tyb
>>6206777 lb
trips confirm
really mature there anon
U.S. Justice Department tells T-Mobile, Sprint it has concerns about merger
April 16 (Reuters) - The U.S. Justice Department has told T-Mobile US Inc and Sprint Corp it has concerns about their proposed $26 billion merger in its current structure, sources familiar with the matter said on Tuesday, although no final decision has been made.
Sprint shares fell about 9 percent after the bell as investors increased bets the deal would not be completed following a Wall Street Journal report the merger is unlikely to be approved as currently structured. Shares of T-Mobile fell 4 percent.
The deal had been criticized by consumer advocates and some lawmakers because it would reduce the number of national wireless carriers available to consumers to three from four.
A final decision on the deal is likely near the end of the 180-day Federal Communications Commission review period that expires in June.
T-Mobile US Chief Executive John Legere was in Washington on Tuesday and has meetings later this week at the FCC, two people briefed on the matter said.
Legere said on Twitter it was "simply untrue," as had been reported, that Justice Department staff had told the companies the deal was unlikely to be approved in its current form. The Justice Department declined to comment.
Sprint Executive Chairman Marcelo Claure said the Wall Street Journal report was not accurate. "We continue to have discussions with regulators about our proposed merger with
@TMobile. That process is ongoing," Claure wrote on Twitter.
A third person familiar with the investigation said the probe was going along as expected, adding there had been no serious discussion of any divestitures of spectrum or other assets and that much of the conversation with regulators had been about proposed efficiencies in the development of 5G.
The agreement to combine the carriers, struck in April 2018, was approved by both companies' shareholders in October and has received national security clearance, but still needs approval from the Justice Department and FCC. A number of state attorneys general are also reviewing the deal.
LAWMAKERS QUESTION DEAL
Executives from both companies faced tough questions from lawmakers in February about how the companies' planned merger would affect prices and jobs, especially in rural America.
A group of eight Democratic U.S. senators and independent Senator Bernie Sanders urged the Justice Department and FCC to reject the deal, saying monthly bills could rise as much as 10 percent.
To win support for the deal, T-Mobile had said it would not increase prices for three years and has pledged to use some spectrum for wireless broadband in rural areas.
Legere has also pledged to build 5G without using networking equipment from Huawei Technologies Co Ltd or ZTE Corp , two Chinese telecommunications firms distrusted by U.S. national security experts.
https://www.nasdaq.com/article/us-justice-department-tells-tmobile-sprint-it-has-concerns-about-merger-20190416-01129
anyone remember this setup?
A). This guy is a broken clock-right twice a day
B). redemption freeze's were a big part of the '08 crash. Have not seen very many of these during this 'rodeo'. A few here and there but I wouldn't put too much in it.
Is it a possibility? Sure. They have not finished pushing out all the crappy IPO's yet and it's still earning's season.
China's Bond Vigilantes Loom As Economic Data Stabilizes
All hope-filled eyes are straining at tonight's data deluge from China for signs that confirm the PMI spike (and exports rebound) that fueled the latest leg higher in global stocks and bond yields.
Remember, the official narrative is that after a rocky start to the year, the roll out of targeted stimulus has boosted investment, buoyed consumption and helped the manufacturing sector.
Or put another way, thanks to unprecedented injections of credit and endless fiscal and monetary largesse, Chinese stocks have tracked aggressively higher, following China's world-leading credit impulse back from the abyss
And thanks to that resurgence of China's credit impulse (in the face of a Fed that has talked a lot but done nothing), the divergence between US and Chinese macro data performance is at an extreme.
The headliner…
*China Q1 GDP Growth YoY BEAT at +6.4% vs +6.3% expected (and +6.4% prior)
That is still equal to the weakest Chinese growth on record (at least 27 years), the same as the Q1 2009 plunge lows.
And the undercard:
*China March Industrial Production YoY BEAT at +6.5% vs +5.6% expected (up from +5.3% prior)
*China March Retail Sales YoY MEET at +8.3% vs +8.3% expected (up from +8.2% prior)
*China March Fixed Asset Investment YoY MEET at +6.3% vs +6.3% expected (up from +6.1% prior)
*China March Property Investment YoY ROSE to 11.8% from +11.6% YoY prior
*China March Surveyed Jobless Rate FELL to 5.2% from 5.3% prior
Graphically…(see cap 3)
All of which could be a problem.
(cap 2 shows the repo rate spazzing(circled red text) out over last 8 months or so. It is now breaking out to the upside and little can be done about it.)
As Bloomberg notes, for China bonds, already the worst performer among the world's debt markets this year, things may be about to get worse. The figures tonight on the economy confirm broad improvement for March. That'll tend to help stocks and sap demand for the safety of government debt. What's more, the PBOC is adopting a hawkish tone, emphasizing it plans to control excessive money supply amid signs of a recovery. Overnight repo rates just jumped to the highest in 4 years.
As Bloomberg notes, much of this year's rally in bonds and stocks have to do with the PBOC re-opening liquidity tap. But China's central bank is now stepping back. Here's the timeline:
The much anticipated reserve ratio cut on April did not materialise; the PBoC skipped open-market operations for 18 days in a row; this morning, the new MLF PBOC offered is not enough to cover the retiring one.
(In other words they need a bigger boat and do not have one)
All of that suggests the government will have a tough time finding buyers for its 1- and 10-year bonds up for sale Wednesday.
And with Chinese yields accelerating at an extreme pace, we wonder if China's unprecedented stimulus (record credit injections and endless fiscal and monetary promises) may be about to bite them in the arse as it appears there is at least one nation left with Bond Vigilantes still standing… who will stymie a fragile economic rebound with a soaring cost of capital and a vicious cycle that PBOC will struggle to escape - withdraw/slow stimulus chatter to avoid incendiary default-inducing rate spike (but face economic and equity market slump), or keep the pedal to the metal blowing bubbles around the world until it all goes pop.
https://www.zerohedge.com/news/2019-04-16/chinas-bond-vigilantes-loom-economic-data-stabilizes
(they will pop before we do)
>But we shouldn't forget, newfags are are just beginning. I.E. in the everything means something stage.
Very good point. All newfags at one point