6 Jan 2015
M&A pipeline remains USD-positive – Nomura
FXStreet (Barcelona) - Research Analysts at Nomura note that the net pending M&A flows are largely similar to previous November, with USD anticipated to benefit the most from these pending flows, while JPY and EUR are expected to have negative flows.
Key Quotes
“Net pending M&A flows remain largely similar to November for many countries. The pipeline became slightly more positive for the US (increasing to $69bn from $65bn) while it remained the same for the EUR at -$29bn."
"The expected flows for Japan and Canada also remained stably negative, with Japan's shifting only to -$11bn from -$12bn and Canada's flat at -$12bn.“
“Australia has seen a relatively large decline in its net pending M&A flows. The M&A pipeline is now the most negative it has been for several years, as the net pending flows have decrease to -$6bn in December from $1bn in November and $6bn in October."
"By contrast, the pipeline for the United Kingdom shifted to positive from negative during December, to $3bn from -$10bn.“
“The currency expected to benefit the most from pending flows remains the USD. Other countries are expected to be somewhat less negative, especially GBP. However, JPY and EUR are still expected to have substantial negative flows from pending M&A activity. The latest data also show slightly more negative inflows into CHF and AUD.”
Key Quotes
“Net pending M&A flows remain largely similar to November for many countries. The pipeline became slightly more positive for the US (increasing to $69bn from $65bn) while it remained the same for the EUR at -$29bn."
"The expected flows for Japan and Canada also remained stably negative, with Japan's shifting only to -$11bn from -$12bn and Canada's flat at -$12bn.“
“Australia has seen a relatively large decline in its net pending M&A flows. The M&A pipeline is now the most negative it has been for several years, as the net pending flows have decrease to -$6bn in December from $1bn in November and $6bn in October."
"By contrast, the pipeline for the United Kingdom shifted to positive from negative during December, to $3bn from -$10bn.“
“The currency expected to benefit the most from pending flows remains the USD. Other countries are expected to be somewhat less negative, especially GBP. However, JPY and EUR are still expected to have substantial negative flows from pending M&A activity. The latest data also show slightly more negative inflows into CHF and AUD.”