HALISTER: Italy Said to Weigh Rules Making Layoffs Easier for Bank M&A (1)

Italy Said to Weigh Rules Making Layoffs Easier for Bank M&A (1)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
ISP IM (Intesa Sanpaolo SpA)
BP IM (Banco Popolare SC)
UBI IM (Unione di Banche Italiane SpA)

People
Matteo Renzi (Republic of Italy)
Fabrizio Bernardi (Fidentiis Equities SV SA)

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UUID: 7947283

HALISTER1: Akzo Nobel May Refinance Debt as Interest Rates Are Attractive

Akzo Nobel May Refinance Debt as Interest Rates Are Attractive

(Bloomberg) -- There’s no necessity to refinance debt that’s maturing this year, but company may decide to refinance due to low interest rates, Maeelys Castella, CFO of Akzo Nobel, says during press conference in Amsterdam.
  • Akzo has EU339m in debt maturing this year
  • CEO Ton Buechner says he still sees room for further efficiencies in all its divisions
  • NOTE Earlier: Akzo sees ‘challenging’ year after profit misses estimates
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
AKZA NA (Akzo Nobel NV)

People
Maeelys Castella (Akzo Nobel NV)
Ton Buechner (Akzo Nobel NV)

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UUID: 7947283

HALISTER: HSBC Board Said to Meet Sunday to Mull Headquarters Decision

HSBC Board Said to Meet Sunday to Mull Headquarters Decision

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
HSBA LN (HSBC Holdings PLC)

People
Douglas Flint (HSBC Holdings PLC)
George Osborne (United Kingdom of Great Britain and Northern Ireland)
Gillian James (HSBC Holdings PLC)
Iain MacKay (HSBC Holdings PLC)
Stuart Gulliver (Hongkong & Shanghai Banking Corp Ltd/The)

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UUID: 7947283

HALISTER1: Position for Possible 15-20bp Pullback in 10Y Bund Yields: SG

Position for Possible 15-20bp Pullback in 10Y Bund Yields: SG

(Bloomberg) -- Short-term conditions in bund yields have become extremely overbought; risk of a correction is significant, writes Societe Generale strategist Jamal Meliani, in a client note.
  • Buy the April 160.50-159-158 put ladder at ~3c; target 30c, stop -10c
    • Trade is delta neutral at inception, gamma negative and theta positive
  • Risks: Beyond 156.50, losses are potentially unlimited which may occur with a dramatic improvement in the risk complex that leads to a rapid and sustained sell-off over a very short span
    • Struggle to see what grand plan could rapidly turn around global conditions, though hopes are building for coordinated action at the G-20 meeting
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jamal Meliani (Societe Generale SA)

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UUID: 7947283