HALISTER1: Korea, Singapore Bonds Gain; ING Keeps View to ‘Never Sell’ KTBs

Korea, Singapore Bonds Gain; ING Keeps View to ‘Never Sell’ KTBs

(Bloomberg) -- Yield on South Korea’s 10-yr govt bond slides 12 bps to 1.76%, which would be lowest close on record dating back to Dec. 2000; local markets were closed for past three days for public holidays.
  • “My advice to investors for long time has been never sell a KTB, and I continue to hold that view today” Tim Condon, head of Asian research at ING, says in interview, citing “close parallel” between Korean and Japanese economies. “The worries about growth and the Bank of Korea falling short of its inflation target mandate will keep its bias toward cutting rather than raising interest rates”
  • Singapore’s 10-yr bond yield slips 8 bps to 1.99%, according to data compiled by Bloomberg and central bank; yield hasn’t closed below 2.00% since Feb. 2015
  • When SGD strengthens, short-term rates will come off and that influence extends up curve, says Condon
  • USD/SGD drops as much as 0.4% to 1.3861, lowest since Oct. 23
  • 6-mo. swap-offer rate fell 5 bps to 1.55199% on Feb. 10
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Timothy Condon (ING Groep NV)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: Singapore Interest-Rate Swaps Slide; Curve Flattest Since 2009

Singapore Interest-Rate Swaps Slide; Curve Flattest Since 2009

(Bloomberg) -- Singapore 5-year IRS declines 6 bps to 2.0425%, lowest since early June.
  • SGD 2-year IRS drops 3 bps to 1.7065%, touching an October low
  • Spread between 2-year and 10-year swaps narrows for second day to 76 bps, least since 2009; see chart here
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: INSIDE MALAYSIA: Ringgit Gains; Industrial Output Seen Slowing

INSIDE MALAYSIA: Ringgit Gains; Industrial Output Seen Slowing

(Bloomberg) -- Ringgit rises 0.4% to 4.1038 per dollar; Malaysia’s industrial output probably grew 1.0% y/y in Dec. versus +1.8% in Nov., according to median estimate in Bloomberg survey.
  • Industrial production figure hurt by unfavorable base effect and weak mining activity, Nomura writes in note received yesterday
    • Data due at noon local time
  • PM Najib asks ministers to spend prudently, according to official blog post
  • Pivot point at 4.1393; USD/MYR support at 4.0976, 4.0768, 4.0143; resistance at 4.1601, 4.2018, 4.2643
  • USD/MYR slow stochastics %K at 11, level last seen in April 2015
  • Ringgit 1-mo. NDF little changed at 4.1200
  • Brent crude rose 1.7% yesterday to $30.84/bbl
  • Five-year credit-protection costs for Malaysia declined 8 bps to 192 bps yesterday: CMA data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283

HALISTER: Deutsche Bank CoCo Holders Learn What Regulators Meant by Risk

Deutsche Bank CoCo Holders Learn What Regulators Meant by Risk

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
DBK GR (Deutsche Bank AG)

People
Francois Lavier (Lazard Ltd)
John Cryan (Deutsche Bank AG)
Karen Petrou (Federal Financial Analytics Inc)
Laurent Frings (Aberdeen Asset Management PLC)
Mark Holman (TwentyFour Asset Management LLP)

Topics
Subordinated Debt

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

UUID: 7947283