBK GR (Deutsche Bank AG)

People
David Bodenstein (BNP Paribas SA)
Gavin Colquhoun (Deutsche Bank AG)
Charlie Olivier (Deutsche Bank AG)
Fiona Swaffield (RBC Europe Ltd)
John Cryan (Deutsche Bank AG)

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UUID: 7947283

HALISTER1: Long-Term UST Yields ‘Unlikely to Rise Materially’: Barclays

Long-Term UST Yields ‘Unlikely to Rise Materially’: Barclays

(Bloomberg) -- View is based on “expectation of low neutral rates, a non-trivial risk of the business cycle turning sometime over the next couple of years, and negative term premium,” Barclays strategists led by Rajiv Setia say in April 1 note.
  • They continue to recommend being long UST 10Y vs German 10Y, and, based on “potential for long-end driven moves in rates, buying 3m*30y strangles, selling 3m*5y strangles”
  • ECB is “unlikely to take rates further into negative territory,” so bunds have limited room to rally, while a large selloff “is unlikely to be led by the U.S.”
  • U.S curve has steepened on Fed’s dovish shift and “appears a touch too steep”
  • Long end “should drive the curve over the next few months,” has “plenty of room to rally” on U.S. economic weakness or “adverse shock” from EU referendum
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Rajiv Setia (Barclays PLC)

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UUID: 7947283