HALISTER1: Colombia Attractive Among EM Oil-Exporting Countries: Barclays

Colombia Attractive Among EM Oil-Exporting Countries: Barclays

(Bloomberg) -- Continues to recommend Colombia within oil exporters, analysts led by Aziz Sunderji write in emerging-markets credit report.
  • Recommends concentrating exposure in Colombia 2037s, 2041s, or 2044s for a bullish view (2045 bonds seen too rich)
  • Uruguay 2024s seen particularly expensive; curve too steep, recommends switching from 2024s or the 2027s into 2050s
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Aziz Sunderji (Barclays PLC)

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UUID: 7947283

HALISTER1: 7Y Valuation ‘Slightly Stretched’ Before Auction, Nomura Says

7Y Valuation ‘Slightly Stretched’ Before Auction, Nomura Says

(Bloomberg) -- $28b auction at 1pm ET also may get less benefit from month-end extension bid than previous sales because of “reduced gross supplies on the belly and long end,” and March jobs report risk, Nomura strategists say in unsigned note.
  • They expect “healthy takedown,” however, because “the 7yr also looks attractive versus the 5yr, and weak demand on 5yr usually led to a better auction on 7yr a day after in recent history”
  • Auction has additional support from Yellen’s “dovishness on the economic outlook and cautious stance on inflation”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Bank of America Top FICC Salesman Weadock to Take Personal Leave

Bank of America Top FICC Salesman Weadock to Take Personal Leave

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BAC US (Bank of America Corp)
C US (Citigroup Inc)
CSGN VX (Credit Suisse Group AG)
JPM US (JPMorgan Chase & Co)
MS US (Morgan Stanley)

People
Bryan Weadock (Merrill Lynch & Co Inc)
Karen Fang (Merrill Lynch & Co Inc)
Sanaz Zaimi (Merrill Lynch & Co Inc)
Anthony Bugliari
Dan Crowley (Barclays PLC)

Topics
Who's News - People

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UUID: 7947283

HALISTER1: UST MORNING CALL: ‘April Hike Completely Off the Table’

UST MORNING CALL: ‘April Hike Completely Off the Table’

(Bloomberg) -- “The Fed has effectively taken an April hike completely off the table and we’ll argue done some significant damage to any chance of a June hike,” CRT strategist David Ader says in note.
  • “In the absence of a June move, the September 21 meeting starts to look like an attractive inflection point –- data contingent of course –- if for no other reason than we’re getting into the election and year-end considerations”
  • Other observations from strategist morning notes:
  • FTN (Jim Vogel): “Selling should become a bit brisker at 1.795%” on the 10Y, “but the overall message is yields are back to familiar territory with little need to make big moves in fixed income before new econ data sheds light on whether March activity can keep Q1 GDP close to 2.0%”
  • Marty Mitchell (independent): “Look for a good underlying bid to support the bond market and for any pullback to be shallow in the near-term,” and UST “yield curve to maintain a steepening bias as we head toward the off-cycle refunding in early April”
  • Seaport Global (Tom di Galoma): “Month-end duration adjustments continue to play a role in strengthening bond prices; however, looking out short-term I expect some tactical selling to take place around the 1.8% level on 10yrs due to credit supply and prior to NFP on Friday”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
David Ader (CRT Capital Group LLC)
Jim Vogel (Ftn Financial)
Marty Mitchell (The Mitchell Market Report LLC)
Tom Di Galoma (Seaport Group LLC/The)

Topics
UST Morning Call

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UUID: 7947283

HALISTER: Icahn Wins on AIG Pay as Credit Swaps No Longer Tied to Awards

Icahn Wins on AIG Pay as Credit Swaps No Longer Tied to Awards

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AIG US (American International Group Inc)
IEP US (Icahn Enterprises LP)

People
Carl Icahn (Icahn Enterprises Holdings LP)
Doug Dachille (American International Group Inc)
John Paulson (Paulson & Co Inc)
Peter Hancock (American International Group Inc)
Philip Fasano (American International Group Inc)

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UUID: 7947283