Halister News

(Bloomberg) -- (Corrects to show Abe was referring to gambling addiction.)

• Japanese Prime Minister Shinzo Abe responds to questions in parliament
• Abe: Will try to dispel concerns about casinos by adopting policies to combat gambling addiction and money laundering
• Will keep international standards in mind while considering money-laundering policies
• NOTE: Japan legalized casinos last year and is aiming to pass a second bill setting out implementation policies this year

(Bloomberg) -- Japanese Prime Minister Shinzo Abe responds to questions in parliament.

• Abe: Will try to dispel concerns about casinos by adopting policies to combat gambling and money laundering
• Will keep international standards in mind while considering money-laundering policies
• NOTE: Japan legalized casinos last year and is aiming to pass a second bill setting out implementation policies this year

(Bloomberg) -- OATs are set to outperform bunds, particularly in 30y, as Le Pen has failed to gain momentum and polls are not close enough to believe Le Pen has a significant chance of victory, write NatWest Markets strategists including Giles Gale in a client note.

• Macron’s position looks increasingly solid, with polls showing greater voter comfort, and with a competent display in this week’s televised debate consolidating him as front- runner
• Italian bonds have been trading at a higher beta than France. With no timeline on elections, recent gains from euro-skeptic parties will escape the market focus
  • Banking sector risks are under control, while downsizing of QE buying is still distant enough; recommend extending from long 4y BTP to 7y, and buying 7y BTPei
• Yesterday’s LTRO-II take-up was larger than consensus, but the upside surprise is not sufficient for significant follow through receiving or buying in the 4-5y area; 4s7s peripheral flatteners look a lot more attractive