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UBS AG sold: $20.81m-Mar 18-23
UBS : Suspends Further Sales of ETRACS ProShares Daily 3x Long Crude ETN Linked to the Bloomberg WTI Crude Oil Subindex ER due January 4, 2047
UBS AG today announced that it has suspended further sales from inventory of its outstanding ProShares Daily 3x Long Crude ETN Linked to the Bloomberg WTI Crude Oil Subindex ER due January 4, 2047 (Ticker: WTIU) (the “Securities“). As previously announced, the Securities will be redeemed by UBS on April 9, 2020 (the “Call Settlement Date”), and on such date, holders of the Securities will receive the Call Settlement Amount which, as described in the prospectus supplement relating to the Securities, will equal the Current Principal Amount of the Securities on April 6, 2020, being the last Valuation Date in the five consecutive Index Business Days commencing March 31, 2020 and ending on April 6, 2020. This suspension of further sales will remain in effect until the redemption of the Securities on the Call Settlement Date. UBS does not intend to make future sales of previously issued but unsold Securities or Securities that UBS Securities LLC may acquire in the future.
https://www.marketscreener.com/UBS-GROUP-AG-19156942/news/UBS-Suspends-Further-Sales-of-ETRACS-ProShares-Daily-3x-Long-Crude-ETN-Linked-to-the-Bloomberg-WTI-30219227/
Good summary of UBS' history
UBS: Corporate Rap Sheet
https://www.corp-research.org/UBS
https://www.finviz.com/insidertrading.ashx?oc=1610520&tc=7&b=2
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Czech'd AF CEF526 Airbus returning to Prague from Northern Turkey
Bank of Israel Urges Wider Deficit to Deal With Coronavirus Fallout
Government debt load to reach 70% of GDP, deficit ratio at 7%. Economy to contract 2.5% this year, before rebounding in 2021. The Bank of Israel appealed to the government to open its wallet even at the cost of a wider deficit, to help grapple with coronavirus fallout that it expects will cause the local economy to contract by 2.5% this year.
“This is the time to support businesses and citizens so that the crisis will not deepen,” Governor Amir Yaron said at an unprecedented online news conference. “Without an economy there also won’t be health.”
Yaron’s pivot from deficit hawk to dove is part of a worldwide trend by central banks to ask governments to step up as the virus drives economies into decline, at a time when monetary policy can’t undo much of the damage. If at the start of the year he was warning of an overly wide gap, then he’s had to shift gears as the government’s stringent measures to contain the virus closet many people at home and shut down large parts of the economy. The government has had to constrain its fiscal firepower because three inconclusive elections have left it without a permanent government since December 2018 – and no updated 2020 budget.
It has so far put into effect crisis measures worth about 29 billion shekels over the past two weeks, largely composed of government-backed loans and payment deferrals. Under pressure to do more, Prime Minister Benjamin Netayahu asked officials on Sunday to come up with an “extensive and significant relief package.”
https://www.bloomberg.com//news/articles/2020-03-24/bank-of-israel-in-180-urges-wider-deficit-as-virus-shuffles-deck