BlackMask Breaking News

Bloomberg is hearing reports that China Evergrande Group made overdue dollar bond interest payments and that sets the developer up to again avoid a default.  Customers of international clearing firm Clearstream received overdue interest payments on three dollar bonds issued by Evergrande, a spokesperson for Clearstream said. Two investors who hold two of the notes confirmed that they received the payments, asking not to be identified because they weren’t authorized to speak publicly. The embattled developer had to make the coupon payments totaling $148.1 million before the end of 30-day grace periods on Wednesday after missing initial deadlines last month. Its dollar notes remain at levels that reflect a high likelihood of an eventual restructuring but have edged up off record lows in recent weeks amid interest from distressed debt buyers. Stocks and bonds of property firms rose for a second day Thursday following a series of articles in state media signaling support measures are on the way that could help ease distress in the industry. Evergrande, the world’s most indebted developer, has been struggling to sell assets as it grapples with more than $300 billion in liabilities. Chinese authorities have grown increasingly intolerant of massive debt build-ups that threaten financial stability, and have urged founder Hui Ka Yan to help repay Evergrande’s obligations with his personal wealth.

The bonds that had the coupon payment grace periods ending Nov. 10 are: a 9.5% security due 2022, 10% note due 2023 and a 10.5% bond due 2024. NB: Please note they made the payment on the 2024 bond yielding 10.5% i urged you to buy. at 25 cents on the dollar..zoom Zoom ZOOM

China’s offshore bond market has been stung as a string of other real estate firms have also recently fallen into distress. The property market is cooling amid a government crackdown on speculation following years of debt-fueled expansion in the sector that accounts for about a quarter of economic output. The Federal Reserve warned this week that fragility in China’s commercial real-estate sector could spread to the U.S. if it deteriorates dramatically. Evergrande has so far managed to avoid defaulting on any publicly traded dollar bonds, after also pulling back from the brink in October by paying other coupons before the end of grace periods. But the crisis at Asia’s largest junk bond issuer is hardly over, and the contagion it sparked has even recently spread to other areas of the credit market. Authorities have sought to limit the fallout from the wider property market distress, with the central bank injecting liquidity into the financial system. Chinese developers’ bonds and stocks rallied Wednesday after the Securities Times said authorities are likely to loosen controls for the nation’s real estate companies to issue local-currency notes, part of efforts to prevent a further deterioration in their financing. But concerns persist. A string of defaults and downgrades in the property industry in recent weeks pushed yields on junk dollar bonds from Chinese issuers to the highest in at least a decade over 24%

LONDON/MILAN (Reuters) – Europe has become the epicentre of the pandemic again, prompting some governments to consider re-imposing unpopular lockdowns in the run-up to Christmas and stirring debate over whether vaccines alone are enough to tame COVID-19.

Europe accounts for more than half of the average 7-day infections globally and about half of latest deaths, according to a Reuters tally, the highest levels since April last year when the virus first swept into Italy.

The fresh tumult comes as successful inoculation campaigns have plateaued ahead of the winter months and flu season. About 65% of the population of the European Economic Area (EEA) – which includes the European Union, Iceland, Liechtenstein and Norway – have received two doses, according to EU data, but the pace has slowed in recent months. Take-up in southern European countries is around 80%, but hesitancy has hampered rollout in central and eastern Europe and Russia, leading to outbreaks that could overwhelm healthcare. Germany, France and the Netherlands are also experiencing a surge in infections, showing the challenge even for governments with high acceptance rates and dashing hopes vaccines would mean a return to close to normal. To be sure, hospitalisations and deaths are much lower than a year ago and big variations by country in use of vaccines and boosters as well as measures like social distancing make it hard to draw conclusions for the whole region. But a combination of low vaccine uptake in some parts, waning immunity among those inoculated early and complacency about masks and distancing as governments relaxed curbs over the summer are likely to blame, virologists and public health experts told Reuters. “If there’s one thing to learn from this it’s not to take your eye off the ball,” said Lawrence Young, a virologist at the UK’s Warwick Medical School.

The World Health Organization’s latest report for the week to Nov. 7 showed that Europe, including Russia, was the only region to record a rise in cases, up 7%, while other areas reported declines or stable trends. Similarly, it reported a 10% increase in deaths, while other regions reported declines.

Thanksgiving air travel is on track to exceed pre-pandemic levels, signaling a busy holiday season for airlines, according to a new analysis. Bookings for Thanksgiving flights are up 78 percent from last year and 3.2 percent from 2019, according to data from Adobe Digital Insights, which tracked online reservations at major airlines through Nov. 7. “After a year where many were unable to see their friends and families for Thanksgiving, we are expecting busy airports this month,” said Vivek Pandya, lead analyst at Adobe Digital Insights. “The holiday uptick is also driving up prices online, and consumers should start thinking about Christmas travel pretty soon.” The analysis found that September and October bookings were 13 and 10 percent lower than pre-pandemic levels, respectively. But air travel has rebounded in recent weeks as COVID-19 cases decline. The surge of travelers will present a key test for airlines and airports, which have struggled with delays and cancellations this year amid workforce shortages and technical issues. Multiple airlines have cut down on their November schedule to reduce disruptions. Airlines are also expecting an influx of international travelers after the U.S. lifted its 18-month ban on international flights to the U.S. on Monday. Fully vaccinated international travelers can fly to the U.S. as long as they show proof of vaccination and a recent negative COVID-19 test. NN: Just as peoples vaccines are waning and as the newest mutation is staring shut downs in Europe…. YOUR leaders have decided in their infinite wisdom to open things up. Talk about open wide for chunky. OMG 100 million people are traveling by car and plane to super spreader events to eat a hormone antibiotic pumped sickly bird. And to make matters worse the flying incubators are coming with plane loads of infected people from Europe. I can tell you i don’t  like people nor turkey that much to risk my life.. Call me stupid! I think i will sit this one out……. You are in the catbird seat… In two months you will find out if i am full of shit our not. The 4th wave is a guaranteed event. Call me paranoid i believe their is a deadly plague circulating around the planet killing millions of people………..

Vermont reports higher than ever COVID-19 case rates, state health officials have been trying to understand why. How can a state that did so well during the first part of the pandemic — even garnering national recognition — be doing so much worse now? “There is not one simple answer,” said Vermont Health Commissioner Dr. Mark Levine during a news conference Tuesday. “But, there are clearly factors that have come together to create the situation that we’re in now.”mmmmSlowing the spread is critical right now to prevent Vermont’s hospitals from being overwhelmed with people sick with the virus, Levine said. He encouraged Vermonters to take the same preventative steps that have been preached throughout the pandemic: wearing masks, practicing physical distancing, staying home when sick and getting vaccinated.  “There’s not one single solution to stop it,” Levine said. “We do need to live with it, taking the simple and common sense actions for protecting one another as much as we can.” Positive cases have been climbing in Vermont in recent weeks despite the state’s having one of the highest vaccination rates against the virus in the U.S. Cases rose last year around this time as well as people spent more time indoors, but the state still enjoyed one of the lowest case rates in the country then. Cases in Vermont have increased by about 55% over the last 14 days, according to a modeling report by Financial Regulation Commissioner Mike Pieciak. Some recent days have seen daily cases spike above 400 — the highest Vermont has seen since the beginning of the pandemic.

 VT mask mandate not coming back as Gov. Scott won’t reimpose state of emergency

Over the past week, Vermont had the 12th highest rate of new cases in U.S., according to Pieciak’s report. Unvaccinated Vermonters are still the people getting sick and being hospitalized at the highest rates. Infection rates among people in their 20s and children have also contributed to the most recent surge, Levine said. The highly contagious delta variant is still one of the main factors affecting cases in Vermont, as it has been for most of the year, Levine said. The variant has even been able to spread among vaccinated people. “An infected person can spread the virus to five people or more, far faster than the original strain,” Levine said. “This means it can spread faster than we can trace and alert contacts.” The state’s early success during the pandemic has also turned out to be one of the factors in its downfall this year, Levine said. There were fewer Vermonters who got sick early in the pandemic, but this also meant that fewer residents were able to build up any level of immunity from having the virus. that the state had reached its goal of vaccinating 80% of the eligible population. As a result Scott lifted all remaining COVID-19 restrictions that were imposed to deal with the pandemic. Studies estimate that 3% or less of Vermonters had any immunity to COVID-19 before the delta variant hit, Levine said. Vermont’s success in vaccinating its residents quickly, starting with the oldest Vermonters, means immunity among the highest-risk people in the state is likely waning now, Levine said. “As one of the oldest states, the percentage of Vermonters in this situation is higher than most other parts of the country,” Levine said. Finally, Vermonters are also traveling more and hosting visitors, often taking part in indoor activities, more frequently than they would have at this time last year. They are also wearing masks less often. These behavioral changes have also contributed to the current situation, Levine said. “I know for many of us it can be frustrating to see Vermont looking so different from how we once did during the pandemic, but even after all this time, the virus is not something we have absolute control over,” Levine said. NN: They got vaccinated early and their immunity is waning… Thats the answer. Test your antibodies and get booster shots as necessary…..

TORONTO (Reuters) – Canada’s coronavirus epicenters are shifting from dense urban zones to more rural or remote areas that have lower vaccination rates and fewer public health resources. Some of those areas were spared in earlier waves of the pandemic and are now forced to contend with a widely spreading virulent strain of the coronavirus with fewer options at their disposal to deal with the surge. Canada has high overall vaccination rates but pockets of hesitancy allow the virus to spread. In Ontario, Canada’s most-populous province, the Sudbury health region about 250 miles (400 km) north of Toronto has tightened restrictions. Officials have brought back capacity limits in public spaces, requiring residents to mask and provide proof of vaccination. Its COVID-19 recent case rate, at 164.7 per 100,000 as of Monday, is by far the highest in the province. It has also seen positivity rates, the percentage of people tested for COVID-19 who test positive, spike to 4.43% as of Oct. 24. The provincial average that week was 1.56%. “Less dense, less urban areas were relatively spared in this pandemic but … I think we’re starting to see the non-urban wave of COVID starting,” said Zain Chagla, an infectious diseases physician at St. Joseph’s Healthcare in Hamilton, Ontario. Greater Sudbury has more than 160,000 people but less hospital capacity than the Toronto area.”What’s particularly worrisome is the number of cases and the rapid rise of cases combined with the fact that we’re seeing cases kind of all over,” including about a quarter with no identified source, said Penny Sutcliffe, medical officer of health for Public Health Sudbury and Districts. On Wednesday, Ontario paused plans to raise capacity limits at sites such as sex clubs “out of an abundance of caution.” Sutcliffe said the increased transmission in her region could be linked to both an easing of restrictions and widespread COVID-19 fatigue: “We’re all tired of the pandemic and tired of having to take precautions.” It is a fatigue felt elsewhere. Yukon declared a state of emergency this week after announcing 80 COVID-19 cases in three days, bringing the total active cases to 169 in the territory of 43,000 people. About 22.1% of Yukon’s population is indigenous, compared with the national average of about 5%. In Saskatchewan, the province’s far northwest region, which is home to multiple First Nations communities, had the highest COVID-19 infection rates this week. It also had the lowest vaccination rate as a percentage of the total population, government data showed. In Alberta, the province’s relatively rural northern region that includes the oil sands hub of Fort McMurray had the highest hospitalization rate and the highest case rate as of early November. This past summer, the Delta variant ran through crowded oil sands housing and a young population that did not see itself at risk of COVID-19, said Fort McMurray family doctor Raman Kumar. “There’s more a sense of rugged individualism where people don’t necessarily rely as much on the government.” Now, he said, he and his colleagues are tackling the “Three Cs” of vaccine hesitancy: quashing complacency and conspiracies and maximizing convenience.  “If someone comes in for a prescription refill, it’s always a really good opportunity to mention to someone: ‘Hey, did you get your vaccine?'” NN: The new strain has made it to the Americas…..

AMSTERDAM (Reuters) – The main Dutch pandemic expert advisory panel recommended on Thursday imposing Western Europe’s first partial lockdown since the summer, putting pressure on the government to take drastic and unpopular action to fight a COVID-19 surge. Caretaker Prime Minister Mark Rutte’s government is expected to take a decision on Friday on new measures following the recommendation of the Outbreak Management Team, a panel of experts, broadcaster NOS reported. Among measures under consideration were the cancellation of events, closing theatres and cinemas, and earlier closing times for cafes and restaurants, the NOS report said. Schools would remain open. The government often, but not always, follows the panel’s recommendations. Lockdown has been considered unthinkable in many developed countries since vaccines were widely rolled out, even as infections have spiked to records. Countries such as Britain are relying on vaccine booster shots to increase immunity and avoid overwhelming their healthcare systems over the winter. The Netherlands has so far provided booster shots only to a small group of people with weak immune systems. Despite an adult vaccinate rate nearing 85%, hospitals in parts of the Netherlands have been forced to scale back regular care to treat coronavirus patients. Last week, the Netherlands re-introduced masks and expanded the list of venues that require a so-called “corona pass”, which demonstrates vaccination or a negative test result, to gain access. The Netherlands’ Institute for Health (RIVM) on Tuesday reported weekly cases were up 45% to 76,790, or more than 400 per 100,000 inhabitants.

Germany sees more than 50,000 daily new cases for first time; some hospitals in Slovakia limit non-urgent care

Germany recorded a record number of new Covid-19 infections on Thursday with 50,196 additional cases in 24 hours, a sign of the violence of the epidemic wave that is hitting the country, according to the Robert Koch health watch institute. This is the first time that the threshold of 50,000 new daily cases has been crossed since the start of the pandemic while Germany has chained record numbers of infections in recent days. The number of deaths in 24 hours rose to 235 on Thursday. Pressure is also increasing on hospital care units. This outbreak is attributed in particular to the relatively low vaccination rate of the population in Germany, just over 67%. Several particularly affected states, such as Saxony, Bavaria, and most recently Berlin, have introduced new restrictions targeting unvaccinated people who are the first affected by this rebound in the pandemic. Thus, as of Monday, Berlin will prohibit unvaccinated people from accessing, in particular, restaurants without a terrace, bars, sports halls and hairdressing salons. A negative test will no longer allow access to these public places if users are not vaccinated or cannot prove that they are cured of the disease.

Russia reports 40,759 new COVID cases, 1,237 deaths