HALISTER1: PHILIPPINES PREVIEW: Price Increases Seen Picking Up in March

PHILIPPINES PREVIEW: Price Increases Seen Picking Up in March

(Bloomberg) -- Philippines’ CPI probably rose at a faster pace in March as oil prices recover and food costs increase, according to economists’ forecasts.
  • Consumer prices rose 1.1% y/y following a 0.9% gain in Feb., median est. in Bloomberg survey shows; ests. range from 0.9% to 1.3%; data due 9am local time tomorrow
  • Department of Finance expects inflation to climb to 1.1% in March, Philippine Star reported on April 1
  • Despite the expected pickup, inflation would still be below BSP’s target range of 2%-4% for the 11th straight month
  • CPI hit a record low of 0.4% in Sept. and Oct. last year, according to data going back to 1994
  • In Feb., prices rose less than median est. in Bloomberg survey, data released on March 4 showed
    • Peso strengthened 0.3% on that day to close at 46.955 per dollar; now at 45.970
  • Brent crude oil futures for rose 8.3% last month to close at $40.33/bbl; now at $38.33
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Blackstone in Deal to Buy HPE Stake in Mphasis for $825 Million

Blackstone in Deal to Buy HPE Stake in Mphasis for $825 Million

Alert: HALISTER
Source: BN (Bloomberg News)

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BX US (Blackstone Group LP/The)
MPHL IN (Mphasis Ltd)
HPQ US (HP Inc)

People
Margaret Whitman (Hewlett Packard Enterprise Co)
Rajesh Ghai (Macquarie Group Ltd)

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UUID: 7947283

HALISTER1: INSIDE ASIA: Aussie Falls After Feb. Retail Sales Miss Estimate

INSIDE ASIA: Aussie Falls After Feb. Retail Sales Miss Estimate

(Bloomberg) -- Aussie extends decline after Feb. retail sales comes in unchanged from month earlier, missing median forecast for 0.4% increase.
  • AUD/USD falls, heading towards sell stop-loss orders after weak data, an Asia-based FX trader says
    • Australia building approvals gained 3.1% in February on month, more than forecast 2.5% advance; Melbourne Institute inflation gauge unchanged in March from month earlier when it fell 0.2%
  • Yen strengthens for second day against dollar after Bank of Japan’s Tankan report shows companies see prices rising 0.8% in 1 year, down from a forecast of 1% in Dec.
    • Monetary base increased 28.5% in March from year earlier
  • Ringgit climbs to strongest level since Aug. as foreign funds are net buyers of Malaysian shares for second month in March, purhcasing 6.1b ringgit ($1.58b) of equities, data from Kuala Lumpur stock exchange website show
  • Won lead gains among Asian currencies after foreign direct investment into South Korea increased 19.3% in first quarter to $4.24b from $3.55b a year earlier, Ministry of Trade, Industry and Energy says
  • U.S. Treasuries advance and yield on 10-year bonds decline 1bps to 1.762%
    • Factory orders due today may show Feb. output decreased 1.8% from month earlier when they increased 1.6%: Bloomberg survey
  • Singapore dollar rallies; March purchasing managers index probably rose to 48.9 from 48.5 prior month: Bloomberg survey
  • Onshore financial markets are closed in Hong Kong, Taiwan and China
  • Taiwan’s National Financial Stabilization Fund should end support after stock market improved, Economic Daily News reports
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
8301 JP (Bank of Japan)

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HALISTER1: RBA PREVIEW: Stevens Hands May Be Tied Ahead of Budget, Election

RBA PREVIEW: Stevens Hands May Be Tied Ahead of Budget, Election

(Bloomberg) -- RBA could be sidelined, awaiting the outcome of the May 3 budget to see how much heavy lifting is required of monetary policy, writes Bloomberg strategist Michael G Wilson.
  • RBA will leave its benchmark rate unchanged tomorrow, according to all 26 economists surveyed by Bloomberg; announcement due at 2:30pm Sydney time
  • RBA governor Stevens has signaled that Aussie strength may be getting ahead of itself
    • Leveraged funds’ net AUD longs rose to 22,933 contracts in the week ended March 29, highest since Sept. 2014, from 18,377: CFTC data
  • At an ASIC forum on March 22 Stevens said: “Even with interest rates at already low levels, and public debt higher than it was, there would, in the event of a serious economic downturn, be more room to ease both monetary and fiscal policy than in many, indeed most, other countries.”
  • Stevens may also take into account the performance of kiwi, which is stronger since RBNZ lowered rates on March 10
  • AUD/USD down 0.5% to 0.7640; rising 6% since RBA meeting on March 1
  • NOTE: Michael G. Wilson is an FX strategist who writes for First Word. The observations he makes are his own.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Glenn Stevens (Reserve Bank of Australia)

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