HALISTER1: Risk of a Contractionary Singapore Budget Underpriced: Citigroup

Risk of a Contractionary Singapore Budget Underpriced: Citigroup

(Bloomberg) -- A net fiscal impulse, cost-cutting measures for businesses and households, and subsidies to households are the areas which will have implications for Singapore monetary policy, Citigroup analysts write in note today.
  • SGD now stronger than mid-point of its undisclosed NEER trading band
    • A contractionary Budget may skew the balance of risks in favor of SGD shorts, Citigroup says
  • USD/SGD up 0.3% to 1.3705
  • EUR/SGD up 0.3% to 1.5317
  • NOTE: The Singapore government will present its 2016 budget in parliament at 16:00 local time; see link here
  • See Singapore budget preview here
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INSIDE G-10: Dollar Strengthens Into Easter Break; Stocks Fall

INSIDE G-10: Dollar Strengthens Into Easter Break; Stocks Fall

(Bloomberg) -- USD advances on broad-based buying amid thin liquidity ahead of long weekends in Asia, Europe and U.S.
  • AUD/USD -0.48% to 0.7496 vs 0.7489/0.7538 range
    • AUD/JPY buying gives way to selling by leveraged and macro accounts, traders say
  • NZD/USD -0.19% to 0.6693 vs 0.6690/0.6722 range
    • Global fund selling helped cap pair in early Asia session, trader says
    • N.Z. Feb. trade surplus NZ$339m vs estimate +NZ$90m
  • USD/JPY +0.38% to 112.81 vs 112.30/112.88 range
    • Pair running into year-end offers by Tokyo-based banks, according to an Asia-based FX trader
    • BOJ reduces purchase of long-maturity JGBs from market
    • Nomura cuts USD/JPY forecasts, sees 118 by end-2Q2
    • BOJ turns focus from money supply to holding down rates, Nikkei reports
  • EUR/USD -0.10% to 1.1170 vs 1.1164/1.1186 range
    • Options expiring today include 1.1160 strikes for EUR756m
  • GBP/USD -0.12% to 1.4100 vs 1.4088/1.4121 range
    • $16b of option trades envisage drop to 1980s lows
  • BBDXY rising for fifth day, up 0.14% to 1,200.73
  • U.S. Treasury 10-year yield steady at 1.889%
  • S&P futures fall 5 points to 2,024.30
  • Brent crude +0.1%, gold -0.2%, copper +0.3%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: MORE: Starboard to Nominate Its CEO Smith to Yahoo Board: WSJ

MORE: Starboard to Nominate Its CEO Smith to Yahoo Board: WSJ

(Bloomberg) -- To nominate CEO Jeffrey Smith to Yahoo board, WSJ reports, citing a Starboard letter it reviewed.
  • Other board nominees incl. Tor Braham, Dale Fuller, Richard Hill, Eddy Hartenstein
  • Starboard starting proxy fight over concerns of Yahoo’s core business sale process, board’s reluctance to give it a voice
  • Earlier, Starboard Said to Seek Removal of Entire Yahoo Board: WSJ
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
0290875D US (Starboard Value LP)
YHOO US (Yahoo! Inc)

People
Dale Fuller (Webgistix Corp)
Eddy Hartenstein (Directv Group Inc)
Jeffrey Smith (Starboard Value LP)
Tor Braham (Deutsche Bank AG)

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UUID: 7947283

HALISTER1: Swiss Banks Land in Middle of Money-Laundering Probe -- Again

Swiss Banks Land in Middle of Money-Laundering Probe -- Again

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
PDVSA VC (Petroleos de Venezuela SA)

People
Nicolas Maduro Moros (Bolivarian Republic of Venezuela)
Peter Carr (United States Department of Justice)
Preetinder Bharara (United States Department of Justice)

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UUID: 7947283

HALISTER1: Wall Street’s 0.01%: An Inside Look at Citi’s Secret Client List

Wall Street’s 0.01%: An Inside Look at Citi’s Secret Client List

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
C US (Citigroup Inc)
MS US (Morgan Stanley)

People
Stephen Morris (Citigroup Inc)
Clint Carlson (Carlson Capital LP)
Garth Ritchie (Deutsche Bank AG)
Gregory B Braca (TD Bank NA)
Israel Englander (Millennium Partners LP)

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UUID: 7947283

HALISTER: Starboard Said to Seek Removal of Entire Yahoo Board: WSJ

Starboard Said to Seek Removal of Entire Yahoo Board: WSJ

(Bloomberg) -- Starboard to announce Thursday morning that it will nominate 9 directors to Yahoo’s board, WSJ reports, citing a Starboard letter it reviewed.
  • Yahoo’s board, management have continually failed to live up to their own promises, shouldn’t be trusted with decision on whether Yahoo should remain an independent company: letter
  • Yahoo couldn’t immediately be reached for comment: WSJ
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
YHOO US (Yahoo! Inc)
0290875D US (Starboard Value LP)

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UUID: 7947283

HALISTER1: THAILAND PREVIEW: USD/THB May Climb to 200-DMA If Exports Shrink

THAILAND PREVIEW: USD/THB May Climb to 200-DMA If Exports Shrink

(Bloomberg) -- If Thai customs exports continue to decline in Feb. as expected, USD/THB may advance to 35.512 in near term, Bloomberg strategist Andrew Robinson writes.
  • Median est. in Bloomberg survey has customs exports down 8.70% y/y; they fell 8.91% in Jan., 13th straight month of y/y contraction
    • Ests. for Feb. range from -11.5% to -4.5%
    • Date due at 10:30am local time tomorrow
  • Baht has fallen 1.4% vs dollar in past week, worst performer among 12 main Asian currencies
    • Baht is down 0.5% at 35.277 per dollar today
  • Jan. exports declined more than median est. of -6.45%, data on Feb. 25 showed; USD/THB little changed that day, closing at 35.680
  • Related data may show imports fell 9.90% y/y in Feb. and trade surplus widened to $700m from $238m in Jan., according to separate surveys
  • NOTE: Andrew Robinson is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Affymetrix to Enter Talks With Origin After Takeover Bid Boosted

Affymetrix to Enter Talks With Origin After Takeover Bid Boosted

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AFFX US (Affymetrix Inc)
1043581D US (Origin Technologies Corp)
TMO US (Thermo Fisher Scientific Inc)

People
Eric Criscuolo (Mizuho Financial Group Inc)
Karen Speier (United States House of Representatives)
Marc Casper (Thermo Fisher Scientific Inc)

Topics
Waste & Environ Svcs & Equip

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UUID: 7947283