Asian equity markets are modestly higher as investors continue to digest late-Friday comments from Fed Chair Yellen. She noted factors that pushed inflation lower seem to be stabilizing, echoing comments from some of the other Fed officials to state that a tightening would be appropriate in the next few months. Fed funds futures contract has pushed up toward 30% probability of a 25bp hike in June and a near 50% chance of a hike in either June or July. Weekend comments from Fed's Bullard brushed along the same lines, adding he believes global markets are prepared for a move as GDP rebound in Q2 appears to be materializing. Japan PM Abe is now rumored to postpone sales tax hike by 2.5years to Oct 2019, leaving the decision to his successor since his term ends in 2018. Notable press reports out of China saw some speculation that May new Yuan loans could top CNY800B - well above the 6-month low level of CNY556B in Apr. PBoC Dep Gov Chen was also quoted with a warning about the inherent risks of new business models in China's multi-layered financial system as private lending and internet finance have become more intertwined. Tracking firmer USD, PBoC also cut its Yuan fix to its lowest level since early 2011.
In Asutralia Galaxy Ressources to merge with GEneral Mining GXY+13.9%
Noble Group -1.6% on CEO Departure
Nikkei +1.12% Hang Seng +0.34% CSI +0.02% Shanghai +0.03%
Eur$ 1.1105 CNH 6.5883 CNY 6.5820 JPY 111.27 GBP 1.4618 CHF 0.9953 RUB 66.2575 WTI 49.14 (-0.39%)
S&P +0.23% EuroStoxx +0.26% Dax +0.37% SMI +0.18%
Macro :
- Bond Traders Say Don’t Count Out June Hike After Yellen Remarks
- Japan PM Abe planning to propose a ¥5-10T stimulus package during a special legislative session after the upper House elections in July - Nikkei - just two months into FY16, Abe will propose a supplementary budget of ¥5-10T
- Japan PM Abe said to delay the planned sales tax increase by 2.5 years to Oct 2019 - Nikkei citing govt official - Abe said to have expressed his intentions to senior LDP party officials on Saturday night.
- France Budget Ministry Holds Back EU470M for Defense: Tribune
- Fed’s Bullard Says One-Time Prices Jolt Best at Zero Lower Bound
- Ladbrokes Says Brexit Odds 5-4 on U.K. Staying, Turnout >65%
Keep an eye on :
- AC FP : Considering sale of $1.1B European hotel portfolio, looking to sell hotel properties in London, Dublin, and Amsterdam that operate under Hilton's DoubleTree brand
- AIR FP : U.K. Poised to Pick Boeing for New Apache Helicopters: Telegraph
- AIR FP : Airbus’s Enders: A400M Undercarriage Issue ’Major Mistake’: Bild
- AA US : Alcoa Says Venture Partner Seeking to Block Business Split
- AAPL US : Apple Mulls Adding Facial-Recognition Technology in Device: CNET
- ASRO NA : ASR to Sell Shares at EU18-EU22 Apiece in Amsterdam IPO
- BASIC FIT IPO (NA) : Basic-Fit to Sell Shares Between EU15-EU20 Apiece in IPO
- BAYN GY : Bayer May Table Improved Monsanto Bid This Week: Sunday Times
- BP/ LN : BP Mulling Offer for Woolworths Ltd Petrol Stations, AFR Says
- CRG IM : Carige Considers EU300m-to-EU400m Capital Increase: Repubblica
- CRG IM : Carige Says Report on Possible Capital Increase Is Groundless
- DAI GY : Truckmakers Face Record EU Cartel Fine This Year: FT
- EDF FP : Hinkley Point C’s future threatened by continued union opposition - Guardian
- EDF FP : EDF Has Clauses Limiting Costs of Hinkley Point Delay: L’Opinion
- ENI IM : Eni says militants attacked the Agip trunk pipeline in the Niger Delta - however, it was not the Bonny Light Nembe 1,2 and 3 pipelines that the militants claimed they had attacked.
- FCA IM : Truckmakers Face Record EU Cartel Fine This Year: FT
- FUM1V FH : Fortum to continue looking for targets after Ekokem deal
- GLEN LN : Glencore, Apollo Team Up for Anglo American Mines: Australian
- GLEN LN : Noble Group Says CEO Resigns; Co. to Sell U.S. Energy Unit (Noble -1.64% in Singapore)
- GOOGL US : France’s Sapin Rules Out Google Tax Deal, Reuters Says
- SKB GY : Koenig & Bauer May Raise Capital for More Deals: Euro am Sonntag
- KNEBV FH : Kone Wins Order for 87 Elevators in China
- LIGHT NA : Philips Lighting's balance sheet allows for potential takeovers - Het Financieele Dagblad
- MAN GY : Truckmakers Face Record EU Cartel Fine This Year: FT
- MAN GY : MAN Sees Mid-Term Op Profit Margin 5-6% by 2017: Handelsblatt
- MKTO US : Microsoft Said Prepared to Bid for Marketo: StreetInsider
- OMV AV : OMV to Invest $45m in Pakistan This Year: Express Tribune Link
- PNL NA : BPost working on PostNL acquisition
- PNL NA : Bpost / PostNL: an expected announcement Monday - echo.be - http://bit.ly/1XGHkn7 (yesterday)
- PNL NA : Postnl, BPost Talks End Without Agreement on Acquisition Terms
- PST IM : Poste Italiane mulls bid for Sia; may sell Banca del Mezzogiorno - Il Sole 24 Ore
- PUMA Energy : IPO : Trafigura’s Puma Energy Said to List GBP4b IPO, Sky Says
- RBS LN : RBS to Cut 450 Services Positions Across U.K., FT Reports
- RCS IM : Bonomi’s RCS Offer Deadline Suspended by Italian Regulator
- SCMN VX : Swisscom Chair Says State Co. Vote May ‘Poison’ Market Cap: T-A
- TDG US : TDG: To enter S&P 500 index, replacing BXLT, effective after close on June 2nd
- TEL2 SS : VimpelCom, Tele2 Consider Sharing Networks, Vedomosti Reports
- TSCO LN : Philip Day Makes Bid for Tesco’s Dobbies Unit: Sunday Times
- TWTR US : Alphabet Acquisition of Twitter ’Makes Sense’, Says Axiom
- UCG IM : UniCredit Outgoing CEO Rules Out Becoming Bank’s Chairman
- VIE FP : Veolia Seeks EU500m Sales Increase in China End 2018: Echos
- VIV FP : Subsidiary Universal Music Group acquires digital agency Fame House; no terms disclosed Acquired Fame House, an award-winning, innovative digital marketing agency whose clients include artists, brands and festivals including Eminem, Pearl Jam, Mitchell & Ness and Electric Zoo.
- VIV FP : Vivendi offer for Gameloft successful
- VOD LN : Vodafone Introducing Newly Designed Mini Mobile Mast: FT
- VOLVB SS : Truckmakers Face Record EU Cartel Fine This Year: FT
- VOW3 GY : VW Seeks 50% Electric-Car Market Share by 2030: Automobilwoche
- VOw3 GY : VW Paid Pischetsrieder EU50m for Post-CEO Work: Bild am Sonntag