Top Warrants & Stopped Out Warrants
4 1 Please click on the following links to view our Current Issuance CitiFirst MINIs and GSL MINIs (PDF) CitiFirst MINIs and GSL MINIs (excel) CitiFirst Instalment MINIs (PDF) and visit our new website au.citifirst.com to view all other CitiFirst Warrants Remember: All CitiFirst Warrants have 'O' as the fifth letter. All MINIs have 'K', 'M' or 'Q' as the fourth letter. GSL MINIs have 'L' and Instalment MINIs have 'J'. The Overview 31 March 2015 U.S. Economic Views – Autopsy and Prognosis of the US Economic Expansion: FromCrisis to Stability Warts, Risks, and the Fed's Response (Dana M Peterson 27 March 2015) The journey from the Great Financial Crisis back to stability continues to be a long and winding road for the United States economy, replete with shocks, switchbacks, and episodes of explosive growth and retracement. In our recently published update to the US outlook in the March 25 Global Economic Outlook and Strategy, we slightly lowered our forecasts for growth this year. Nonetheless, we continue to expect the US expansion to persist over the medium term. We look for real GDP to expand in the 2½ to 3 percent range over the mediumterm. With solid employment and income gains continuing (following the 1.3 million gain in payrolls since November), and gasoline prices remaining low for a prolonged period (40 percent lower than last summer), we expect healthy consumption growth to resume in coming quarters. The boost from lower energy prices is likely to dissipate in 2016, but GDP should still grow at an above-potential pace. The drag induced by the strong dollar remains a notable downside risk to our outlook. Headline inflation in 2015 is likely to decline temporarily toward zero, and core inflation is projected to remain well below the Fed’s 2 percent target until 2017. While lower energy prices have dampened headline inflation, the appreciating US dollar and deflation abroad will help cap core inflation. Domestic wage pressures remain muted by substantial economic slack and firms’ reluctance to raise the pace of hiring, which has historically preceded wage hikes. The Fed has signaled clearly that monetary policy is to be determined by a judgmental feedback rule that assesses the impact of new economic data on their inflation forecast. Chair Yellen has affirmed that interest rate normalization will begin once incoming data raises the Fed's confidence in their inflation forecast showing that inflation will rise to the 2 percent target in the "medium term." We believe that the uncertainty about the outlook for inflation and GDP growth will not support such increased confidence until year end. Monetary policy normalization after lift-off is expected to be shallow and protracted. Link to full article : https://ir.citi.com/uBR2q9nVFJ9gG%2FMmFzRpAKEYgK87n41l5QPMlSD099wWYqnIVgkZyA%3D%3D Top Warrants & Stopped Out Warrants Warrant Code CTXKOC BHPLOD Previous day’s top warrants by value and volume Value Citi Warrant Code Volume $220,069 Citi Sells BHPLOD 168,448 $214,267 Citi Buys XJOWOE 165,000 Citi Citi Buys Citi Sells XJOKOH XJOQOP RHCKOE $210,455 $185,164 $158,110 Citi Sells Citi Buys Citi Sells STOKOM BHPWOH XJOKOH 123,000 108,000 80,900 Citi Buys Citi Sells Citi Sells Stopped Out Warrants Warrant Code Strike Stop Loss Remaining Value Stop Loss Date Final Listing Date QBEKOE CTXKOC NABKOG SEKKOA RIOKON MQGKOA WSAKOC BKNKOB MINKOH CTXKOE WPLKOB CBAKOD 11.5400 31.0269 36.5917 15.1402 52.1722 69.1479 3.3110 1.6060 5.9090 32.4639 31.1968 89.1232 12.63 33.99 38.34 16.59 55.90 75.92 3.63 1.85 6.78 35.58 34.24 93.40 $1.07 $2.97 $1.735 $1.48 $3.46 $6.75 $0.315 $0.225 $1.005 $2.48 $3.03 $4.26 30/03/2015 30/03/2015 30/03/2015 30/03/2015 30/03/2015 30/03/2015 30/03/2015 30/03/2015 30/03/2015 30/03/2015 30/03/2015 30/03/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 01/04/2015 Headlines & Highlights Key data: Spain CPI YoY (Mar P) (-0.7%, -0.9% exp, -1.1% prev). Italy Consumer Confidence Index (Mar) (110.9, 110.9 exp, 107.7 prev). UK Mortgage Approvals (Feb) (61.8K, 61.5K exp, 60.7K prev). Eurozone Business Climate Indicator (Mar) (0.23, 0.18 exp, 0.09 prev). Germany CPI MoM (Mar P) (0.005, 0.004 exp, 0.009 prev). US Personal Spending (Feb) (0.001, 0.002 exp, -0.002 prev). US Dallas Fed Manf. Activity (Mar) (-17.4, -8.8 exp, 11.2 prev). Canada Bloomberg Nanos Confidence (Mar 27) (55.6, 55 prev). UK Net Consumer Credit (Feb) (0.7B, 0.9B exp, 0.8B prev). US Consumer spending stalls as savings jump - Consumer spending barely rose in February as frigid temperatures kept households away from malls and automobile dealerships, adding to signs the U.S. economy slowed at the start of 2015. The 0.1% gain in purchases followed a 0.2% drop in January. The saving rate jumped in February to 5.8 percent, the highest since December 2012 and up from 4.4 percent just three months earlier, government data showed. Greek Prime Minister Alexis Tsipras sought to rally a consensus in parliament for his effort to secure bailout funds after his proposals to bolster the nation’s finances failed to satisfy his European creditors. “I want to address the political parties of the opposition: Will you back the national negotiating strategy to put an end to austerity?” Tsipras asked lawmakers in Athens. Overnight Equities | S&P 2088 (1.3%) | Stoxx600 400 (1.1%) | FTSE 6891 (0.5%) U.S stocks have advanced sharply, with the S&P 500 up +1.3% in afternoon trade. These gains were largely driven by a bout of deal activity and dovish commentary from China’s central bank. Energy stocks were the largest outperformer on the index, gaining +2.1%. A pick up in February of previously owned house purchases saw S&P 500 homebuilder stocks add +1.8%. Catamaran Corp surged +24% after UnitedHealth Group has agreed to purchase the company while Horizon Pharma rose 15% after announcing that they will acquire Hyperion Therapeutics. Also in Europe, stocks had a solid run after a round of positive economic data was released which outweighed the concerns over Greece reaching a reform agreement. The Stoxx 600 closed higher, up +1.1% as data showed that economic confidence in the Eurozone jumped to its highest level since 2011. Germany’s DAX 30 surged +1.83%, pushing the index back over the 12,000 point level. The index received a boost following the release of inflation data showing that consumer prices grew +0.3% YoY in March, up from +0.1% in February. London’s FTSE 100 index rose +0.5% as mining stocks led the gains on hopes that there will be an increase in infrastructure spending in China. Greece’s Athex Composite index traded positively despite the reform discussions in Brussels on Monday, closing up +0.53%. Foreign exchange | AUDUSD 0.7643 (-1.02%) | DXY 98.0550 (0.57%) | EURUSD 1.0813 (-0.55%) Resumed strength from the USD was the key theme overnight. The dollar rebounded following comments late Friday from Fed Chair Janet Yellen which underscored the view that the US central bank is likely to start raising rates gradually later this year. The dollar is also supported by positive pending home sales data released in the US. The Euro was weighed down by headlines claiming that Greece’s proposals to boost its finances are insufficient. The EUR remained on the back foot for most of the night, despite regional data that was close to expectation and also showed German annual CPI inflation back in positive territory. The EURUSD is currently trading at 1.0813. Sterling fell against the dollar on Monday, weighed down on the first official day of a national election campaign that looks set to give no party an outright majority. GBPUSD trades 0.42% lower, at 1.4796 this morning. The Aussie is the standout worst performer overnight. The AUD slump overnight was driven by a fall of 0.85% in iron ore prices and likely also assisted by a journalist’s report that an April RBA rate cut now looks more likely. The market now prices almost a 70% chance of an RBA cut next week. The AUDUSD now trades at 0.7643, down 1.02% overnight. The kiwi also saw a bumpy path lower overnight, trading at 0.7496 this morning with the strength in the greenback. The Russian rouble rose on Monday as global market optimism over monetary stimulus in China and the euro zone lifted risk appetite for emerging market assets and oil prices stayed steadier. South Africa’s rand extended losses against the dollar on Monday, hitting a new one-week low, as a basket of currencies suffered at the hand of a stronger greenback. Most emerging Asian currencies slid on Monday amid expectations that the US Fed will start raising interest rates later this year, even though its chief reiterated that it may not rush to tighten monetary policy. Commodities | Gold 1186 (-1.25%) | Oil (WTI) 48.55 (-0.65%) | Copper 278.25 (0.54%) Gold closed down for a second straight session, as the USD climbed and investors speculated that the Fed may start raising rates this year. Oil prices fell as Iran and six world powers negotiated a deal for Tehran’s nuclear program that could end Western sanctions, and allow the OPEC member to ship more crude into an already flooded market. Copper rebounded on speculation that economic stimulus will expand in China, following governor of the PBOC Zhou Xiaochuan’s comments that China’s economic growth rate has fallen “a bit” too much, and policy makers have room to respond. According to Bloomberg, Teck Resources Ltd. and Antofagasta Plc are exploring a merger that would create one of the world’s largest copper producers. Trading Calendar ECONOMICS - Aus Feb HIA New Home Sales, - Aus Feb Private Sector Credit, - US Mar Dallas Fed Manf. Activity, - Germany Mar Unemployment Rate, - NZ Mar ANZ Business Confidence, - NZ Feb Building Permits Overnight Summary (Source: Reuters) Last 5,846 5,900 Change -74 49 % Change -1.25% 0.84% Past Month -1.39% -0.19% Major World Indices Dow S&P500 Nasdaq -- Europe -UK Last 17,976 2,086 4,947 Change 264 25 56 % Change 1.49% 1.23% 1.15% Past Month -0.86% -0.86% -0.32% 6,891 36 0.53% -0.80% Germany 12,086 218 1.83% 6.00% Australian Indices ASX 200 SPI -- Asia / Pacific -- Nikkei Hong Kong Korea 19,411 24,855 2,030 126 369 10 0.65% 1.51% 0.51% 3.26% 0.13% 2.23% Currencies $A / $US $A / Stg $A / Euro Last 0.7641 0.51641 0.706 Change -0.0187 -0.01067 -0.0126 % Change -2.39% -2.02% -1.75% Past Month -1.61% 2.20% 1.75% 98.026 0.74799 0.77% 2.88% DXY (USD Basket) A$ TWI 63.8 -0.7 -1.09% -0.47% 120.12 1.03 0.86% -0.03% Last Change % Change Past Month 1,185.59 47.73 -13.07 -1.14 -1.09% -2.33% -2.27 -4.08 $US / Yen Metals (LME) / Energy Gold - spot Oil - WTI Metals (LME-3mth official, $USc / lb) Aluminium 81.53 0.70 0.87% -0.96% Copper 275.88 1.22 0.45% 3.17% Nickel 584.23 -18.37 -3.05% -8.62% 57.20 -0.90 -1.55% -19.49% Thml Coal (Newcastle) SHFE Steel Rebar 2421.00 -4.00 -0.16% -2.65% Iron Ore 3M Future usd Iron Ore 51.29 52.69 -0.50 -0.45 -0.97% -0.85% -17.34% -15.78% Dual Listed Co's BHP Billiton plc Rio plc NWS A BHP ADR Last 1,512 2,817 16.22 47.18 % Change 0.30% 0.25% 0.37% 0.21% A$ equiv 29.28 54.54 21.23 30.87 Spread 2.80% 2.40% -1.71% 2.61% Futures 2.25 0.25 0.05 Next 2.00 0.13 -0.00 Next + 1 1.87 0.20 0.01 Cash Rates Australia US Euro Contacts Elizabeth Tian 02 8225 6154 [email protected] Carsten Jensen 02 8225 6184 [email protected] web: www.citifirst.com.au ph: 1300 30 70 70 For further information please contact the CitiFirst Sales desk on 1300 30 70 70. 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