HALISTER1: MYR Extends Gain; USD Sold on Current-Account Surplus: Trader

MYR Extends Gain; USD Sold on Current-Account Surplus: Trader

(Bloomberg) -- USD/MYR sold by banks with investors focused on Malaysia’s better-than-forecast current-account surplus, according to Asia-based FX trader.
  • Spot USD/MYR down 1.5% to 4.1558
  • Yield on nation’s 3.955% bond due Sept. 2025 down 1 bp to 3.917%
  • Malaysia 4Q surplus MYR11.4b vs MYR8.1b est; 4Q GDP +4.5% vs est. +4.1%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: Japanese Likely Sold Foreign Debt on Yen’s Sharp Rise: BofAML

Japanese Likely Sold Foreign Debt on Yen’s Sharp Rise: BofAML

(Bloomberg) -- Japanese investors likely either cut losses or took profits on their overseas bond holdings on the back of yen’s sharp gains, says Shuichi Ohsaki at Bank of America Merrill Lynch, referring to MOF data released earlier today.
  • Sharp drop in USD/JPY basis swaps may have also contributed to some unwinding of those holdings, says Ohsaki, chief Japan rates strategist at BofAML, in an interview; NOTE: Japanese investors were net sellers of 1318.3b yen ($11.6b) in overseas long-term bonds and notes during week ended Feb. 12, most since June 12, 2015: data from Ministry of Finance
  • This data also suggest that foreign investors’ purchases of JGBs probably led to declines in 2-, 5- and 10-year yields to record lows last week: Ohsaki; NOTE: Foreign investors bought 1146.5b yen in Japanese bonds last week, most since Aug. 14, 2015
  • Sees focus on results of today’s 5-year JGB auction for whether overseas investors show demand despite yield of -0.150% in secondary market
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Shuichi Ohsaki (Merrill Lynch Japan Securities Co Ltd)

To de-activate this alert, click here

UUID: 7947283

HALISTER: Anglo Said to Work With Bank of America on More Coal-Mine Sales

Anglo Said to Work With Bank of America on More Coal-Mine Sales

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AAL LN (Anglo American PLC)
BAC US (Bank of America Corp)

People
Mark Cutifani (Anglo American PLC)
Michael Davis (United Jewish Israel Appeal)
Nathan Tinkler (Australian Pacific Coal Ltd)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER1: INSIDE ASIA: Ringgit Gains; Australian Jobs Data Misses Estimate

INSIDE ASIA: Ringgit Gains; Australian Jobs Data Misses Estimate

(Bloomberg) -- Malaysia’s ringgit and Indonesia’s rupiah lead most Asian currencies higher, tracking regional equities; sovereign bonds fall in Australia while interest-rate swaps advance in South Korea.
  • Aussie weakens against dollar; Australia’s employment slipped 7,900 in January from a month earlier, missing the median estimate for a 13,000 increase; jobless rate came in at 6%, above the 5.8% expectation
  • Yuan strengthens; China’s consumer prices gained 1.8% in January from prior year, less than the 1.9% median estimate
    • Producer prices dropped 5.3%, beating the 5.4% expectation
    • Economic Information Daily reports that a state researcher at the Chinese Academy of Social Sciences sees 6.7% growth in 2016
    • China Securities Journal reports infrastructure investment may rise more than 15% this year, citing a CICC forecast
  • Japan’s 10-year bonds rise; nation’s exports fell 12.9% in January from year earlier, more than the 10.9% median estimate and the biggest since 2009
    • Imports decreased 18%, leaving trade deficit of 645.9b yen
    • Nikkei reports Prime Minister Abe will avoid further stimulus measures for now
    • Japanese investors were net sellers of 1.3t yen in overseas bonds and notes during week ended Feb. 12, most since June, according to figures released by the Ministry of Finance
  • Kiwi advances; New Zealand producer output prices declined 0.8% on milk and fuel in fourth quarter from prior three months, when they increased 1.3%
  • U.S. Treasuries rise, with yield on 10-year sliding 1 bp to 1.809% in Asian trading; Federal Reserve Bank of St. Louis President Bullard says recent market turmoil gives central bank scope to delay interest-rate increases
  • Ringgit surges, set to snap two-day loss; Malaysia’s economic growth may have slowed to 4.1% in fourth quarter, a survey suggests
    • 2015 GDP growth seen at 4.9%, based on separate poll; both data points are due today
  • Rupiah advances for the first time in three days; Bank Indonesia may trim reference rate by 25 bps today to 7.00%, according to 17 of 28 economists surveyed by Bloomberg
CURRENCY TECHNICALS:
  • Click here to see pivot point and multiple support as well as resistance points for majors/Asian currencies
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283