HALISTER: GM Canada to Hire 700 Engineers in Push for Self-Driving Cars

GM Canada to Hire 700 Engineers in Push for Self-Driving Cars

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GM US (General Motors Co)

People
Justin Trudeau (Canada)
Kathleen Wynne (Province of Ontario Canada)
Mark Reuss (General Motors Co)
Stephen Carlisle (General Motors of Canada Ltd)

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UUID: 7947283

HALISTER1: BRL Tracks Global Risk Sentiment; Reforms Monitored: CA Indosuez

BRL Tracks Global Risk Sentiment; Reforms Monitored: CA Indosuez

(Bloomberg) -- Drop in Brazil’s currency and stocks reflect broad EMFX correction after recent gains; investors are monitoring key developments on reforms proposed by acting president Temer, Vladimir Caramaschi, chief-strategist at Credit Agricole Indosuez, says in a phone interview.
  • Reports Temer proposal to limit public spendings are suffering political pressures to be changed are relatively concerning
  • “The market expects the measure to be approved as soon as possible and with an amplitude as broad as possible”
    • While broader changes could risk impacting spending limits, slight ones could be acceptable, Caramaschi says
  • Investors are also watching the steps on FX policy taken by BCB, now under Ilan Goldfajn governance
    • “The new BCB board likely to be more orthodox than that led by Tombini. Goldfajn may show bigger tolerance over FX fluctuations”
    • Even being less interventionist than Tombini, Goldfajn probably will act in FX market; USD/BRL level where the intervention may occur is unclear, Caramaschi says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Vladimir Caramaschi (Credit Agricole Brasil SA DTVM/Brazil)
Ilan Goldfajn (Banco Central do Brasil)
Michel Temer (Federative Republic of Brazil)

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UUID: 7947283

HALISTER1: FOMC Unlikely to Provide Hint About Rate Hike Timing: BofAML

FOMC Unlikely to Provide Hint About Rate Hike Timing: BofAML

(Bloomberg) -- Fed Chair Yellen is likely to reaffirm FOMC expects it’ll be appropriate to raise rate this yr, though will “stay away from any timeline,” BofAML economist Michael Hanson writes in note.
  • Anticipate “relatively few changes” to June statement given that it’s a “‘wait and see’ meeting”; don’t expect any “explicit signals” about subsequent mtgs
    • FOMC may acknowledge labor mkt has softened, though could offset it by suggesting U.S. has reached full employment
    • Don’t expect Fed to provide “balance of risks assessment,” though may keep language about closely monitoring inflation indicators, and global and economic financial developments
    • Fed should continue to “advocate a patient, gradual and data-dependent approach” to normalizing
  • “Relatively low probability” that median number of hikes for 2017, 2018 will decline to 3 from 4
    • Changes to 2017 would require all 5 Fed officials currently signaling 4 hikes to switch to 3
  • Productivity outlook may be actively debated; if FOMC builds a lower productivity assumption into forecast, then it’ll “likely trim” the longer-run funds rate target and GDP growth rate
  • Hurdle for July rate hike is “relatively high”
    • BofAML’s base case remains for Sept. rate hike
  • NOTE: Fed fund futures fully pricing next rate hike around May/June 2017; May17 implied rate 61bps, Jun17 63bps, near midpoint of 50-75bp target range
    • Probability of June rate hike 0%, July 20%, Sept. 36%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Michael Hanson (Bank of America Corp)

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UUID: 7947283

HALISTER: Mine Superpower Status Awaits Peru If New Leader Can Woo Farmers

Mine Superpower Status Awaits Peru If New Leader Can Woo Farmers

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
NEM US (Newmont Mining Corp)

People
Alfredo Thorne (Thorne & Associates Sac)
Cesar Perez-Novoa (BTG Pactual Chile SA Corredores de Bolsa)
Keiko Fujimori Higuchi (Fndn Peruana Cardioinfantil)
Ollanta Tasso (Republic of Peru)
Pedro Kuczynski Godard (TRG Management LP/USA)

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UUID: 7947283

HALISTER: Buffett’s Power Play Pits Las Vegas Casinos Against Energy Unit

Buffett’s Power Play Pits Las Vegas Casinos Against Energy Unit

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BRK/A US (Berkshire Hathaway Inc)
LVS US (Las Vegas Sands Corp)
MGM US (MGM Resorts International)
WYNN US (Wynn Resorts Ltd)

People
Warren Buffett (Berkshire Hathaway Inc)
Gregory Abel (Berkshire Hathaway Energy Co)
John McManus (MGM Resorts International)
Paul Caudill (NV Energy Inc)
Ronald Reese (Las Vegas Sands LLC)

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UUID: 7947283

HALISTER: Latam Plans Cuts to A350/787 Orders as Brazilian Traffic Slumps

Latam Plans Cuts to A350/787 Orders as Brazilian Traffic Slumps

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BA US (Boeing Co/The)
AER US (AerCap Holdings NV)
AIR FP (Airbus Group SE)
IAG LN (International Consolidated Airlines Group SA)
LAN CI (Latam Airlines Group SA)

People
Enrique Plaza (Latam Airlines Group SA)

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UUID: 7947283