HALISTER1: Fannie May - Connecticut Avenue Securities, Series 2017-C03 - DBRS Presale Report

Fannie May - Connecticut Avenue Securities, Series 2017-C03 - DBRS Presale Report

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

People
Quincy Tang (Dbrs Inc)
Sagar Kongettira (DBRS Inc)
Yuan Li (DBRS Inc)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Investment Research
Reports

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UUID: 7947283

HALISTER: Wells Fargo CEO Says Board Will Make More Changes to Membership

Wells Fargo CEO Says Board Will Make More Changes to Membership

(Bloomberg) -- Wells Fargo’s Tim Sloan tells Bloomberg TV bank’s board will continue to change as board members retire.
  • “We have two directors who are retiring in a year. We’re going to be bringing on new board members to replace them,” Sloan said on sidelines of Milken Institute conference
  • Sloan said firm “heard shareholders say they were dissatisifed” with board’s actions
  • Note, April 25: Wells Fargo Board Scrapes Through Election at Tough Meeting
  • Note, April 25: Inside Wells Fargo’s Raucous Annual Meeting (Video)

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
WFC US (Wells Fargo & Co)

People
Timothy Sloan (Wells Fargo & Co)

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UUID: 7947283

HALISTER: UBS, BNP, RBS Said to Get Subpoenas in U.S. Treasuries Probe

UBS, BNP, RBS Said to Get Subpoenas in U.S. Treasuries Probe

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
RBS LN (Royal Bank of Scotland Group PLC)
UBSG VX (UBS Group AG)
BNP FP (BNP Paribas SA)
GS US (Goldman Sachs Group Inc/The)

People
Peter Carr (United States Department of Justice)

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UUID: 7947283

HALISTER1: FREMF 2017-K64 Mortgage Trust, Freddie Mac Structured Pass-Through Certificates, Series K-064 - DBRS Presale Report

FREMF 2017-K64 Mortgage Trust, Freddie Mac Structured Pass-Through Certificates, Series K-064 - DBRS Presale Report

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

People
Erin Stafford (Dbrs, Inc.)
Gwen Roush (Dbrs, Inc.)
Kevin Mammoser (DBRS Inc)
Richard Carlson (Dbrs, Inc.)
Stephen Koehler (Dbrs, Inc.)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Investment Research
Reports

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UUID: 7947283

HALISTER1: Treasury May Increase 10Y, 30Y Auction Sizes, Wrightson Says

Treasury May Increase 10Y, 30Y Auction Sizes, Wrightson Says

(Bloomberg) -- While it’s “too early to expect any concrete news” on ultra-long UST issuance in this week’s quarterly refunding announcement, Treasury might raise the size of all 10Y and 30Y auctions this qtr by $2b each “to lay the groundwork,” Wrightson ICAP chief economist Lou Crandall says in May 1 Money Market Observer.
  • Treasury has been selling $23b 10Y followed by two $20b reopenings, and $15b 30Y followed by two $12b reopenings every quarter since February 2016
  • Increases “would be advisable even if the Treasury had no plans to introduce a new ultra-long bond,” because of “the administration’s aggressive fiscal policy goals”
  • Also, larger auction sizes would allow Treasury “to scale those offerings back when the new bond is launched,” blunting the market impact of the new offering
  • At that point, Treasury could eliminate the second 30Y reopening each quarter and use the opening for an $10b-$12b ultra-long
  • “Gross long-term issuance would actually fall slightly on a quarter-to-quarter basis when the new schedule took effect, but would remain above current levels”

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Louis Crandall (Wrightson ICAP LLC)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: ISM Mfg, Constr. Spending Due in 5 Minutes

U.S. ECO PREVIEW: ISM Mfg, Constr. Spending Due in 5 Minutes

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News:
  • ISM Manu 56.5; range 55 to 58 (70 estimates)
    • Consensus projects a slight cooling in the headline ISM Index in April, to 56.5 from 57.2 in the previous month, which is consistent with recent trends in the regional Fed measures, where all five of the headline indexes posted declines. -- Bloomberg Intelligence
  • ISM Prices 67.5; range 66 to 69.5 (7 estimates)
    • March prices-paid index was the highest since May 2011
  • Const. Spend 0.4% m/m; range -0.8% to 0.9% (45 estimates)
    • Spending surged in Feb. after two consecutive monthly declines
    • Solid housing demand amid low mortgage rates boosted new construction, especially as warmer-than-usual weather allowed for an earlier start of the spring building season. -- Bloomberg Intelligence

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283