HALISTER: Sempra CEO Gets Biggest Bonus Ever After Biggest Gas Leak Ever

Sempra CEO Gets Biggest Bonus Ever After Biggest Gas Leak Ever

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
SRE US (Sempra Energy)

People
Alan Boeckmann (Eisenhower Medical Center)
Doug Kline (Sempra Energy)
Julie Gorte (Pax World Management LLC)
Lynn Schenk ((CA)Office Of The Governor)
Michael Pryce-Jones (CTW Investment Group)

Topics
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UUID: 7947283

HALISTER1: Brazil Market Prices In Impeachment; Temer Focus Grows: Analysts

Brazil Market Prices In Impeachment; Temer Focus Grows: Analysts

(Bloomberg) -- Trends in Brazilian assets will begin to reflect the market’s perception of a potential new government led by VP Michel Temer as odds of an impeachment of President Rousseff rise, according to analysts.
  • Mkt already priced in Rousseff govt end, Jose Marcio Camargo, parter at Opus Gestão de Recursos and professor at PUC University at Rio says in a phone interview
  • Market optimism may increase should Temer implement fiscal reforms included in PMDB program called “A Bridge for The Future”
  • Despite challenges also seen in a Post-Rousseff scenario, including the continuation of Carwash probe, mkt will at least see a possibility for improvements that won’t be present if Rousseff maintains power, Camargo says
  • NOTE: Camargo is among economists in contact with Temer’s fellow party members giving ideas for potential new govt
  • PMDB meeting tomorrow to discuss dropping support of Rousseff govt adds to BRL gains; move boosts impeachment case, Eduardo Longo, FI manager at Quantitas says
  • Along with U.S. Fed rates, political scenario remains as key driver for Brazilian assets, Leonardo Monoli, partner and director at Jive Asset Gestao de Recursos says
    • Brazil is in stand-by mode while economy sinks; if PMDB confirms split of the current govt at meeting tomorrow, mkt will look for an eventual new coalition and implications of its plans, Monoli says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jose Camargo (Opus Gestao de Recursos Ltda)
Michel Temer (Federative Republic of Brazil)
Dilma Rousseff (Federative Republic of Brazil)
Eduardo Longo (Quantitas Gestao de Recursos SA)
Leonardo Monoli (Jive Asset Gestao de Recursos Ltda)

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UUID: 7947283

HALISTER1: UST 2Y Auction Faces Valuation Hurdles, BMO Says

UST 2Y Auction Faces Valuation Hurdles, BMO Says

(Bloomberg) -- While $26b sale at 1pm ET should “go OK” based on recent yield backup and “what we believe are increasing shorts in Treasuries,” from an RV or flows perspective “there isn’t a whole lot that looks attractive,” BMO strategists Aaron Kohli and Neil Bouhan say in note.
  • Primary dealer positions “are looking historically long”
  • Yellen speaks at 12:20pm ET tomorrow, which may necessitate a yield premium
  • 2s recently have outperformed 3s and 5s on curve
  • Real 2yr yields “look somewhat rich”
  • Possibility of an unscheduled reopening, which would cheapen the issue
  • Flows negative in past month for iShares 1-3 Year Treasury Bond ETF (SHY US)
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SHY US (iShares 1-3 Year Treasury Bond ETF)

People
Aaron Kohli (Bank of Montreal)
Neil Bouhan (Bank of Montreal)

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UUID: 7947283

HALISTER1: RATES: ‘Optimistic’ on 2Y Auction, CRT Says

RATES: ‘Optimistic’ on 2Y Auction, CRT Says

(Bloomberg) -- UST 2Y trading “slightly higher” today, “failing to price in an outright concession,” although it’s underperforming on the curve and “offering a modest accommodation,” CRT strategist Ian Lyngen says in note.
  • “Optimistic” for $26b auction 1pm ET amid “broader risk- asset profile,” and “tendency for this benchmark to meet strong demand”
  • “Relatively low net new cash needs” at $17.9b (lowest since July) and $70.1b of nominal maturities “will provide plenty of cash in the front-end to reinvest”
  • WI suggesting highest yielding 2Y auction this year is a “dynamic that might bring in otherwise sidelined non-dealer bidding”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Ian Lyngen (CRT Capital Group LLC)

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UUID: 7947283