HALISTER1: World Briefing: Brazil: Former C.E.O. Is Sentenced to 19 Years in Corruption Inquiry

World Briefing: Brazil: Former C.E.O. Is Sentenced to 19 Years in Corruption Inquiry

Alert: HALISTER1
Source: NYT (New York Times)

Tickers
PETR4 BZ (Petroleo Brasileiro SA)
ODBE4 BZ (Odebrecht SA)

People
Marcelo Odebrecht (Odebrecht SA)
Sergio Moro (Federative Republic of Brazil)

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UUID: 7947283

HALISTER1: CHINA PREVIEW: Consumer-Price Inflation Seen Steady

CHINA PREVIEW: Consumer-Price Inflation Seen Steady

(Bloomberg) -- Consumer-price increases in China probably rose below 2% for a sixth month in Feb., analysts forecast.
  • CPI rose 1.8%, matching increase in Jan., according to median est. in Bloomberg survey
  • Producer prices may have dropped 4.9% after sliding 5.3% in Jan., according to separate survey; both sets of data due at 9:30 am Shanghai time tomorrow
  • Following recent rebound in steel and coal prices, expect declines in PPI to be milder, CICC writes in note dated March 7
  • Food-inflation tracker rose 4.64% last month vs 3.02% in Jan.; component has about 30% weighting in inflation basket; correlation between food-inflation tracker and CPI at 0.986 in past five years
  • NPC set CPI target for this year at 3%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
004250 KS (NPC)

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UUID: 7947283

HALISTER1: MALAYSIA CENTRAL BANK PREVIEW: A Rate Cut Can Wait Given CPI

MALAYSIA CENTRAL BANK PREVIEW: A Rate Cut Can Wait Given CPI

(Bloomberg) -- Stabilizing global equity markets and with rising Malaysian CPI will likely induce Bank Negara Malaysia to hold its benchmark interest rate today, Bloomberg strategist David Finnerty writes.
  • Overnight policy rate to remain at 3.25%, according to all 20 economists in Bloomberg survey; decision due at 6pm local time
  • At its last meeting Jan. 21, the central bank said “there are heightened risks in the global economic and financial environment"; since that meeting, global equity markets have rebounded, indicating easier policy may not be needed now
  • Jan. CPI rose 3.5% y/y, and BNM Gov. Zeti said Jan. 28 it may exceed 4% in 1Q, suggesting little pressure for an immediate rate cut
  • Malaysian export weakness continued in Jan. with exports declining 2.8% y/y; Bank Negara Malaysia however said that month that growth remains driven by domestic demand, indicating soft exports alone may be insufficient to warrant easing
  • NOTE: David Finnerty 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

HALISTER1: Aussie Bond Curve Flattest in Eleven Months as 10-Yr Yield Slips

Aussie Bond Curve Flattest in Eleven Months as 10-Yr Yield Slips

(Bloomberg) -- Spread between 3- and 10-year Australia government bond yields now 60bps, least since April; see chart here.
  • Aussie curve tracking U.S. bond curve which is approaching tightest level for 8 years; see trend here
  • 10-year govt. bond yields fall 1bp to 2.549%
  • 3-year yield steady at 1.948%
  • NOTE: Jan. home-loan approvals fall 3.9% m/m; est 3% fall
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Japan’s Bonds Drop; 20-Year Yield Rises for First Time in March

Japan’s Bonds Drop; 20-Year Yield Rises for First Time in March

(Bloomberg) -- Yield on Japan’s 20-year govt bond climbs 6 bps to 0.365%, poised to snap seven straight days of declines; 10-year yield rises 4.5 bps to -0.050%.
  • 5-year yield adds 2.5 bps to -0.200% before finance ministry auctions 2.5t yen ($22.2b) of similar-maturity debt tomorrow
  • There’s pressure for correction resulting from rapid gains in bonds yesterday, Mitsubishi UFJ Morgan Stanley Securities writes in note today; says, in the past, Japanese and German yields rebounded sharply 25-30 business days after BOJ began QQE in April 2013 and ECB started QE in March 2015, respectively; adds it’s been 27 business days since BOJ adopted negative-rate policy
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: RBNZ PREVIEW: Desire for Lower Kiwi May Feature in Statement

RBNZ PREVIEW: Desire for Lower Kiwi May Feature in Statement

(Bloomberg) -- An expected dovish RBNZ statement at tomorrow’s policy meeting may give an insight into the extent of the central bank’s concerns about the elevated kiwi dollar, according to Bloomberg strategist Michael G Wilson.
  • Market pricing from N.Z. OIS currently shows 31.8% probability of a cut tomorrow, loosely in line with Credit Suisse’s index of same
  • 15 of 17 economists in Bloomberg survey see RBNZ leaving rates unchanged tomorrow; decision due at 9:00am local time
  • To deal with NZD’s appreciation since its last meeting, RBNZ may opt to:
    • Lower the 90-day rate profile
    • Allude to waiting for ECB and PBOC decisions before deciding to act, thus creating an air of immanency to their own decision which may help avoid relative tightening
    • Stress on deterioration in global growth and sentiment, recently underscored by China and Japanese data while toning down any focus on encouraging domestic data
  • RBNZ may increase dovish slant by tweaking January’s statement from “further policy easing may be required” to mimic October’s comment that “some further reduction in the OCR seems likely”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Fla. Man Gets 14-Year Sentence in $12M Medicare Scam

Fla. Man Gets 14-Year Sentence in $12M Medicare Scam

Alert: HALISTER1
Source: BNA (Bloomberg BNA)

Tickers
1070L US (United States District Court for the Northern District of New York)
1104L US (United States District Court for the Western District of Washington)

People
Steven Merryday ((US)Dist Court:)

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UUID: 7947283