|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||18.91 - 19.10|
|52 Week Range||15.98 - 22.28|
|Beta (3Y Monthly)||0.89|
|PE Ratio (TTM)||12.08|
|Forward Dividend & Yield||1.12 (5.90%)|
|1y Target Est||21.41|
Khoon Goh of ANZ Bank weighs in currencies, including the U.S. dollar, Chinese yuan and the euro. He says there is upside for the yuan in part because the U.S.-China trade war is "close" to being resolved.
(Bloomberg) -- Markets may breathe a sigh of relief after President Donald Trump and President Xi Jinping decided to resume trade negotiations after a six-week stalemate, with the U.S. agreeing to a temporary freeze on further tariffs on Chinese goods.Trump told reporters he wouldn’t put new duties on China for the “time being” after Xi’s administration agreed to buy a “tremendous” amount of agricultural products. Trump also said that he’ll allow Huawei Technologies Co. to buy some products from U.S. suppliers after the Commerce Department last month blacklisted the company for national security reasons.Read more: Trump, Xi Hit Pause on Trade War Again for Talks on Lasting DealRecent concerns about global trade have prompted investors to bet on central-bank easing and pile into haven assets. Here is how markets will likely react when they open on Monday, according to strategists and investors:Mansoor Mohi-uddin, senior macro strategist at NatWest Markets in Singapore:“Investor sentiment is set to be buoyed in the week ahead by a truce in the U.S.-China trade war.”“Financial markets are unlikely to significantly reduce their expectations for Federal Reserve rate cuts despite global trade tensions easing. Thus risk assets -- stocks, commodities and emerging markets -- are set to rally while the safe-haven dollar, yen and Swiss franc underperform.”Stephen Innes, managing partner at Vanguard Markets in Bangkok:The “reset button” being hit on trade talks was the markets’ base-case scenario, and this is supportive for risk, but the lack of a timeline for progress may cap “bullish topside ambitions.”“With no news reading algorithms to steamroll the markets on Saturday, traders will have a 36-hour cooling off period to quantify their next move. And I would expect the markets to be very orderly on Monday open.”The extensive lists of demands from both sides may be “a bridge too far.”“Underlying sentiment remains quite bearish in terms of the medium-term outlook for a U.S.-China trade deal as well the global growth outlook.”Raymond Yeung, chief China economist at ANZ in Hong Kong:“Today’s outcome, similar to last December’s, still does not convince us that the trade tensions have been resolved. China and the US have not made any progress on key issues, namely, intellectual property rights and technology transfer.”“Trump’s softer stance seems to be driven by US corporate interests, as billion dollar contracts for US farmers and Huawei suppliers are involved.”“Today’s outcome suggests that future negotiations could be characterised by US stepping back in exchange for China’s purchases. But as China has said it is prepared for a ‘Long March’, the U.S. needs to compromise further to reach a real deal before the next presidential election.”Chris Weston, head of research at Pepperstone Financial in Melbourne:“I can’t see this meeting doing risk assets any harm, but there is still a lot of work to do to convince central banks they don’t need to act to keep the economic expansion in check.”“A few weak shorts may look to close out on Monday” given the tariff reprieve, prospects for negotiations to restart and that both sides “actually appear more united than expected.”Watch Sunday’s China PMI data.Alfonso Esparza, senior market analyst at Oanda in Toronto:“Everybody played their part without any additional drama and until more details emerge we are back at square one.”“Gold will be pressured as trade optimism reduces the appeal of the yellow metal as a safe haven.”Jean-Charles Sambor, deputy of head of emerging-market fixed income at BNP Paribas Asset Management in London:“This is of course good. Investors have been generally negative on both the probability of a meeting and the probability of a positive outcome following this meeting.”“High-yield spreads should do well. China high yield remains very cheap especially, and emerging-market currencies should continue to rally on the news.”Valentin Marinov, head of G-10 currency research at Credit Agricole:The outcome was “largely as expected," but there’s now a chance for a rebound in carry-trade optimism, with long dollar vs EUR and CHF the best picksOutcome may also be seen as positive for G-10 currencies with China exposure, such as AUD, NZD, JPY, and EURThe implication is that further easing of U.S. conditions stemming from stock-market optimism following the G-20 summit "should reduce the need for imminent Fed rate cut in July." This makes the upcoming U.S. payrolls and ISM data “very important" to the near-term rates outlook.David Page, senior economist at AXA Investment Managers:The lack of detail elevates uncertainty "as markets reflect on the similarity to last November’s situation"No escalation in the trade war "reduces the likelihood of a sharp Fed cutting cycle." Page maintains his view of two cuts in 2019, starting in September.(Adds comment from Credit Agricole and Axa.)\--With assistance from Moxy Ying.To contact the reporters on this story: Lilian Karunungan in Singapore at firstname.lastname@example.org;Abhishek Vishnoi in Singapore at email@example.comTo contact the editors responsible for this story: Shamim Adam at firstname.lastname@example.org, Kurt Schussler, Stanley JamesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Oil prices fell on Friday but posted their second straight week of gains ahead of trade talks between the U.S. and Chinese presidents this weekend, and on widely expected production cuts from OPEC on Monday. The most active September Brent crude futures fell 93 cents to settle at $64.74 a barrel. Brent August crude futures settled unchanged at $66.55 a barrel.
(Bloomberg) -- New Zealand plans to introduce a bank deposit protection regime to bring it into line with other developed nations and increase public confidence in its lenders.“New Zealand has been an outlier for many years in that we don’t have a formal deposit protection regime to support Kiwis if a bank were to fall over,” Finance Minister Grant Robertson said in a statement Monday in Wellington. While no decisions had been taken yet on how the system would be funded, deposit protection regimes elsewhere were often based on a bank levy, he later told a news conference.New Zealand’s banking system is dominated by four big Australian lenders -- Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd., Westpac Banking Corp. and Commonwealth Bank of Australia -- which together hold around 90% of deposits. Separately, the RBNZ has told the banks it wants them hold more capital to make them more resilient.Adopting deposit protection is part of a review of the central bank’s underlying legislation and follows reports from the OECD and IMF that said New Zealand’s banking system might be more vulnerable in a crisis without one. The government will also give the RBNZ more tools to bolster prudential supervision as part of the review.Limited ProtectionNew Zealand is proposing deposit protection of up to NZ$50,000 ($33,000), which would cover 90% of individual bank deposits, but only about 40% of the total value, Robertson said. Final decisions and details will be announced in early 2020.The proposed regime would put the nation toward the lower end of protection when compared to similar economies, Robertson said. Australia introduced a guarantee on deposits of up to A$250,000 ($174,000) in 2008 at the height of the global financial crisis, while the U.S. guarantees deposits of up to $250,000 and the U.K. guarantees up to 85,000 pounds ($108,000).Robertson said the next phase of the review of the RBNZ will include looking at the bank’s supervision and enforcement powers, and whether penalties are tough enough to discourage certain behaviors.The government is considering adopting elements of overseas frameworks, which would increase the responsibilities and accountabilities of senior executives for the actions of New Zealand’s banks and licensed deposit-takers, he said.‘Stricter Regime’Models in Australia and the U.K. go a step further than New Zealand’s current director-attestation regime for banks by also holding senior managers to account for the prudent management of their bank within their area of responsibility, he said.“We want to look at the balance between the more light-handed regulatory model that the Reserve Bank has traditionally had, versus what we’ve been advised by the IMF and others over the years should be a stricter regime,” Robertson said.The announcement comes after the RBNZ last month censured ANZ Bank New Zealand Ltd. over persistent failure to comply with rules around modeling risk capital requirements.Earlier Monday, the RBNZ requested that ANZ New Zealand provide two independent reports to assure the central bank it is operating in a prudent manner. Last week, ANZ New Zealand Chief Executive Office David Hisco quit after a review revealed mis-characterization of personal expenses.New Zealand Prime Minister Jacinda Ardern said Monday there was no need for New Zealand to follow Australia and hold a Royal Commission into banking.The government has also taken a number of in-principle decisions to guide the review of the RBNZ Act:The RBNZ will retain a prudential supervisory role, rather than separating it into a new agencyA new governance board will be established that will be given statutory authority over all RBNZ decisions apart from monetary policy The Treasury Department will be the RBNZ’s monitoring agent The separate regulatory regimes for banks and non-bank deposit takers will be merged into one To contact the reporter on this story: Tracy Withers in Wellington at email@example.comTo contact the editors responsible for this story: Matthew Brockett at firstname.lastname@example.org, Peter VercoeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service has assigned the following definitive long-term ratings to the notes issued by Perpetual Corporate Trust Limited as trustee of Kingfisher Trust 2019-1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Investing.com - Asian markets were mixed in morning trade on Monday as Hong Kong stocks traded in the green after another mass protest over the weekend that forced an apology from the city’s chief executive.
Today we'll take a closer look at Australia and New Zealand Banking Group Limited (ASX:ANZ) from a dividend investor's...
Moody's Investors Service has assigned the following definitive rating to the bonds issued by Perpetual Limited (the Trustee) in its capacity as trustee of the SMHL Series Securitisation Fund 2019-1 (the Trust). "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. The transaction is a securitisation of first-ranking mortgage loans secured over residential properties located in Australia.
Australia's central bank cut rates to a record low on Tuesday and signalled willingness to go further as a worsening Sino-U.S. trade war raises recession risks for the world economy, pushing policymakers into what could be a global monetary easing cycle. RBA Governor Philip Lowe said the rate cut was designed to support employment growth and lift inflation, which has consistently undershot its 2%-to-3% medium-term target. "It is possible that the current policy settings will be enough – that we just need to be patient.
Investors have been keeping a close watch on the Chinese yuan, seen as a key indicator amid the intensifying U.S.-China trade war — and much concern has been centered on whether it will breach the 7 yuan per dollar key level. The currency slide would hurt Chinese firms, as well as Beijing's push for greater use of the yuan internationally, according to Khoon Goh, head of Asia research at ANZ Bank. A weakened yuan could hit regional currencies and lead to higher costs for those who hold dollar-denominated bonds, said Arthur Lau, co-head of emerging markets fixed income at PineBridge Investments.
Moody's Investors Service has assigned the following provisional long-term ratings to the notes to be issued by Perpetual Corporate Trust Limited as trustee of Kingfisher Trust 2019-1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift...
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! If you want to know who really controls Australia and New Zealand Banking Group Limited (ASX:ANZ), then you'll have to look a...
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
At this time the renewal, in and of itself, will not result in any change to the credit quality of the program's notes. COFCO Capital Corporation (Issuer) has been renewed for another year. The Issuer is a $200 million US commercial paper program supported by a letter of credit (LOC) provided by Prime-1(cr) Australia and New Zealand Banking Group Limited, acting through its New York Branch (ANZ).
Australia & New Zealand Banking (ANZBY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).