Halister News

(Bloomberg) -- Malaysia’s ringgit and South Korea’s won lead Asian currencies lower; sovereign bonds rise in New Zealand while interest rate swaps rise in Thailand.

• Singapore’s sovereign bonds fall; 4Q GDP grew annualized 6.2% from previous quarter, most in a year; median forecast was 4.5% gain and the January estimate was a 5.7% increase
  • Deputy Managing Director Loh says MAS policy stance appropriate and unchanged, with the island’s banks resilient with ample liquidity
• Yen gains for second day against dollar; BOJ Governor Kuroda defends negative rates, says there’s room for pursuing further easing to expand negative margins, Asahi reports
• Kuroda says separately BOJ won’t target FX rates or stocks; adds that other major currencies are rising against the dollar, not only the yen
• U.S. Treasuries little changed, with yield on 10-year bonds at 1.731% in Asian trading
  • U.S. new home sales likely slowed to 520,000 annualized pace in January from 544,000 in December, according to median estimate of economists in Bloomberg survey
• China lowers yuan reference rate for a second day; IMF’s Lagarde says China isn’t going to have hard landing
• Won falls; South Korea’s economy needs reforms, and decline in productivity is biggest reason for falling potential growth rate: BOK
  • North Korea warns of preemptive strike against the South, U.S.: KCNA
  • U.S. Sec. of State Kerry says there’s no need for missile system if North Korea is denuclearized
• Aussie falls for second day against dollar; Australia’s 4Q wage price index rose 0.5% from previous quarter after 0.6% increase in 3Q; median estimate was for 0.6% gain
• Ringgit declines; data today may show Malaysia’s CPI increased 3.7% from year earlier in January, highest since February 2009, according to a Bloomberg survey
  • Najib to testify against PAS newspaper on 1MDB report: Insider; Fitch affirms Malaysia at ‘A-’; says outlook stable
• Rupiah snaps four-day gain; Indonesia to limit deposit rates for funds owned by state-owned cos. and state agencies at 1% above inflation while maintaining inflation rate at 4%, Bisnis Indonesia reports
• Peso drops for second day against dollar; Philippines’ imports fell 25.8% from year earlier in December, biggest decline since 2009; median estimate was for 10.7% gain
  • Trade balance swings to surplus of $603m in Decemember from deficit of $977m in November
• Taiwan’s dollar rises for second day; data today will show island’s export orders dropped 10.5% from year earlier in January after 12.3% decline in December: Bloomberg survey

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