Halister News

(Bloomberg) -- JGBs decline across curve, with 2-year yield rising 2 bps to -0.145%, 10-year yield gaining 1 bp to 0.090% and 30-year yield advancing 1.5 bps to 1.160%.

• “There’s position adjustment-related selling,” says Nobuto Yamazaki, Tokyo-based executive fund manager at DIAM, in an interview; “Markets are focusing on 20-year auction tomorrow and 5-year sale on Feb. 18”
• Adds result of BOJ’s debt purchases in 5- to 10-year tenors was “strong,” although outcome of its buying in shorter- dated sectors was “somewhat weak”
• NOTE: Click here for historical result of BOJ’s bond purchase

(Bloomberg) -- Bank of Korea may signal willingness to tolerate a weaker won to help stimulate growth if it keeps its benchmark interest rate unchanged tomorrow, Bloomberg strategist David Finnerty writes.

• Economic data has weakened since central bank’s meeting in Jan., when it cut its growth and inflation outlook
  • Jan. CPI dropped to 0.0% from 0.3% in Dec.
  • Exports fell 18.5% y/y in Jan. following 14.1% decline in Dec.
  • Manufacturing PMI fell to 49.5 from 50.7 in Dec.
  • Consumer confidence declined to 100 from revised 102
• Rising household debt is a reason why BOK is reluctant to cut rates
• Former board member Kang Myung Hun recently said benchmark interest rate should be lowered as soon as this month to tackle sluggish growth and show that policy makers are doing everything they can to bolster the economy
• BOK is expected to leave its 7-day repo rate at 1.50% according to all 15 economists in Bloomberg survey; decision due tomorrow
• NOTE: David Finnerty is an FX strategist who writes for Bloomberg. The observations he makes are his own and not intended as investment advice.

(Bloomberg) -- USD/TWD falls 1.4% to 33.052, touching its 100-DMA for first time since Jan. 4.

• 100-DMA at 33.073
• Pair headed for lowest close since Jan. 6
• NOTE: Taiwan bond gains drive yield to record low as markets reopen

(Bloomberg) -- A roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES:

• Lotus Farms
  • LT loan facilities cut to D from BB+ at Crisil
  • Cites instances of delay in servicing debt

• Reliance Infrastructure
  • LT loan facilities cut to A- from A at Crisil
  • Expects financial leverage to take longer than expected to correct

UPGRADES:

• Haldia Petrochemicals
  • Term loans revised to BBB from BB+ at ICRA
  • Cites change in management of the co, extension given by Finance Ministry for fulfillment of export obligations

• Oswal Woollen Mills
  • Fund based facilities raised to A+ from A- at ICRA
  • Expects improvement in financial profile over the medium term due to healthy accruals and decline in debt levels

Economic Release Details: {THG PQY Index ECOD} --TONY JORDAN

Economic Release Details: {CNTSTCN Index ECOD} --JEFF KEARNS

Economic Release Details: {CNTSICNY Index ECOD} --JEFF KEARNS

Economic Release Details: {CNTSECNY Index ECOD} --JEFF KEARNS