tyb
>>47083 pb
BOXER45 USAF C-40C on ground at Moffett Field (Onizuka AFB) from Los Angeles Int'l depart
GORDO14 USAF E-4B Nightwatch departed Lincoln Muni after some go arounds-looks like it is heading to Wright-Patterson AFB
>>47078 pb
EXEC1F USAF C-32A continues west to Albuquerque from JBA depart
>>47049 pb
Denver first
RCH591T USAF C-17 Globemaster on ground at Denver-Buckley AFB from Dover AFB depart
China Considering Huarong Bailout With $15 Billion PBOC Backstop
One day after the latest report - this time from Reorg Research - that China was considering options for bad-debt asset manager Huarong that included restructuring the debt of its offshore unit and which again sent Huarong dollar bonds tumbling, Beijing has had enough of the daily rollercoaster and leaked through Bloomberg - which quoted the usual "people familiar with the matter" - that the central bank is considering a plan to "assume more than 100 billion yuan ($15 billion) of assets from China Huarong Asset Management, helping the state-owned company clean up its balance sheet and refocus on its core business of managing distressed debt."
As Bloomberg's PBOC source details, under the proposal that’s still being finalized and could change, a PBOC unit would assume assets from some of Huarong’s unprofitable operations. At the same time, China Huarong International Holdings Ltd., the offshore unit that issues or guarantees most of Huarong’s dollar bonds, is in the process of transferring distressed assets worth tens of billions of yuan into a separate offshore entity called China Huarong Overseas Investment Holding Co., a move which is also aimed at improving the financial health of China Huarong International, the group’s main link to overseas funding.
Naturally, if the PBOC proposal is effectuated, it would not only end the turmoil surrounding Huarong's future - and its dollar bonds - but mark a significant show of government support for a company that has faced intense investor scrutiny after missing a deadline to report earnings at the end of March.
It would also ease much of the pressure that China's dollar bond sector has found itself in in recent days as speculation about a looming debt restructuring sent Huarong’s dollar bonds to record lows last week, stoking market contagion and prompting some investors, as Bloomberg put it, "to reconsider assumptions about implicit government guarantees that have underpinned China’s credit market for decades." Understandably, Huarong’s bonds have swung wildly in recent days amid conflicting signals about the company’s fate. The company’s 4.5% perpetual bond gained 6.4 cents on the dollar to 79.8 cents on Wednesday, while its 3.75% dollar bond due in 2022 climbed 5 cents to 87.7 cents.
In retrospect, the bailout was inevitable: with nearly 1.6 trillion yuan of liabilities including $22 billion in dollar bonds, and a vast web of connections with other financial institutions, Huarong has long been among China’s most systemically important companies outside the nation’s state-owned banks. It’s also majority-owned by China’s finance ministry, making it a closely watched barometer of the government’s willingness to backstop debt of troubled state-owned enterprises. Which is why the mere speculation that Beijing would let it default was enough to send shockwaves across China's market.
Huarong and China’s three other main bad-debt managers have nearly $50 billion in outstanding dollar bonds, or about 8% of China’s overseas investment-grade credit market, data compiled by Bloomberg show. Huarong is the third largest Chinese financial issuer in international markets, according to S&P.
As Bloomberg further details, worries about the company’s fate have been most acute among offshore bondholders, in part because most of Huarong’s dollar debt contains a form of credit protection called a keepwell agreement that has yet to be fully tested in court. It’s unclear whether Huarong would be compelled to make good on more than $20 billion in dollar bonds if its offshore units especially China Huarong International were unable to repay.
The imminent PBOC bailout seeks to put an end to a saga that has enthralled China watchers since 2018, when Huarong’s then-chairman Lai Xiaomin was charged and then sentenced to death for bribery in one of the country’s biggest-ever financial scandals. Under Lai, who was executed earlier this year, Huarong moved far beyond its original mandate of helping banks dispose of bad debt. The company raised billions of dollars from offshore bondholders and expanded into everything from trust companies to securities trading and illiquid investments. Despite Huarong’s history of mismanagement, some market observers have said the costs of allowing the company to suffer a major default probably outweigh the benefits.
https://www.zerohedge.com/markets/china-considering-huarong-bailout-15-billion-pboc-backstop
Jamie Dimon says `justice was served’ after Derek Chauvin found guilty for murder of George Floyd
JPMorgan Chase CEO Jamie Dimon said Wednesday that “justice was served” after a jury found ex- Minneapolis police officer Derek Chauvin guilty on all three charges, including second-degree murder, for the killing of George Floyd. “Justice was served, it’s the beginning of a long path to fix some of these things,” Dimon said at the start of a JPMorgan event for clients with head of wealth management Kristin Lemkau.
“We haven’t solved this racial inequality problem for hundreds of years, and in fact in some decades it’s gone backwards,” Dimon said. “We can acknowledge, in my view, that America is a shining light on a hill, it’s an unbelievable country” but that there are flaws that need addressing, he said.
Dimon pointed to JPMorgan’s $30 billion commitment to help close America’s racial wealth gap, including $8 billion in mortgages to Black and Latino households. The firm’s wealth management division recently said it will hire 300 more Black or Latino advisors over the next five years. Earlier this month, Dimon said that a U.S. economic boom fueled by deficit spending and effective vaccines could “easily run into 2023,” and that the strong economy may justify elevated valuations in the stock market.
Last week, JPMorgan exceeded expectations for first-quarter profit on strong trading results and the release of $5.2 billion it had previously set aside for loan losses.
https://www.cnbc.com/2021/04/21/dimon-chauvin-conviction-in-george-floyd-death-shows-justice-was-served.html
>>47049 pb
SANYO09 USAFSOC C-32B on descent for spoopy Dugway Proving Ground (east) Michael Army Airfield from Bragg ground stop earlier
that he feels it necessary to make any social commentary about ANYTHING is ridiculous.
RCH591T USAF C-17 Globemaster departed Buckley AFB after ground stop west
Yellen lays out 'bold' climate agenda for U.S. economy, markets
U.S. Treasury Secretary Janet Yellen on Wednesday pledged to aggressively tackle climate change using all the tools at her disposal, warning that a failure to do so effectively and promptly could undermine economic growth.
To bring the U.S. economy in line with international goals of eliminating carbon emissions will “require bold and urgent action - nothing less than transforming important sectors of the global economy, especially when it comes to how we generate power and move people and goods,” Yellen said in remarks prepared for delivery to the Institute of International Finance. “We are committed to directing public investment to areas that can facilitate our transition to net-zero and strengthen the functioning of our financial system so that workers, investors, and businesses can seize the opportunity that tackling climate change presents,” Yellen said. U.S. President Joe Biden is scheduled on Thursday to convene a summit of 40 world leaders on climate change, where he is expected to unveil a target to cut emissions by roughly 50% by 2030 compared with 2005 levels. Yellen’s wide-ranging speech reflects a sharp reversal of the policies of the Trump administration, which had pulled the United States out of the 2015 Paris climate accord.
Her speech ticked through a range of plans designed to tackle the problem from all sides, including beefing up requirements for disclosure of climate risks so that investors have consistent information on which to base decisions amid rising risks from severe weather events and as governments, corporations and households move toward greener energy.
https://www.reuters.com/article/usa-treasury-yellen/yellen-lays-out-bold-climate-agenda-for-u-s-economy-markets-idUSL1N2ME25Z
cause we're all gonna die if they don't "address" climate issues...../s
~~progressive former mayor~~
FIFT
First openly gay mayor
>“I can’t wait for more!”
Rot in hell scumbag
and a trip up to Hill AFB after Dugway Proving Ground stop
SANYO09 USAFSOC C-32B on approach for Hill AFB, UT
>>47078 pb
EXEC1F USAF C-32A on descent for Albuquerque Int'l from JBA depart
Jill Biden to Visit Albuquerque Health Facility
Jill Biden plans to visit an Albuquerque health care facility as part of a three-day, two-state visit to the U.S. Southwest this week.
The White House announced Tuesday that Biden on Wednesday afternoon will be accompanied by New Mexico Michelle Lujan Griffin when the first lady visits the First Choice Community Healthcare location at South Valley Medical Center.
Biden on Thursday and Friday plans to visit the Navajo Nation's capitol in Window Rock, Arizona. Details of that stop haven't been released yet.
https://www.usnews.com/news/best-states/new-mexico/articles/2021-04-20/first-lady-jill-biden-to-visit-albuquerque-health-facility
>>47058, >>47092 pb
SAM627 USAF G5 departed Burlington, VT after a ground stop sw and avoiding some bad weather on the way south
BOXR87 USAF C-40C departed Charleston Int'l after a ground stop back to JBA
BELGA35 USAF E-4B Nightwatch en from Dyess AFB
Belga is a unit of value equivalent to five francs that was formerly used in Belgium in foreign exchange
Last activity I have for this particular tail # is April 9th from same (Dyess)
This is also the "TIMMY" ac that had a lot of action that week
USAFSOC AC's visit Oceana a lot