HALISTER1: Chongqing Rural Bank 2016 Basic EPS 85 Yuan Cents

Chongqing Rural Bank 2016 Basic EPS 85 Yuan Cents

(Bloomberg) -- Chongqing Rural Commercial Bank Co. reported fy net interest income 19.4b yuan.
  • Co. fy net fee, commission income 2.12 b yuan
  • Co. fy net interest margin 2.74%
  • NOTE: Chongqing Rural Commercial Bank’s 3Q Net Income 2.08b Yuan Link

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
3618 HK (Chongqing Rural Commercial Bank Co Ltd)

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UUID: 7947283

HALISTER1: *CORRECT: CQRC BANK 2016 BASIC EPS 85 YUAN CENTS

*CORRECT: CQRC BANK 2016 BASIC EPS 85 YUAN CENTS

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
3618 HK (Chongqing Rural Commercial Bank Co Ltd)

People
Liu Jianzhong (Chongqing Rural Commercial Bank Co Ltd)
Xie Wenhui (Chongqing Rural Commercial Bank Co Ltd)
Yung Mei Yee (DTXS Silk Road Investment Holdings Co Ltd)

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UUID: 7947283

HALISTER1: Argentina Carry Trade Preferred Through 1H17: Morgan Stanley

Argentina Carry Trade Preferred Through 1H17: Morgan Stanley

(Bloomberg) -- Top pick for carry is Bote 2018, seen less vulnerable to risk-off shocks because it’s owned by more locals, Morgan Stanley analysts Aaron Gifford, Dara Blume, Simon Waever and Fernando Sedano write in note.
  • Recent rally’s size and speed a headwind for local rates, likely to limit near-term gains
    • 10y local yields forecast to reach 12.75% by 4Q
  • Recommends selling USD/ARS 3m NDFs, sees ARS at 17.1/USD end of 2017
  • EM-dedicated funds estimated to have purchased $600m of govts Jan. issuance
  • Recommends Euro discount bonds, selling Argentina 5y CDS vs Peru 5y CDS; Bonars not attractive
  • Investors face increase in political noise ahead of upcoming mid-term elections
  • Base case is for a positive result for President Macri, but public sentiment likely to remain subdued until growth recovers, inflation retreats
  • Argentina central bank expected to continue to hold rates in coming weeks, most of the easing expected in 2H17
  • “The problem with gradualism is that even when things start heading in the right direction, another round of bad news appears, leading consumers and direct investors to remain hesitant for longer”

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Aaron Gifford (Morgan Stanley)
Dara Blume (Morgan Stanley)
Simon Waever (Morgan Stanley)
Fernando Sedano (Morgan Stanley)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: U Mich Sentiment, LEI Due in 5 Minutes

U.S. ECO PREVIEW: U Mich Sentiment, LEI Due in 5 Minutes

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News:
  • LEI 0.5% m/m; range 0.2% to 0.8% (36 estimates)
    • "1Q GDP has been plagued by recurring weakness in recent years, so analysts may be inclined to dismiss a weak start to the year if the prevailing evidence points to an underlying trend improvement": Bloomberg Intelligence
    • LEI has been on the rise since September
  • U. Mich Conf 97; range 95 to 100 (59 estimates)
  • U. Mich Curr 111; range 110.5 to 111.5 (3 estimates)
  • U. Mich Exp 87.1; range 85.5 to 88 (3 estimates)
    • "Consumer sentiment appears to have begun to plateau following a sharp increase in the aftermath of the election": Bloomberg Intelligence
    • In February, the index retreated from January’s 13-year high
First Word newswire: NH BFW

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Nordea, Handelsbanken Avoid Further Fine in Panama Case: DI

Nordea, Handelsbanken Avoid Further Fine in Panama Case: DI

(Bloomberg) -- Sweden’s Financial Supervisory Authority has closed its probe into Nordea and Handelsbanken’s processes to prevent money laundering and won’t issue any sanctions or fines against companies, Dagens Industri reports, citing FSA spokeswoman Victoria Ericsson.
  • In light of the Panama investigation, FSA has concluded both banks have taken sufficient measures to correct earlier complaints against their processes to prevent money laundering
  • “Therefore, we see no reason to move forward with the investigations and have sent a final notice,” Ericsson tells DI
  • FSA’s investigation into Sweden’s other two big banks, SEB and Swedbank, continues
  • NOTE Feb. 1: Swedish FSA Says Has Informed Banks of Panama Investigation: DI
  • NOTE April 13: Nordea Money Laundering Link to Panama Leaks Probed by FSA

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SHBA SS (Svenska Handelsbanken AB)
NDA SS (Nordea Bank AB)
SWEDA SS (Swedbank AB)
SEBA SS (Skandinaviska Enskilda Banken AB)

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UUID: 7947283