HALISTER: NEW DEAL: Apple Inc. $Bmark 3y Fxd/Frn, 5y Fxd/Frn , 7y, 10y

NEW DEAL: Apple Inc. $Bmark 3y Fxd/Frn, 5y Fxd/Frn , 7y, 10y

(Bloomberg) -- Offering of up to 6 parts expected to price today.
  • IPTs:
    • 3Y Fxd (05/11/2020): +45a
    • 3Y FRN (05/11/2020): L equiv.
    • 5Y Fxd (05/11/2022): +60a
    • 5Y FRN (05/11/2022): L equiv.
    • 7Y Fxd (05/11/2024): +85-90
    • 10Y Fxd (05/11/2027): +100-105
  • Issuer: Apple Inc. (AAPL)
  • Ratings: Aa1/AA+
  • SEC registered sr unsecured
  • UOP: GCP
  • Par Call: 1-month on 5Y, 2-months 7Y, 3-months on 10Y
  • Bookrunners: GS, JPM, WFS
  • Settlement: 05/11/2017
  • Denoms: 2k x 1k
  • NOTE: Apple reported 2Q earnings May 2; authorized $50b boost to capital return program
  • Information from person familiar with the matter, who is not authorized to speak publicly and asked not to be identified

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
AAPL US (Apple Inc)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Trade Deficit, Jobless Claims Due in 5 Minutes

U.S. ECO PREVIEW: Trade Deficit, Jobless Claims Due in 5 Minutes

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News:
  • Productivity -0.1% q/q; range -0.8% to 0.8% (55 estimates)
  • Unit Labor Costs 2.7% q/q; range 0.5% to 3.7% (47 estimates)
  • Trade Balance -44.5b; range -47.8b to -43.5b (57 estimates)
    • No major revisions to 1Q GDP are expected, based on the March trade report -- Bloomberg Intelligence
  • Initial Claims 248k; range 235k to 255k (48 estimates)
  • Cont. Claims 1990k; range 1990k to 2010k (5 estimates)
    • The 23k increase in jobless claims seen in the previous two weeks is typical around the Easter/spring break period and usually fully reverses within one month -- Bloomberg Intelligence
  • Factory Orders 0.4% m/m; range -0.3% to 1.5% (51 estimates)
  • Durables 0.7% m/m; range -1% to 1% (3 estimates)

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: fastFT: Spain names 7 former HSBC bankers as suspects in money laundering case on.ft.com/2pBIO7Z

fastFT: Spain names 7 former HSBC bankers as suspects in money laundering case on.ft.com/2pBIO7Z

Spain names 7 former HSBC bankers as suspects in money laundering case on.ft.com/2pBIO7Z
fastFT @fastFT
 
Sent With: SocialFlow
 

Original tweet on Twitter.com found here.

Twitter profile information as of May 4, 2017

Description: Market-moving news and views 24-hours a day.

Tweets: 66,321  Following: 92  Followers: 43,611  Tweeting Since: 11/3/2012  Twitter Verified


Alert: HALISTER1
Source: TWT (Twitter)

Tickers
HSBA LN (HSBC Holdings PLC)

Topics
Major Media Tweets
Twitter Verified Handles

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UUID: 7947283

HALISTER1: UST 20Y Reintroduction Could Resemble 2005-2006 30Y Plan: JPM

UST 20Y Reintroduction Could Resemble 2005-2006 30Y Plan: JPM

(Bloomberg) -- If Treasury intends to reintroduce a 20Y bond, the closest comparison may be 2005-2006, when it revived the 30Y security, JPMorgan strategists led by Jay Barry said in May 3 note.
  • Treasury discussed the 30Y reintroduction at May 2005 refunding, then auctioned the security in February 2006
  • If Treasury decides to move forward with a 20Y, it may not occur before February or May 2018
  • TBAC’s recommendation for a 20Y “makes intuitive sense and is easier to implement,” as Treasury has auctioned 20Y securities in the past, before discontinuing the product in 1986
  • There’s already “robust hedging alternatives” for primary dealers and end users currently exist in the sector
    • CTD bond for US futures is 5% May-2037s, an original- issue 30-year with 20yrs to maturity; also, 20Y swaps are liquid
  • Discussions around ultra-long Treasury securities will continue, may see further analysis at August refunding, though the probability of an “ultimate introduction is low”

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jay Barry (JPMorgan Chase & Co)

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UUID: 7947283

HALISTER1: Ruble, Rand Lead EMEA Drop as Fed Stays on Course: Inside EM

Ruble, Rand Lead EMEA Drop as Fed Stays on Course: Inside EM

(Bloomberg) -- Currencies of Russia and South Africa weaken with local bonds after the Federal Reserve affirmed its plan to raise borrowing costs twice more this year.
  • MSCI’s EM indexes of stocks and currencies retreat 0.3% each
  • Yield premium on developing sovereign bonds over U.S. Treasuries decreases 2bps to 295, lowest on closing basis since 2014: JPMorgan Chase indexes
EASTERN EUROPE:
  • RUB declines 0.7% to 57.7650/USD, lowest level in 6 weeks; local bonds due in 2027 fall for 2nd day, yield adds 2bp to 7.62%
    • Finance Ministry to reduce FX purchases starting next week
    • Citi recommends lower-rated Russian corporate bonds for carry
  • Turkey’s lira retreats 0.4%; yield on local bonds due in 2026 climb 7bps to 10.23%; Borsa Istanbul 100 Index falls 0.2%
    • Turkcell heads for biggest drop in 2 years after Telia sold a 7% stake in the company at a discount to market price
    • SocGen recommends Turkey Steepener
ASIA:
  • S. Korean won weakens 0.2%; Kospi Index climbs 1% to record
    • Current account surplus shrank in March
    • NOTE: Country gears up for presidential election May 9
  • Filipino peso advances 0.2%; Philippine Stock Exchange PSEi Index gains 1% to close at highest level in more than 7 months
    • President Rodrigo Duterte’s plan to raise taxes to fund infrastructure projects passed by parliamentary committee, Inquirer reports, but may face delays
AFRICA:
  • ZAR declines 0.7% to lowest level in 3 weeks; local bonds due in 2026 set to end 3-day winning streak, yield rises 6bps to 8.72%
    • Government minister seeks land seizure without payment
    • Central Bank Governor Lesetja Kganyago says ending rate hikes doesn’t mean start of cuts
    • Morgan Stanley recommends selling rand
    • READ: Standard Chartered Sees Year of Recovery for African Economy
MIDDLE EAST:
  • Main stock index in Abu Dhabi advances 0.8%, bucking declines across rest of Gulf markets
    • Arabtec gains 1.6%, rebounding from 4-day slump of 9.2% after posting 1st quarterly profit since 2014
    • Oil, region’s biggest export, declines 0.6% to near 5- month low
ANALYSIS:
  • Russia Takes After Fed as Monetary Policy Veers Off-Script Again
  • Cheapest Asian Stocks on Historical Basis Are in Korea: Chart

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
TCELL TI (Turkcell Iletisim Hizmetleri AS)

Topics
Emerging Mkts News, Analysis

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UUID: 7947283

HALISTER1: Spain Judge Names HSBC Executives as Suspects in Falciani Probe

Spain Judge Names HSBC Executives as Suspects in Falciani Probe

(Bloomberg) -- Spanish judge names 7 HSBC executives that worked at the bank in 2006-2007 as official suspects in probe linked to Falciani case, according to emailed statement.
  • Managers under investigation over allegations of money laundering, criminal organization
  • Judge names Peter Widmer, Christopher Meares, Clive Bannister, Beatriz Sanchez, Pierre-Alain Sigg, Maria Sanchez, Didier Peclard as being under investigation
  • A spokeswoman for HSBC in Madrid didn’t have any immediate comment on the judge’s decision
  • EARLIER: Santander, BNP Managers Named as Suspects in Falciani Probe Link

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
HSBA LN (HSBC Holdings PLC)

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UUID: 7947283