HALISTER1: CHINA PREVIEW: Consumer Prices Seen Rising to Five-Month High

CHINA PREVIEW: Consumer Prices Seen Rising to Five-Month High

(Bloomberg) -- Rising food prices likely lifted China’s CPI in Jan., while slower manufacturing activity and a drop in metal prices extended decline in producer prices, according to Bloomberg surveys.
  • CPI rose 1.9% y/y last month, according to median est. in survey; ests. of 32 economists range from +1.5% to +2.3%; data due at 9:30am local time tomorrow
  • China food inflation tracker rose to 3.02% in Jan., highest since Aug., from 2.16% in Dec.
  • Correlation between CPI and food tracker at 0.986 in past five years
  • Producer prices likely fell 5.4% y/y in Jan. versus -5.9% in Dec., according to separate survey
  • China’s PPI has been negative since Feb. 2012
  • London Metal Exchange index based on six primary metals fell 1.6% m/m to 2,168.4 in Jan.; correlation between index and China PPI at 0.883 in past five years
  • China manufacturing PMI fell to 49.4 in Jan. from 49.7 in Dec; output component dropped to 51.4 from 52.2 in Dec.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INSIDE MALAYSIA: MYR Slides; Saudi-Russian Oil Deal Disappoints

INSIDE MALAYSIA: MYR Slides; Saudi-Russian Oil Deal Disappoints

(Bloomberg) -- Ringgit retreats in early trading, along with most Asian currencies, after Saudi Arabia and Russia’s preliminary pact falls short of expectations for oil cuts.
  • MYR now down 1.4%, most since Nov. 9, to 4.2108 per dollar
  • Brent crude closed down 3.6% at $32.18/bbl
  • FX pair above its pivot point at 4.1418; support at 4.1268, 4.1000, 4.0582; resistance at 4.1686, 4.1836 has been broken, next is at 4.2254
  • Ringgit 1-mo. NDF slips 0.2% to 4.2142, holding below its 200-DMA of 4.1079 since Oct. 2014; see chart here
  • Nation’s 4Q GDP probably expanded 4.1% y/y, following 4.7% growth in 3Q, according to median est. in Bloomberg survey; data due tomorrow at 12.00pm local time
  • Yield on 3.955% govt bond due Sept. 2025 closed yesterday up 0.5 bps at 3.923%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Icahn, Einhorn Pared Back Apple Stakes Before 2016 Decline Began

Icahn, Einhorn Pared Back Apple Stakes Before 2016 Decline Began

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AAPL US (Apple Inc)
IEP US (Icahn Enterprises LP)

People
Carl Icahn (Icahn Enterprises Holdings LP)
David Einhorn (Greenlight Capital Inc)
Timothy Cook (Apple Inc)

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UUID: 7947283

(2) *CONCHO RESOURCES TO REPLACE PLUM CREEK TIMBER IN THE S&P 500

*CONCHO RESOURCES TO REPLACE PLUM CREEK TIMBER IN THE S&P 500

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
CXO US (Concho Resources Inc)
PCL US (Plum Creek Timber Co Inc)

People
David Blitzer (Standard & Poor's Financial Services LLC)

Topics
S&P 500 Stock Market Moves

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UUID: 7947283