Halister News

--DEREK WALLBANK

(Bloomberg) -- The yen could strengthen from its current ~110 per dollar rate to 105 in 3-6 months, 100 in 6 months, Ed Al-Hussainy, senior analyst on the global rates and currency team at Columbia Threadneedle, said in an interview.

• Potential for “short squeeze” on yen because bearish positioning is “stretched”
• Sees convergence between U.S. and E.U. rates as gilts and bunds are “overvalued”
• Sees 10-year USTs reaching 2%, bunds 1% in 12-18 months
• Long EM, high-carry currency basket: MXN, TRY, ZAR, PEN, INR, RUB

To contact the reporters on this story: Anna Windemuth in New York at awindemuth1@bloomberg.net; Lananh Nguyen in New York at lnguyen35@bloomberg.net To contact the editors responsible for this story: Boris Korby at bkorby1@bloomberg.net Mark Tannenbaum

(Bloomberg) -- Pfizer indicated $32.95-$32.98 pre-market on ~12k volume vs $32.76 close after BMO analyst Alex Arfaei upgraded to outperform from market perform, PT $37 from $33.

• Expects incrementally positive updates on PFE’s pipeline in the next few years that could "gradually change the narrative" on R&D productivity and M&A dependency
• Co. appears to have a number of potential blockbuster growth opportunities, and does not expect significant impact from loss of exclusivity from 2020-2025
• Drugmaker seems poised for several years of ~2%-3% rev. growth, which along with margin expansion, should lead to high- single-digit EPS growth
• Says large-scale M&A remains a possibility
• NOTE: August 1, Pfizer Full Year Adjusted EPS Forecast Midpoint Tops Estimates
  • Related: Pfizer CEO Read Dashes Hopes for Big M&A in Near Future

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Richard Richtmyer

--CHAD THOMAS