PlaneFag Europe/Med activity: Brazilian President Lula departed Madrid, Hungary, Bulgaria, Romania, Czech AFs departed Warsaw
BRS01 A319 ==President Lula departed Madrid SW escorted by BRS09 Embraer 190 with BRS10 Emb 190 heading to Madrid (shows as 2101)
Brazil’s Lula says no use saying ‘who is right’ in Russia-Ukraine conflict
https://english.alarabiya.net/News/world/2023/04/26/Brazil-s-Lula-says-no-use-saying-who-is-right-in-Russia-Ukraine-conflict
Brazil’s Lula visits Spain with Mercosur deal on agenda
https://apnews.com/article/brazil-lula-visit-spain-eu-mercosur-e0277d8690a612de017e7b409ffadb05
Hungarian AF HUAF186 A319 departed Warsaw after about 8h on ground-came straight from Kecskemet AB-so not Pres or FM (those 2 would be picked up in Budapest from K AB) also haz Romanian AF ROF176 C-27J Spartan Bulgaria AF 020 Pilatus PC-12 and Czech AF C-295 Persuader also departed Warsaw
Italian AF IAM1496 G5 departed Tashkent from Innoprom-Central Asia international industrial exhibition and VP was there too
Putin greets participants of the exhibition in Tashkent
https://www.plenglish.com/news/2023/04/25/putin-greets-participants-of-the-exhibition-in-tashkent/
Also Italian AF4632 C-130j departed Rzsesow Airport SW and IAM4664 C-130 hercules left Aqaba, Jordan NW
JAKE11 RC-135 River Joint was over eastern Romania (where the Global Hawk drone was yesterday)
Dutch AF MMF39 A330 NW from Muwaffaq Salti Air Base, jordan
Indian AF IFC5323 C-17 NW from Delhi depart
French AF CTM1046 A330 also NW and last seen heading toward Djibouti on 0421
in front of CBDC rollout
After dropping 8.8% last week (WoW) pretty much nowhere else to go for it
MBA: Mortgage Applications Increased in Weekly Survey
Mortgage applications increased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 21, 2023.
The Market Composite Index, a measure of mortgage loan application volume, increased 3.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5 percent compared with the previous week. The Refinance Index increased 2 percent from the previous week and was 51 percent lower than the same week one year ago. The seasonally adjusted Purchase Index increased 5 percent from one week earlier. The unadjusted Purchase Index increased 6 percent compared with the previous week and was 28 percent lower than the same week one year ago. “Both conventional and government home purchase applications increased last week. However, activity was still nearly 28 percent below last year’s pace, as high mortgage rates and low supply have slowed the market this year, even as home-price growth has decelerated in many markets across the country,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Refinance applications also increased last week but remained at half of last year’s levels. Although incoming data points to a slowdown in the U.S. economy, markets continue to expect that the Fed will raise short-term rates at its next meeting, which have pushed Treasury yields somewhat higher. As a result of the higher yields, mortgage rates increased for the second straight week to their highest level in over a month, with the 30-year fixed rate now at 6.55 percent.”
..
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.55 percent from 6.43 percent, with points remaining at 0.63 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. According to the MBA, purchase activity is down 28% year-over-year unadjusted With higher mortgage rates, the refinance index declined sharply in 2022.
https://www.calculatedriskblog.com/2023/04/mba-mortgage-applications-increased-in_02143723372.html
https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed
when you (FED) are a private Corp that's how
>>18755691 pb First Republic Bank shares hit record low (-27.66%)
Jamie Dimon’s Deeply Conflicted Role as “Rescuer” of First Republic Bank Requires a Credible Investigation
Dimon, who has come under withering negative publicity for the bank’s many years of catering to the cash payoff needs of child sex trafficker Jeffrey Epstein, had an urgent incentive to want to change the subject. So a media blitz ensued around his role as rescuer of the sinking carcass of a much smaller bank, First Republic Bank – which has its own dubious distinction of being the bank that wired the hush money to porn star Stormy Daniels by Trump attorney, Michael Cohen.
For just how broadly Dimon’s “rescue” of First Republic Bank has been reported, scroll down at this link. Only someone living off the grid or in a coma did not hear that Jamie Dimon was riding to the rescue of First Republic Bank. But as early as Tuesday, March 28, during a Senate Banking hearing, it became clear that when First Republic finally got around to updating the public on the severity of its distressed situation (which it finally did on Monday in a 12-minute earnings call that took no questions from anyone), the news was going to be devastating to the bank.
At the Senate Banking hearing, the Vice Chairman for Supervision at the Fed, Michael Barr, explained just how fast deposits can evaporate from a bank in the new digital age, especially when tens of billions of dollars of those deposits exceed the FDIC insurance cap of $250,000 per depositor, per bank. Barr told the Senators that in the case of Silicon Valley Bank, $42 billion in deposits had left the bank on Thursday, March 9, and bank customers had queued up $100 billion more to exit the following day. Silicon Valley Bank did not have adequate collateral to post at the Fed to borrow funds to meet that $100 billion in withdrawals, thus the bank was put into FDIC receivership on March 10. No depositor has ever lost a dime of deposits in an FDIC-insured bank if they have kept those deposits in FDIC-insured accounts and within that $250,000 FDIC cap. Both Silicon Valley Bank and First Republic Bank are California-headquartered regional banks. The contagion from Silicon Valley Bank had directly impacted First Republic Bank. By the date of that Senate Banking hearing on March 28, First Republic’s common stock had lost 90 percent of its market value – just in the month of March. It might be possible to come back from that if one is a start-up tech firm, or an acknowledged high-risk innovator. But Americans put their money in federally-insured banks because they want safety; because they want the peace of mind of knowing their deposits will be protected despite what happens in the Wall Street casino on any given day. In that vein, Jamie Dimon was the worst possible choice to head up a rescue of First Republic Bank as he is the personification of what happens when a trading casino is allowed to own the largest federally-insured bank in America. Under Dimon’s tenure at the helm of JPMorgan Chase, it has been charged with losing $6.2 billion of depositors’ money by gambling in derivatives in London; its precious metals traders have been charged under RICO – the statute used to prosecute the mob; it has received an unprecedented five felony counts from the U.S. Department of Justice, including aiding and abetting the largest Ponzi scheme in history by Bernie Madoff, and on and on.
But Jamie Dimon has a legion of public relations flacks shaping his image as a titan of Wall Street wisdom and he has clearly gotten high on his own p.r. supply. So Dimon cajoled three other mega banks on Wall Street to join his bank and dump $5 billion each of uninsured deposits into First Republic Bank on March 16. Those banks were Bank of America, Citigroup and Wells Fargo. In addition, Morgan Stanley and Goldman Sachs deposited $2.5 billion each; while BNY Mellon, State Street, PNC Bank, Truist and US Bank each deposited $1 billion, bringing the total infusion to $30 billion. In addition, according to First Republic, JPMorgan Chase had also provided a line of credit to the bank. Multiple media outlets also reported that JPMorgan Chase and Lazard were advisors to First Republic Bank on its options going forward
moar
https://wallstreetonparade.com/2023/04/jamie-dimons-deeply-conflicted-role-as-rescuer-of-first-republic-bank-requires-a-credible-investigation/
N628TS G650Elon Muskdeparted Austin Int'l just began descent to DC
from today
Tesla drops cost of Model Y to below U.S. average car price
https://www.washingtontimes.com/news/2023/apr/26/tesla-drops-cost-model-y-below-us-average-car-pric/
>>18755668 lb
SAM698 G5 on ground at Sacramento-McClellan Field while SAM881 G5 is heading to Moffett Federal Airfield
Mexi Po-Po XCOPF 727 south from stop at Ciudad Juarez