Natixis - Can central banks decide to not react if inflation returns?: Normally, if inflation returns, central banks must increase nominal interest rates sharply since real interest rates must rise in order to curb the inflation. Given the high debt…

Natixis - Euro zone: The objective of monetary union is microeconomic: Too much attention is devoted to the supposed macroeconomic benefits of the euro (central bank credibility and absence of inflation, absence of currency wars, fiscal discipline).…

$PII #Polaris PII Model upload: | #equity #stocks

$532454 #Bharti Airtel ... New Street Indian Telcos: Bankruptcy rules make VIL liquidation most likely outcome: With the bankruptcy of Vodafone IDEA now looking likely we explain why India’s bankruptcy process in our view makes it… #equity #stocks

$AUR #Central Asia Gold AB Auriant Mining - Tardan CIL de-risks Kara-Beldyr: After a few months of delays, Auriant Mining’s Tardan CIL project has now been operating since mid-November. Production guidance for FY19 is 550kg from the… #equity #stocks

Vetiva Capital Management - December 2019 Inflation Review - December inflation reaches a 20-month high, at 11.98% y/y: December 2019 InflationDecember inflation reaches a 20-month high, at 11.98% y/yNigeria’s headline inflation increased to 11.98% y/y…

ARM Securities Limited - NSR H1 2020 Excerpts - GDP - Economic growth should remain anemic, flatlined at 2.2%: The growth momentum remained positive over 2019, with Q3 19 GDP growth of 2.28% augmenting the trend over the first half of the year. Ergo, the…

ARM Securities Limited - NSR H1 2020 Excerpts - Inflation set for a double whammy in 2020!: In this morning’s cut-out of our core strategy document – The Nigeria Strategy Report, we focus on the major themes that steered consumer prices over H2 19 and…

$MIL #Bank Millennium S.A. ... DM BOŚ: Daily research report – date 17.01.2020: Large-cap companies news CD Projekt: Cyberpunk 2077 delayed - ST market-relative bias down to Neutral KGHM: 2020 budget assumptions revealed Lotos: 2 new… #equity #stocks

$ABE #AB SA ... DM BOŚ: Daily research report – date 16.01.2020: Headlines Large-cap companies news Santander BP: Provisions to weight on results KGHM: Impairment of asset reversals possible CD Projekt: Final Fantasy 7 (remake) delayed to… #equity #stocks

ING - Daily FX Strategy/Interlude between two busy weeks: A round of cheerful Chinese data overnight dispelled fears of an imminent slowdown in the world's second economy. GDP held at 6% in 4Q while industrial production and retail sales beat consensus.…

ING - Rates Strategy Spark/Nomentum: Overnight: China Q4 GDP stabilised with overall more upbeat December data. 2019 GDP expanded 6.1%. The US Treasury will sell 20Y bonds in 1H. Italy's constitutional court rejected the League's request for an…

Natixis - Two possibilities for long-term interest rates to rise again: Return of inflation, but also a “strike” by lenders: Long-term interest rates are very low in all OECD countries, which , in particular, has the effect of maintaining strong solvency…

AKD Securities Limited - Pakistan Economy: Inflation could move easing goal post! (AKD Daily, Jan 17, 2020): APL to post an EPS of PkR23.5 for 1HFY20: Attock Petroleum Ltd. (APL) is expected is announce results on 21st Jan'20 for 1HFY20… #equity #stocks

Motilal Oswal - MOSL: Morning India (17/January/20): 1. Telecom - Court verdict (SC dismisses AGR liability review petition); 2. Cyient (Downgrade to Neutral); 3. Power Coal monthly: Morning India (17/January/20): Today’s top research… #equity #stocks

ING - China New Year GDP Cheer: With just a little over a week to go until Chinese New Year, 4Q19 GDP gave no reason for concern, coming in at 6.0% in line with the consensus view

$INFOTECENT #Cyient MOSL: CYIENT (Downgrade to Neutral)-Foresee risks due to softer aspects: (CYL IN, Mkt Cap USD0.7b, CMP INR452, TP INR470, 4% Upside, Downgrade to Neutral) Subdued growth and margin outlook; Downgrading to Neutral**… #equity #stocks

$IVL #Indorama Ventures PCL Indorama Ventures (IVL TB) - Weak Earnings In 4Q19, Cut Target Price: Indorama Ventures (IVL TB/BUY/Bt31.25/Target: Bt36.00) 4Q19 results preview: Weak earnings in 4Q19, cut target price. #equity #stocks

$SMO #Sonoro Metals Sonoro Metals Corp. (TSXV: SMO / OTCQB: SMOFF | FRA: 23SP) – Initiating Coverage: Gold Junior with Near-Term Production Potential: Fundamental Research Corp has issued a report entitled “Sonoro Metals Corp. (TSXV: SMO… #equity #stocks

$MCL #Morses Club Morses Club (MCL): Value-added, customer-driven expansion from core: MCL’s recent results (see our 21 October note, Interim FY’20 results: steady core, deal upside) highlighted the strength of Home Collect (HCC). The… #equity #stocks