Halister News

(Bloomberg) -- AHE surprises “have been more impactful on market repricing of Fed hikes/front-end” than payroll surprises post-election as focus “has shifted to quality of jobs and wage-growth,” Nomura strategist George Goncalves says in June 30 note.

• NFP surprises vs yield moves beta fell to -2.9bp per 100k, R2 to 0.19 in recent months, “essentially non-existent” relationship
• Markets “more reactive” to inflationary surprises than employment surprises, “increasingly focusing on wage growth” given soft inflation readings, solid jobs creation
• Longer-end duration “reacts more favorably” to AHE miss
• 10-year UST had “much higher likelihood of being well bid if AHE continued to surprise on downside” from 2010-13

To contact the reporter on this story: Anna Windemuth in New York at awindemuth1@bloomberg.net To contact the editors responsible for this story: Boris Korby at bkorby1@bloomberg.net Jenny Paris

(Bloomberg) -- Jana Partners has taken about a 5% stake in EQT Corp. and wants the company to fully separate its pipeline operations instead of buying Rice Energy, WSJ reports, citing unidentified people familiar with the matter.

• Aims to make EQT a pure E&P company
• EQT not immediately available to comment; Rice declined to comment: WSJ
• NOTE: EQT climbed 4.1% in pre-market trading; Rice sank 6.1%
• NOTE: June 20, With Rice Merger, EQT Gets to Bore Longer Wells in the Gas Patch

--LEE SPEARS

(Bloomberg) -- Opposition party lays charges against Mineral Resources Minister Mosebenzi Zwane, Atul Gupta, Ajay Gupta, Rajesh Gupta and others with the South African Police Service, Democratic Alliance says in emailed statement.

• Charges include racketeering, money laundering, assisting another to benefit from the proceeds of unlawful activities and submitting false tax returns
• “This follows revelations that public funds, meant to assist the poor, were allegedly washed through a complex web of front companies, and used to pay for Vega Gupta and Aakash Jahajgarhia’s wedding at Sun City in 2013”
• NOTE: Zwane at the time was Free State MEC for Agriculture; he and the Gupta family have denied wrongdoing
• NOTE: June 30, KPMG Watched as Guptas Moved S. Africa Public Funds for Wedding Link