tyb
JBA Departures:
SAM748 USAF G5 and VM767 USMC C-560 sw
SPAR701 USAF Learjet C21 and C101 US Coast Guard G5 west
Yerp action
SAM737 USAF G5 left Ramstein AFB nw
DUKE63 US Army departed 33 Baza Lotnictaw transportowego-Powidz, Poland
NATO E-3 Sentry AWACS in Northern Poland trackin' it-from RAF Waddignton
BUZRD32 USAF F-16 out of Aviano AB out in the Adriatic Sea
FALCN19 USAF Learjet C21A outo f Kosovo nw
China's Baidu Considers Delisting From Nasdaq; Stock Tumbles, Drags Chinese Megacaps Lower
The US can't kick out Chinese companies from US stock exchanges if said Chinese companies delist first.
That is probably what went through the head of Chinese search giant Baidu - metaphorically speaking - one day after the Senate passed a bill on Wednesday that could stop some Chinese companies listing on U.S. exchanges unless they follow standards for U.S. audits and regulations in an escalation of a long-running dispute between Washington and Beijing about giving U.S. regulators access to Chinese audits.
In response, Reuters reports that Chinese search engine giant Baidu is considering delisting from the Nasdaq and moving to an exchange closer to home "to boost its valuation" amid rising tension between the United States and China over investments, three sources said. It wasn't clear how moving away from the biggest pool of megatech bubbles in the world, the Nasdaq, to some other exchange would "boost its valuation" but whatever: clearly the political feud between Trump and Xi is now translating into soft capital controls, and explains why Baidu stock tumbled on the news, sliding briefly below $100 after dropping first yesterday on news of the Senate bill. As Reuters further reports Baidu - one of China’s first US listings - is reaching out to "trusted advisers" to see how it could best be done if it were to proceed, including looking at issues around funding and any regulatory reaction although the discussions are at an early stage and are subject to change, said the sources, who spoke on condition of anonymity because the matter is not public.
The company pointed to comments by co-founder and CEO Robin Li who told the state-controlled China Daily on Thursday that Baidu was paying close attention to the tighter U.S. scrutiny of Chinese companies listed in the country.
“For a good company, there are many choices of destinations for listing, not limited to the U.S.,” he told the newspaper. The sources also said that Baidu believed it was undervalued on the Nasdaq exchange in New York; which probably answers our question from above, if not actually "how" it is undervalued. In other words, Baidu wants to be closer to the chronically insane momentum-chasing gamblers that make up the Chinese investing class.
Baidu’s shares have fallen more than 60% since their peak in May 2018 while the Nasdaq Golden Dragon China Index, which tracks Chinese firms listed on the U.S. exchange, has lost less than 10% over the same period. Baidu’s market cap just below $30 billion is only 5% of the market value of Alibaba, which has shares listed in Hong Kong and American Depository Shares listed in New York.
In January, Reuters reported that Baidu, Ctrip and NetEase have all held preliminary talks with Hong Kong Exchanges and Clearing about a possible secondary listing to follow Alibaba in establishing an investor base closer to China.
https://www.zerohedge.com/markets/chinas-baidu-considers-delisting-nasdaq-stock-tumbles-drags-chinese-megacaps-lower
BANE1 F-16 out of Randolph AFB, San Antonio
saw him go out just after. Another one at MACH21!
NAS Jax P-8 Poseiden and KC-135R tanker action.
Moving day for two heading to NAS Whidbey Island nw
VVLL824 and 827 nw
_63-8035 KC=135R tanker off Space Coast with _AE6849 coming out
VVLL880 P-8 went to Montgomery, AL for some low alt runs and now east to Robins AFB fly-by continuing se
U.S. existing home sales post largest decline in nearly 10 years
U.S. home sales logged their biggest drop in nearly 10 years in April as the novel coronavirus pandemic upended the labor market and broader economy, undercutting demand for housing. The National Association of Realtors said on Thursday existing home sales plunged 17.8% to a seasonally adjusted annual rate of 4.33 million units last month. The percentage decline was the largest since July 2010.
Existing home sales, which make up about 90% of U.S. home sales, dropped 17.2% on a year-on-year basis in April. The report came on the heels of data on Tuesday showing a record collapse in homebuilding and permits in April.
It added to a plunge in retail sales and manufacturing production last month in strengthening economists’ predictions for the biggest contraction in gross domestic product in the second quarter since the Great Depression.
The worst of the housing market slump is likely behind as the country reopens after a near total shutdown since mid-March to slow the spread of COVID-19, the respiratory illness caused by the coronavirus. With at least 21.4 million people losing their jobs in March and April, however, the housing market could remain subdued for a while even with mortgage rates near record lows.
Home sales last month declined in all four regions. There were 1.47 million previously owned homes on the market in April, the lowest on record for the month and down 19.7% from a year ago. The NAR said some sellers had either withdrawn or withheld their properties from the market following the stay-at-home orders.
The median existing house price jumped 7.4% from a year ago to a record $286,800 in April. At April’s sales pace, it would take 4.1 months to exhaust the current inventory, down from 4.2 months a year ago. A six-to-seven-month supply is viewed as a healthy balance between supply and demand.
https://www.reuters.com/article/us-usa-economy-housing/u-s-existing-home-sales-post-largest-decline-in-nearly-10-years-idUSKBN22X1S4
on another note
FHFA Proposes New Capital Framework For GSEs
The new proposal is the FHFA’s second attempt at creating a new capital plan, building on a previous proposal put out in 2018 under prior leadership. The new plan would establish higher capital requirements for the two - if the proposal had been in effect in 2019, the pair would have had a cushion of roughly $243 billion, the FHFA said.
https://dsnews.com/daily-dose/05-20-2020/fhfa-proposes-new-capital-framework-for-gses
https://www.reuters.com/article/us-usa-housing-fanniefreddie-idUSKBN22W31C
Those 2 P-8's heading nw are now on low altitude fly over at Huntsville Int'l Airport, AL at 2900/ft.
Guess it's not mvoing day yet.