(2) *HONEYWELL OFFERS $108/SHARE SEEKS TO RE-ENGAGE WITH UTX

*HONEYWELL OFFERS $108/SHARE SEEKS TO RE-ENGAGE WITH UTX

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

Tickers
HON US (Honeywell International Inc)
UTX US (United Technologies Corp)

People
David Cote (Honeywell International Inc)
Gregory Hayes (United Technologies Corp)
Mark MacAluso (Honeywell International Inc)
Robert Ferris (Honeywell International Inc)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Personal Income/Spending, GDP Due in 5 Minutes

U.S. ECO PREVIEW: Personal Income/Spending, GDP Due in 5 Minutes

(Bloomberg) -- Personal income seen rising 0.4% in Jan. after increasing 0.3% (forecast range +0.2% to +0.7%); tracks wages and salaries, investment and rental income, transfer payments.
  • Personal spending seen rising 0.3% in Jan. after showing no change in Dec. (forecast range -0.1% to +0.5%); tracks spending on goods and services, is used to calculate GDP
    • Real personal spending (adjusted for expected 0.0% m/m change in PCE deflator) seen rising 0.3% in Jan. after increasing 0.1% in Dec. (forecast range +0.2% to +0.4%); adjusted for inflation
  • Revised 4Q gross domestic product seen expanding at 0.4% annual rate vs govt’s initial est. of 0.7% gain (forecast range +0.1% to +0.9%); 3Q GDP expanded at 2% pace
    • Would be weakest GDP rate since 1Q 2014
  • Advance trade deficit in goods seen at -$61.2b in Jan. vs - $61.5b in Dec. (forecast range -$57.3b to -$64b); tracks value of merchandise trade
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: UST MORNING CALL: Bonds No Longer Need ‘Promise of Upside’

UST MORNING CALL: Bonds No Longer Need ‘Promise of Upside’

(Bloomberg) -- “Unlike stocks, bonds no longer need the promise of upside potential to hold their position -- a major change from early February and an important takeaway from this week,” as “rates can be afford to be data dependent,” FTN strategist Jim Vogel says in note.
  • Other observations from strategist morning notes:
  • BMO (Aaron Kohli): “Lack of a stronger response from the Treasury market given the risk moves suggests to us that the month-end buying effects are already having an impact”
  • Marty Mitchell (independent): Yday “month-end related buying contributed to the bid in Treasuries with some index buyers getting a head start,” and “it was a belly-led bid throughout the day in a session where the bond market disassociated itself from oil and stocks”
    • “While the moving averages have crossed positively on oil and stocks, they have not yet crossed negatively on the 10yr,” so “for that reason, discipline suggests that buying on dips in the bond market remains the preferred strategy”
  • RBS (John Briggs): “Treasury investors, here and abroad, will need an accumulation of evidence to be convinced that the market volatility of 2016 has abated, and that the economy has withstood its negative implications”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Aaron Kohli (Bank of Montreal)
Jim Vogel (Ftn Financial)
John Briggs (RBS Securities Inc)
Marty Mitchell (The Mitchell Market Report LLC)

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UUID: 7947283

HALISTER: $3.3 Billion Dynegy Deal Offers Model for Buying Unloved Plants

$3.3 Billion Dynegy Deal Offers Model for Buying Unloved Plants

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
DYN US (Dynegy Inc)
769664Z US (Energy Capital Partners LLC)
ENGI FP (Engie SA)
NRG US (NRG Energy Inc)
TLN US (Talen Energy Corp)

People
Barry Perry (Fortis Inc/Canada)
Praful Mehta (Citigroup Inc)
Robert Flexon (Dynegy Inc)

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UUID: 7947283

HALISTER: BASF Reluctant to Join Frenzy of Deals in Agricultural Chemicals

BASF Reluctant to Join Frenzy of Deals in Agricultural Chemicals

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BAS GR (BASF SE)
SYNN VX (Syngenta AG)
CHNCCZ CH (China National Chemical Corp)
MON US (Monsanto Co)
DOW US (Dow Chemical Co/The)

People
Kurt Bock (BASF SE)

Topics
CEO Interviews

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UUID: 7947283