tyb
>>10276142 Mercedes-Benz maker to pay $2.2B to settle US diesel emissions claims
Daimler, the maker of Mercedes-Benz cars, says it has reached an agreement in principle to settle US claims over emissions from its diesel vehicles for over $2.2 billion.
The Stuttgart, Germany-based automaker said late Thursday that the agreement with various US authorities concerns civil and environmental claims involving about 250,000 diesel cars and vans.
The company said the civil cases related to a a consumer class-action lawsuit pending before the US District Court for the District of New Jersey.
Daimler said in a statement that the settlement will result in costs of about $1.5 billion, while the civil suit will incur a one-off charge of about $700 million. It estimated that “further expenses of a mid three-digit-million” euros would be required to fulfill requirements of the settlements.
Daimler said its board of management and the supervisory boards of Daimler and Mercedes-Benz approved the proposed settlements, but noted that they are subject to final approval by the relevant authorities and courts.
Like rival Volkswagen and other automakers, Daimler was caught advertising lower emissions for its diesel vehicles than they actually produced.
https://nypost.com/2020/08/13/daimler-to-pay-2-2b-to-settle-us-diesel-emissions-claims/
notable
AZAZ09O9 US Army C-560 departed El Paso Int'l after an overnight ne and fairly certain it is heading to Ft. Leavenworth-these C-560's have been in/out of there many times.
GTMO845 US Navy Beech Huron departed NAS Jax se after ground stop and on ground at Ft. Lauderdale
U2ABC123 U-2S Dragon Lady out of Skunkworks at 60k/ft and had a pass over downtown LA prior to current pattern over southern Central Valley, CA
Been up for a bit now
Treasuries Tumble After 30Y Auction Bombs
After the stellar, record-sized 3Y and 10Y auctions earlier this week, moments ago the Treasury concluded refunding week with another record auction, this time in the form of an all time high $26BN in 30Y bonds. However besides the record auction size, today's 30Y sale had nothing in common with this week's prior coupon auctions both of which passed with flying colors, as this was without doubt the ugliest 30Y auction in years.
Pricing at a high yield of 1.406%, this was a 2.4bps tail to the 1.382 When Issued - the biggest tail since last July - and well above last month's 1.357%.
The other metrics were far worse, however, with the Bid to Cover plunging from 2.50 to just 2.136, the lowest since July 2019 and one of the lowest on record.
The internals were even uglier, with Indirects plunging from 72% to 59.8%, the lowest since November and well below the 66.2% six-auction average. And with Directs taking down just 11.9%, it left Dealers holding a whopping 28.3% of the sale, the most since July 2019-Primary Dealers. Overall, this was a very ugly auction, and due to the record auction size, or due to today's massive Apple concurrent issuance or just because of rising reflation fears, whatever the reason the curve quickly repriced sharply wider, and as the 30Y yield spiked to a level from early July, the 10Y yield has pushed above 0.70%-Cap#4
Curiously, the unexpectedly ugly auction also sparked a bit of a trapdoor effect in stocks which also dipped suggesting that even a glimmer of validated reflation creeping into bond auctions will be enough to shock both the stock and bond market.
https://www.zerohedge.com/markets/treasuries-tumble-after-dismal-30y-auction-shocks-traders
https://www.marketwatch.com/investing/bond/tmubmusd10y
pretty much ded except for the recycling process
99-6143 USAFSOC C-32B did not go to Vandenberg AFB, instead it is east out of Nevada Test and Training Range nw of Las Vegas