US sells 10 year notes at a high yield of 2.18%

$20 B auctioned. Bid to cover of 2.28x The US auctioned off $20B of 9 year 11 month notes at a high yield of 2.18%. That was above the WI rate of around 2.17%.So, the results show, the dealers own them. They did get a concession up to 2.18% and with the yield trading at 2.1743%

$20 B auctioned. Bid to cover of 2.28x The US auctioned off $20B of 9 year 11 month notes at a high yield of 2.18%. That was above the WI rate of around 2.17%.So, the results show, the dealers own them. They did get a concession up to 2.18% and with the yield trading at 2.1743%

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JBS: Company Sells Moy Park To Pilgrim's Pride For 790 Million Pounds

JBS: Company Sells Moy Park To Pilgrim's Pride For 790 Million Pounds Brazilian meat packer JBS reached an agreement to sell its stake in Moy Park to Pilgrim's Pride Corporation for about 790 million pounds. Moy Park was valued at 1 billion pounds (US$ 1.3 billion).
The transaction was unanimously approved by a special committee of Pilgrim's board of directors and JBS board. According to the Brazilian company, the proceeds from the operation will be used to amortize short-term debt in Brazil, improving its debt profile and liquidity.
JBS, which is Pilgrim's largest shareholder, said the divestment would allow it to maintain sound financial performance with diversified assets in line with its intent to open the capital of one of its subsidiaries in the United States.
The Brazilian company further stated that the transaction would create a more efficient corporate structure and that “Pilgrim's leadership is poised to extract even more value from Moy Par..

JBS: Company Sells Moy Park To Pilgrim's Pride For 790 Million Pounds

jbs: company sells moy park to pilgrim's pride for 790 million pounds

Brazilian meat packer JBS reached an agreement to sell its stake in Moy Park to Pilgrim's Pride Corporation for about 790 million pounds. Moy Park was valued at 1 billion pounds (US$ 1.3 billion).

The transaction was unanimously approved by a special committee of Pilgrim's board of directors and JBS board. According to the Brazilian company, the proceeds from the operation will be used to amortize short-term debt in Brazil, improving its debt profile and liquidity.

JBS, which is Pilgrim's largest shareholder, said the divestment would allow it to maintain sound financial performance with diversified assets in line with its intent to open the capital of one of its subsidiaries in the United States.

The Brazilian company further stated that the transaction would create a more efficient corporate structure and that "Pilgrim's leadership is poised to extract even more value from Moy Park, given its successful track record of integrating Tyson de Mexico and GNP assets, as well as the strong performance of their existing assets. "

Since J&F (JBS parent company) executives have concluded a plea-bargain deal with Brazilian authorities, revealing involvement in many corruption cases, the company has been seeking to wipe out operations and sell assets such as JBS units in Mercosur, Alpargatas, and Eldorado. However, the plea-bargain deal can be reviewed by the Brazilian Justice after the disclosure of new recordings suggesting information omission by the company's executives.

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ZF sells Body Control Systems division to China’s Luxshare

FRANKFURT — German auto supplier ZF said on Wednesday it has sold its Body Control Systems division to China's Luxshare as it reshapes its portfolio of technologies for a new era of self-driving and electric cars.
ZF struck an alliance with French car parts supplier Faurecia in May to develop interior and safety technologies for autonomous cars, reducing the need for ZF to keep its own Body Control Systems division.
ZF, which makes automatic gearboxes, and Luxshare declined to say how much the deal was worth.
CEO Stefan Sommer said last December that ZF had launched the sale of the Body Control Systems division and said it “would not be a complete shot in the dark” when asked whether the company wanted $1 billion for the unit.
A person familiar with the transaction said however that the division sold for less than $1 billion.
The unit makes electronic parts for dashboards including switches, heating and air conditioning controls and displays, integrated electronic centre pan..

FRANKFURT — German auto supplier ZF said on Wednesday it has sold its Body Control Systems division to China's Luxshare as it reshapes its portfolio of technologies for a new era of self-driving and electric cars.

ZF struck an alliance with French car parts supplier Faurecia in May to develop interior and safety technologies for autonomous cars, reducing the need for ZF to keep its own Body Control Systems division.

ZF, which makes automatic gearboxes, and Luxshare declined to say how much the deal was worth.

CEO Stefan Sommer said last December that ZF had launched the sale of the Body Control Systems division and said it "would not be a complete shot in the dark" when asked whether the company wanted $1 billion for the unit.

A person familiar with the transaction said however that the division sold for less than $1 billion.

The unit makes electronic parts for dashboards including switches, heating and air conditioning controls and displays, integrated electronic centre panels and modular steering column controls.

Luxshare Precision Industry Co., headquartered in Dongguan, China, makes cables and cable connectors for computers as well as communications and consumer electronics for automobiles and medical technology.

ZF, an unlisted supplier based in Friedrichshafen, a town on the shores of Lake Constance, wants to cut its dependence on combustion-engined cars, and has sought to shed non-core assets to help build up its expertise in components for autonomous and electric vehicles.

Earlier this month, ZF said it is able to consider large acquisitions in the wake of its $13.5 billion euro takeover of TRW in 2015.

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US sells 5-year TIPS at +0.117%

Inflation protected bonds auction – Prior was -0.049% – Bid to cover at 2.41 vs 2.52 It's a reopening on a four-year, 8-month note. The market is utterly convinced that the Fed isn't going to get 2% inflation any time soon.

Inflation protected bonds auction – Prior was -0.049% – Bid to cover at 2.41 vs 2.52 It's a reopening on a four-year, 8-month note. The market is utterly convinced that the Fed isn't going to get 2% inflation any time soon.

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“Le Mans” Gulf Porsche 917K Sells For Record 14 Million At Gooding & Co Pebble Beach Sale

When looking back on the history of 917-024, you'll see that this was the first 917 to ever enter competition in 1968, and that this car was used in the McQueen movie “Le Mans”. Those two milestones alone make this car potentially the most valuable vintage Porsche racing car in history. Adding to this chassis' achievements, this weekend it sold for a whopping $14,080,000 in the Gooding & Company auction just up the street from the famed Pebble Beach Concours.
This car was advertised for sale by Gooding & Co. back in 2014 for the Pebble Beach auction as well, but it was pulled from the bidding block before the auction began. I researched the car's entire history back then, and you can read much more about it by clicking here.
This video is a pre-auction promotional piece for the car. It's worth watching if only for the sound of the car's flat 12 engine. Simply spectacular.
If you're so inclined, you can watch the full auction with the YouTube link above…

When looking back on the history of 917-024, you'll see that this was the first 917 to ever enter competition in 1968, and that this car was used in the McQueen movie "Le Mans". Those two milestones alone make this car potentially the most valuable vintage Porsche racing car in history. Adding to this chassis' achievements, this weekend it sold for a whopping $14,080,000 in the Gooding & Company auction just up the street from the famed Pebble Beach Concours.

This car was advertised for sale by Gooding & Co. back in 2014 for the Pebble Beach auction as well, but it was pulled from the bidding block before the auction began. I researched the car's entire history back then, and you can read much more about it by clicking here.

This video is a pre-auction promotional piece for the car. It's worth watching if only for the sound of the car's flat 12 engine. Simply spectacular.

If you're so inclined, you can watch the full auction with the YouTube link above. There are plenty of excellent Porsche lots and so much more selling for your entertainment. The bidding for 917-024 begins at the 3:06:32 mark of the video, and is immediately heated. The numbers start rolling quickly with millions on millions stacked up. Each subsequent bit achieves an excited gasp and applause from the gathered crowd. Things don't begin to settle down until after the 12 million dollar mark, which is already a world record price. It's crazy to see how the 1% lives, eh?

source

“Le Mans” Gulf Porsche 917K Sells For Record 14 Million At Gooding & Co Pebble Beach Sale

When looking back on the history of 917-024, you'll see that this was the first 917 to ever enter competition in 1968, and that this car was used in the McQueen movie “Le Mans”. Those two milestones alone make this car potentially the most valuable vintage Porsche racing car in history. Adding to this chassis' achievements, this weekend it sold for a whopping $14,080,000 in the Gooding & Company auction just up the street from the famed Pebble Beach Concours.
This car was advertised for sale by Gooding & Co. back in 2014 for the Pebble Beach auction as well, but it was pulled from the bidding block before the auction began. I researched the car's entire history back then, and you can read much more about it by clicking here.
This video is a pre-auction promotional piece for the car. It's worth watching if only for the sound of the car's flat 12 engine. Simply spectacular.
If you're so inclined, you can watch the full auction with the YouTube link above…

When looking back on the history of 917-024, you'll see that this was the first 917 to ever enter competition in 1968, and that this car was used in the McQueen movie "Le Mans". Those two milestones alone make this car potentially the most valuable vintage Porsche racing car in history. Adding to this chassis' achievements, this weekend it sold for a whopping $14,080,000 in the Gooding & Company auction just up the street from the famed Pebble Beach Concours.

This car was advertised for sale by Gooding & Co. back in 2014 for the Pebble Beach auction as well, but it was pulled from the bidding block before the auction began. I researched the car's entire history back then, and you can read much more about it by clicking here.

This video is a pre-auction promotional piece for the car. It's worth watching if only for the sound of the car's flat 12 engine. Simply spectacular.

If you're so inclined, you can watch the full auction with the YouTube link above. There are plenty of excellent Porsche lots and so much more selling for your entertainment. The bidding for 917-024 begins at the 3:06:32 mark of the video, and is immediately heated. The numbers start rolling quickly with millions on millions stacked up. Each subsequent bit achieves an excited gasp and applause from the gathered crowd. Things don't begin to settle down until after the 12 million dollar mark, which is already a world record price. It's crazy to see how the 1% lives, eh?

source

“Le Mans” Gulf Porsche 917K Sells For Record 14 Million At Gooding & Co Pebble Beach Sale

When looking back on the history of 917-024, you'll see that this was the first 917 to ever enter competition in 1968, and that this car was used in the McQueen movie “Le Mans”. Those two milestones alone make this car potentially the most valuable vintage Porsche racing car in history. Adding to this chassis' achievements, this weekend it sold for a whopping $14,080,000 in the Gooding & Company auction just up the street from the famed Pebble Beach Concours.
This car was advertised for sale by Gooding & Co. back in 2014 for the Pebble Beach auction as well, but it was pulled from the bidding block before the auction began. I researched the car's entire history back then, and you can read much more about it by clicking here.
This video is a pre-auction promotional piece for the car. It's worth watching if only for the sound of the car's flat 12 engine. Simply spectacular.
If you're so inclined, you can watch the full auction with the YouTube link above…

When looking back on the history of 917-024, you'll see that this was the first 917 to ever enter competition in 1968, and that this car was used in the McQueen movie "Le Mans". Those two milestones alone make this car potentially the most valuable vintage Porsche racing car in history. Adding to this chassis' achievements, this weekend it sold for a whopping $14,080,000 in the Gooding & Company auction just up the street from the famed Pebble Beach Concours.

This car was advertised for sale by Gooding & Co. back in 2014 for the Pebble Beach auction as well, but it was pulled from the bidding block before the auction began. I researched the car's entire history back then, and you can read much more about it by clicking here.

This video is a pre-auction promotional piece for the car. It's worth watching if only for the sound of the car's flat 12 engine. Simply spectacular.

If you're so inclined, you can watch the full auction with the YouTube link above. There are plenty of excellent Porsche lots and so much more selling for your entertainment. The bidding for 917-024 begins at the 3:06:32 mark of the video, and is immediately heated. The numbers start rolling quickly with millions on millions stacked up. Each subsequent bit achieves an excited gasp and applause from the gathered crowd. Things don't begin to settle down until after the 12 million dollar mark, which is already a world record price. It's crazy to see how the 1% lives, eh?

source

“Le Mans” Gulf Porsche 917K Sells For Record 14 Million At Gooding & Co Pebble Beach Sale

When looking back on the history of 917-024, you'll see that this was the first 917 to ever enter competition in 1968, and that this car was used in the McQueen movie “Le Mans”. Those two milestones alone make this car potentially the most valuable vintage Porsche racing car in history. Adding to this chassis' achievements, this weekend it sold for a whopping $14,080,000 in the Gooding & Company auction just up the street from the famed Pebble Beach Concours.
This car was advertised for sale by Gooding & Co. back in 2014 for the Pebble Beach auction as well, but it was pulled from the bidding block before the auction began. I researched the car's entire history back then, and you can read much more about it by clicking here.
This video is a pre-auction promotional piece for the car. It's worth watching if only for the sound of the car's flat 12 engine. Simply spectacular.
If you're so inclined, you can watch the full auction with the YouTube link above…

When looking back on the history of 917-024, you'll see that this was the first 917 to ever enter competition in 1968, and that this car was used in the McQueen movie "Le Mans". Those two milestones alone make this car potentially the most valuable vintage Porsche racing car in history. Adding to this chassis' achievements, this weekend it sold for a whopping $14,080,000 in the Gooding & Company auction just up the street from the famed Pebble Beach Concours.

This car was advertised for sale by Gooding & Co. back in 2014 for the Pebble Beach auction as well, but it was pulled from the bidding block before the auction began. I researched the car's entire history back then, and you can read much more about it by clicking here.

This video is a pre-auction promotional piece for the car. It's worth watching if only for the sound of the car's flat 12 engine. Simply spectacular.

If you're so inclined, you can watch the full auction with the YouTube link above. There are plenty of excellent Porsche lots and so much more selling for your entertainment. The bidding for 917-024 begins at the 3:06:32 mark of the video, and is immediately heated. The numbers start rolling quickly with millions on millions stacked up. Each subsequent bit achieves an excited gasp and applause from the gathered crowd. Things don't begin to settle down until after the 12 million dollar mark, which is already a world record price. It's crazy to see how the 1% lives, eh?

source