HALISTER: Apple Rejected by Top U.S. Court in $450 Million E-Book Case (1)

Apple Rejected by Top U.S. Court in $450 Million E-Book Case (1)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AAPL US (Apple Inc)
AMZN US (Amazon.com Inc)

People
Denise Cote ((US)Dist Court:NY-Southern)
Steven Jobs (Apple Inc)
William Baer (United States Department of Justice)

Topics
BGOV Tech/Telecomm
Bloomberg Politics
TOP BGOV Home

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UUID: 7947283

HALISTER1: Latest End-2016 UST 10Y Yield Forecasts 1.50%-2.75%

Latest End-2016 UST 10Y Yield Forecasts 1.50%-2.75%

(Bloomberg) -- JPM last week lowered its target for second time; at least 8 other banks have cut forecasts in 2016 as 10Y yield fell 61bp through Feb. 11; range compares with 2.25%-3% published in Dec. or earlier in 4Q.
  • BNP
    • 1.50% (lowered from 2.75% on Feb. 18); story link
  • BofAML
    • 2.00% (lowered from 2.65% on Feb. 17); story link
  • Citi
    • 2.05% (lowered from 2.30% on Feb. 12); story link
  • Credit Suisse
    • 2.00% (lowered from 2.45% on Feb. 18, third revision this year); story link
  • Deutsche Bank
    • 1.75% (lowered from 2.25% on Jan. 15); story link
  • Goldman Sachs
    • 2.75% (lowered from 3% on Feb. 5); story link
  • JPMorgan
    • 2.15% (lowered from 2.45% on March 4, second revision this year); story link
  • Societe Generale
    • 2.10% (lowered from 2.75% on Feb. 26); story link
  • TD
    • 2.30% (lowered from 2.50% on Feb. 12); story link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Wells Fargo Sued by SEC Over Bond Offering for Curt Schilling

Wells Fargo Sued by SEC Over Bond Offering for Curt Schilling

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
WFC US (Wells Fargo & Co)
906890Z US (New England Sports Enterprises LLC)
3306921Z US (38 Studios LLC)

People
Curtis Schilling (ESPN Inc)
Andrew Ceresney (US Securities & Exchange Commission/Washington DC)
Keith W Stokes (Rhode Island Economic Dev Corp)
Peter Cannava (Wells Fargo)

Topics
Boston Red Sox
Major League Baseball, x-Stats

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UUID: 7947283

HALISTER1: RATES: Accumulate Duration on Recent Weakness in 10s, DB Says

RATES: Accumulate Duration on Recent Weakness in 10s, DB Says

(Bloomberg) -- Risks to global economy (including uncertainty around China FX policy, impact of ECB stimulus on European bank profitability, and impact of BOJ policy on JPY) “will support long-dated Treasuries in a (bull) flattening bias,” Deutsche Bank strategists led by Dominic Konstam say in March 4 note.
  • For U.S., “key issue is that the Fed doesn’t raise rates in a vacuum of global growth whilst the U.S. growth outlook is at best stable, if not weaker”
  • However there is risks that recent data “could be interpreted by Phillips curve traditionalists as consistent with the need to continue to push rates higher,” which would constitute a policy error and “a negative for risk asset valuations”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Dominic Konstam (Deutsche Bank AG)

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UUID: 7947283

HALISTER1: RATES: U.S.-German 10Y Spread Has Scope to 180bp, TD Says

RATES: U.S.-German 10Y Spread Has Scope to 180bp, TD Says

(Bloomberg) -- U.S.-German 10Y spread, nearly 30bp wider since mid-Feb. “when the market began to price in a greater chance of a March ease” by ECB, “can widen to about 180bp on a policy announcement,” TD strategists led by Priya Misra say in March 4 note.
  • “At that point we would recommend owning Treasuries over bunds as investors should look to move to ‘higher yielding’ Treasuries”
  • TD expects a 20bp rate cut, EUR10b-EUR15b increase in monthly bond purchases and an LTRO
  • This should push German 10Y yield “to record lows in near term,” and to -5bp by end-1Q
  • While USTs “typically lead bunds and in fact all global rates,” there have been “notable exceptions” since late 2014, in particular when ECB QE was launched in early 2015
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)

People
Priya Misra (TD Securities USA LLC)

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UUID: 7947283

HALISTER1: RATES: Enter UST 2/10 Flattener Before March FOMC, Barclays Says

RATES: Enter UST 2/10 Flattener Before March FOMC, Barclays Says

(Bloomberg) -- Amid backup in yields and “potential for a hawkish surprise,” 2/10 curve flatteners “offer an attractive risk-reward” into March FOMC meeting, Barclays strategists led by Rajiv Setia say in March 4 note.
  • “Financial conditions appear to have largely normalized back to the mid-December levels,” and “Fed is likely to signal a tightening bias at the March meeting,” even “as it keeps the target range for the fed funds rate unchanged”
  • However, long-term rates “do not have much room for a large selloff” amid global backdrop, and concerns related to turn in business cycle, oil, low neutral rates and adverse effect of negative interest rates
  • Friday’s payroll report should “alleviate concerns about an imminent slowdown, and bring back questions about when the hiking cycle can resume”; also core inflation has rebounded and breakevens are back to the mid-Dec. levels
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Rajiv Setia (Barclays PLC)

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UUID: 7947283