HALISTER1: Portfolio Managers More Defensive Before Payrolls, SMR Says

Portfolio Managers More Defensive Before Payrolls, SMR Says

(Bloomberg) -- Participants in SMRA Portfolio Manager Survey in week ended March 29 had “small overall shift toward more defensive risk profiles,” and “a tick less positive” near-term rate outlook.
  • Actual/Target Duration (arithmetic): 99.3%
  • Actual/Target Duration (weighted): 99.5%
  • Bull/Bear Index (arithmetic): 4.9,
  • Bull/Bear Index (weighted): 4.6, lowest since Feb. 16
  • Agency allocations: 7.7%, unchanged for 22nd consecutive week matching lowest on record
  • MBS allocations: 23.8%, unchanged at highest since July 21
  • Treasury allocations: 24.2%, lowest since April 2012
  • Corporate allocations: 35.9%
  • Spread product allocations: 70.7%, highest since Feb. 2012
  • Spread expectations: 5.05
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Allergan, Pfizer Get Second Request From FTC

Allergan, Pfizer Get Second Request From FTC

(Bloomberg) -- Request for information was “fully anticipated” as part of regulatory review.
  • Allergan, Pfizer continue to expect deal to close in 2H16
  • NOTE: Earlier, Allergan/Pfizer Receives Taiwan Antitrust Approval; Allergan/Pfizer Receives Ukraine Antitrust Approval
Statement:Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
PFE US (Pfizer Inc)
AGN US (Allergan plc)

Topics
BGOV Health Care

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UUID: 7947283

HALISTER1: Chile’s CMPC Dollar Bonds Cut to Underperform at Gimme Credit

Chile’s CMPC Dollar Bonds Cut to Underperform at Gimme Credit

(Bloomberg) -- Cuts recommendation from outperform after bond’s recent rally, according to note.
  • “Considering the tough competitive landscape in panels and sawn timber, a slump in pulp prices and an increase in capital expenditure, we expect stable to slightly higher leverage ratios in FY16 year-on-year,” analyst Alexandre Dray says
  • NOTE: CMPC 2024s have gained 7.4% YTD
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
CMPC CI (Empresas CMPC SA)

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UUID: 7947283

HALISTER: Terry Gou’s Tenacity Clinched Foxconn Deal to Take Over Sharp

Terry Gou’s Tenacity Clinched Foxconn Deal to Take Over Sharp

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
2317 TT (Hon Hai Precision Industry Co Ltd)
6753 JP (Sharp Corp/Japan)
AAPL US (Apple Inc)
INCJZ JP (Innovation Network Corp of Japan)

People
Gou Tai-Ming (Hon Hai Precision Industry Co Ltd)
Alberto Moel (Sanford C Bernstein & Co Inc)
Atul Goyal (Jefferies Singapore Ltd)
Koichiro Taniyama (Innovation Network Corp of Japan)
Kozo Takahashi (Sharp Corp/Japan)

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UUID: 7947283