tyb's
JBA departures
AZAZ09O9 C-560 sw
O=operators are active
PAT009 and 007 US Army C-560's tandem track east
VENUS91 USAF C-32A (this is one of the AC used for AF2) ne
NATO30 E-3 Sentry AWACS with two tracks over UK and then over to Denmark
French AF TARPO18 and 19 Rafale fighters over sw France-compact highly maneuverable jets
RAF TARTN29 Airbus Voyager KC-3 tanker from RAF Brize Norton with _ZK429 Eurofighter out of RAF Coningsby about to get some fuel
AZAZ0909 US Army C-560 departed JBA and tracking south after a northern takeoff
Market Report-after the holiday
Wall Street loves it's Debt, Bailouts and Stock buybacks-edition
Stocks jumped Tuesday, and the S&P 500 traded above 3,000 for the first time since March 5, as hopes for an effective coronavirus vaccine combined with optimism over updates around states’ reopenings. Each of the S&P 500 and Dow traded above 2% shortly after market open. The New York Stock Exchange (NYSE) is set to reopen its trading floors Tuesday for the first time since March 20, after the coronavirus pandemic and social distancing measures forced one of the most iconic symbols of U.S. capital markets to close its doors and go fully electronic. The reopening, however, will still come with restrictions. Only a fraction of staff previously physically in the building will return to work there to facilitate social distancing, and workers will need to wear protective masks and be screened for signs of the virus before entering. Oil tested $34.50 twice Cap# 4 and Gold said meh…Silver is up 1.78%- Cap#5
U.S.-China relations remain tense. The country on Monday denounced a U.S. move to expand a so-called entity list of Chinese companies, which are restricted from doing business with U.S. firms, for alleged human rights abuses in the Xinjian Uighur Autonomous region. Meanwhile, White House national security adviser Robert O’Brien warned Sunday that the U.S. will likely sanction China if it carries through with plans for new national security laws in Hong Kong, where protests have reignited. It adds to Washington’s unhappiness over how China has handled the coronavirus outbreak. Also Sunday, China’s foreign minister Wang Yi cautioned against some political forces in the U.S. trying to push the two countries toward a “new Cold War”.
A few headlines:
Microchip plans to issue $2.2 billion worth of bonds to repay debt
https://www.marketwatch.com/story/microchip-plans-to-issue-22-billion-worth-of-bonds-to-repay-debt-2020-05-26
Warner Music kicks off $1.8 billion Nasdaq IPO
https://www.reuters.com/article/us-warner-music-ipo/warner-music-kicks-off-1-8-billion-nasdaq-ipo-idUSKBN2321C1
ECB prepares for the worst: life without the Bundesbank
https://www.reuters.com/article/us-ecb-policy-bundesbank-exclusive/exclusive-ecb-prepares-for-the-worst-life-without-the-bundesbank-sources-idUSKBN2321M7
Tupperware Tries to Contain Financial Woes With Debt Deal
Company offers to buy back bonds at distressed price
https://www.wsj.com/articles/tupperware-tries-to-contain-financial-woes-with-debt-deal-11590499695
Regeneron to buy back $5 billion in stock as Sanofi sells part of its stake
https://www.marketwatch.com/story/regeneron-to-buy-back-5-billion-in-stock-as-sanofi-sells-part-of-its-stake-2020-05-26
Investors got fresh U.S. data on Tuesday from Case-Shiller: National House Price Index increased 4.4% year-over-year in March https://www.calculatedriskblog.com/2020/05/case-shiller-national-house-price-index.html with data on new home sales in April from the Commerce Department. Airline and travel-related stocks were trading higher in heavy premarket volume Tuesday. Government bond yields were ticking higher, as the yield on the 10-year U.S. Treasury note rose over.70 and now just under-cap #3 @.69%
At 1 p.m. Eastern Time the Minneapolis Fed will hold a webinar featuring bank president Neel Kashkari and former Treasury Secretary Larry Summers.-this ought to be good..fat pig Larry Summers and "I wanted to be Governor of California" Neel Kashkari trotting out the FRB's apology lines.
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://finance.yahoo.com/quote/%5EDJI?p=^DJI
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
https://www.kitco.com/charts/livesilver.html
00-9001 USAF C-32B out of McGuire AFB, NJ sw
This is a rare sight
rules are made to be broken
^^^^^^
The Exchange Stabilization Fund (ESF) consists of three types of assets: U.S. dollars, foreign currencies, and Special Drawing Rights (SDRs), which is an international reserve asset created by the International Monetary Fund.
The ESF can be used to purchase or sell foreign currencies, to hold U.S. foreign exchange and Special Drawing Rights (SDR) assets, and to provide financing to foreign governments. All operations of the ESF require the explicit authorization of the Secretary of the Treasury ("the Secretary").
The Secretary is responsible for the formulation and implementation of U.S. international monetary and financial policy, including exchange market intervention policy. The ESF helps the Secretary to carry out these responsibilities. By law, the Secretary has considerable discretion in the use of ESF resources.
The legal basis of the ESF is the Gold Reserve Act of 1934. As amended in the late 1970s, the Act provides in part that "the Department of the Treasury has a stabilization fund …Consistent with the obligations of the Government in the International Monetary Fund (IMF) on orderly exchange arrangements and an orderly system of exchange rates, the Secretary …, with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities.
https://home.treasury.gov/policy-issues/international/exchange-stabilization-fund