HALISTER: Ford Cancels Plans for New $1.6b Mexico Plant

Ford Cancels Plans for New $1.6b Mexico Plant

(Bloomberg) -- Ford scrapping plans for a new $1.6b plant in San Luis Potosi, Mexico, and investing $700m in Flat Rock, Michigan, plant expansion.
  • Ford to build next-generation Focus at existing plant in Hermosillo, Mexico, to improve company profitability
  • NOTE: Dec. 3, Ford Willing to Work With Trump If Policies Are Right: CEO (Link)
Statement: Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
F US (Ford Motor Co)

Topics
First Word DC - Foreign Policy

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: ISM Manufacturing, Construction Due in 5 Mins.

U.S. ECO PREVIEW: ISM Manufacturing, Construction Due in 5 Mins.

(Bloomberg) -- ISM Manufacturing PMI seen at 53.8 in Dec. vs 53.2 in Nov. (forecast range 52 to 55); readings above 50 signal growth, below 50 contraction.
  • Prior reading was strongest in 5 months, led by production; 11 of 18 sectors reported growth
  • Construction spending seen rising 0.5% in Nov., same as Oct. (forecast range -0.5% to +1%); based on value of residential and non-residential projects
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: EUR/USD Slide at Odds With Becalmed Bund/UST Spread: Charts

EUR/USD Slide at Odds With Becalmed Bund/UST Spread: Charts

(Bloomberg) -- As EUR/USD attempts to close at the lowest level since 2003, the strongly correlated bund/UST 10Y spread is treading water with EUR two-week option put premium showing dwindling appetite to add fresh downside bets, Bloomberg FX strategist Sejul Gokal writes.
  • See chart here; spread hit -226bps vs -238bps multi-year wide seen on Dec. 27
  • 30-day rolling correlation between EUR/USD and bund/UST spread has been strong and stable at around +0.90
  • Move in EUR/USD may struggle to sustain should yield spread not follow; 1-week 25d risk-reversals at 40bps for EUR puts, while slightly higher today, have been steadily falling since mid-December high of 99bps
  • Large expiries in the back-end of this week at 1.05, totaling EU3.7b, may contain fall and attract price toward significant strike level; 21-DMA at 1.0504
  • Support at 1.0372 (Dec. 18 low) and 1.0352 (Dec. 20 low)
  • NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)

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UUID: 7947283

(2) *BERKSHIRE TO GET $650M FROM HARTFORD IN ASBESTOS RISK SWAP

*BERKSHIRE TO GET $650M FROM HARTFORD IN ASBESTOS RISK SWAP

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
BRK/A US (Berkshire Hathaway Inc)
HIG US (Hartford Financial Services Group Inc/The)

People
Sabra Purtill (Hartford Investment Management Co)

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UUID: 7947283