Trace Mayer - Host of the ( Bitcoin Knowledge Podcast) where the top people in Bitcoin are interviewed Tamas Blummer aka grau - author of Bits of Proof, the enterprise-ready implementation of the Bitcoin protocol. Stefan Thomas aka justmoon- creator of the ( We Use Coins) site/video and WebCoin. Pieter Wuille aka sipa- Satoshi client developer and maintainer of the network graphs Involved with Bitcoin related startup Coinkite and DarkWallet. Patrick Strateman aka phantomcircuit - Bitcoin developer, creator of Intersango, member of Bitcoin Consultancy and creator of Python Bitcoin implementation. Patrick McFarland aka Diablo-D3 - DiabloMiner author, and former BitcoinTalk forum moderator. Nils Schneider aka tcatm - Bitcoin developer, owner of BitcoinWatch, creator and owner of BitcoinCharts, GPU mining software and JS web interface. Mike Hearn ( Profile) Google engineer who works on Gmail and developed BitCoinJ ( ) and Lighthouse. Michael Hendrix aka mndrix- creator of the now defunct CoinPal and CoinCard services Matt Corallo aka BlueMatt- Satoshi client and Bitcoinj developer. Martti Malmi aka Sirius- Former Bitcoin developer. Mark Karpeles ( Wikipedia) aka MagicalTux- Former owner of MtGox and this wiki. Luke Dashjr aka Luke-Jr- Eligius founder, maintains BFGMiner and maintainer of bitcoind/ Bitcoin-Qt stable branches. Jeff Garzik- Satoshi client core developer, GPU poold software and the founder of Bitcoin Watch. Jed McCaleb, cofounder of and original developer of MtGox. James McCarthy aka Nefario- creator of the first bitcoin stock exchange GLBSE First to identify a type of double-spending attack that now bears his name - the Finney attack. Hal Finney- one of the creators of PGP and one of the earliest contributors to the Bitcoin project. He previously worked at Silicon Graphics and now runs his own company. Gavin Andresen - ( Profile ) Former Satoshi client maintainer. Working on various Bitcoin based businesses. Gary Rowe ( Profile ) - Contributor to the MultiBit ( ) and BitCoinJ ( ) projects. A short list of active contributors to Bitcoin, ordered by first name.Īndreas Schildbach ( Profile) - original developer of Bitcoin Wallet for Android ( Google Code Project).Īmir Taaki ( Wikipedia) aka genjix- creator of the BIP process, Libbitcoin C++ developer toolkit, Obelisk blockchain server (later BS), SX bitcoin command line tool (later BX), Darkwallet, Darkmarket (later OpenBazaar), Darkleaks, Freecoin and well as inactive/defunct projects such as the Britcoin exchange, Intersango exchange, Spesmilo RPC client, Bitcoin Consultancy, Bitcoin Media Blog (author), Vibanko web wallet provider, GLBSE exchange client, Kartludox Bitcoin poker client, Pastecoin and Python bindings for Bitcoin.Īrt Forz- developed the first fully-deployed and actively-used GPU miner (Lazslo's was theoretically the first but it's not clear he solved any blocks with it) and at one time his GPU mining farm (the ArtFarm) was mining over a third of all blocks.
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The story unfolds and leaves us with plot twist that Ray finally sleeps with Komal (a friend of Riya who he always has words exchange with) and she being clingy enough to let Ray's parents know of this. On the other hand Ray gets himself into difficult position with each girl he meets or wants to see future with. He often encourages Ray to talk to girls. Varun has proposed to a girl he met on a dating app and plans to marry. Riya is quite a social girl and is equally confused as Ray is but she is not awkward. He has a childhood friend named Riya with whom he vents out all his confusion and talks with no holding back. In office he gels with Varun and is always scolded by his boss Pushpa. He is only child of his parents and lives with them along with a maid named Umesh. In the process he always puts himself in awkward situations. He is always confused and talks something to himself and answers exactly opposite of what he thought. Following his inner voice, 'Wiz', Ray embarked on his journey to understand if he wants sex, love, or a relationship. Ray is a young adult navigating through his adulthood. The series premiered on Netflix on 18 March 2022. It stars Vihaan Samat, Dalai, Ankur Rathee, Rahul Bose and Suchitra Pillai in supporting roles. Produced by Farhan Akhtar, Ritesh Sidhwani, Zoya Akhtar and Reema Kagti under the banner of Excel Entertainment and Tiger Baby Films. Eternally Confused and Eager for Love is an Indian comedy-drama streaming television series created and directed by Rahul Nair. I have just bought a palette of oil colours, i’ve just drawn some reference points on a canvas and i’m just about to start my first portrait ( a random photograph from the internet ).I’ve been wanting to do this for many years, but i’ve never got around to it. I’d just like to give you a large ‘thank you’ for sharing your vast knowledge of oil painting. I am seriously thinking about buying the other one pretty soon, It is the best portrait demonstration I have ever seen, very good explanations and absolutely excellent teaching demonstration, I ‘did learn many things, so Thank you again, it will help me a lot in my future portraits painting. Many thanks again for your generosity, and the difference you are making in people’s lives.įirst of all a big Thank You for that excellent DVD, obviously I received today and I couldn’t wait to watch it. You are very kind to share your knowledge and gift with other artists! I have been reading all your blog posts and can’t remember when I have been more inspired to paint. It just amazed me how quickly they arrived! I ordered them just nine days ago, and I’m halfway around the world from you! I am so excited to study all the materials. I just received my two DVD’s and your wonderful book. Once the proposals start flowing in, create a shortlist of top. Browse top Portrait Painter talent on Upwork and invite them to your project. We’ll walk you through the process step by step. I demonstrate tips and tricks that are feasible for everyone from the beginner to the advanced portrait painter. You can hire a Portrait Painter near Chicago, IL on Upwork in four simple steps: Create a job post tailored to your Portrait Painter project scope. Guiding you through every step with simple strategy’s to avoid getting stuck in the multitude of problems I have seen repeated by students. Her pencil sketching and watercolour techniques were amazing, even though her lessoning ability to have a steady hand was, to me, evident.In these portrait painting tutorials I offer clear answers to key issues. Many fond memories I have of her teaching me, as a child of between five and eight years old. nursing, fire service, hair dressers, trams and dockyard scenes etc. Using pencil, pen and ink and also watercolour, she depicted the life and activities of ordinary people at their workplace i.e. She recorded some fascinating scenes from that era and time. In the second World War she became a red cross nurse. My mother, who died when I was 12 years old from multiple sclerosis, studied at the Harrogate School of Art during the 1940’s. My grandmother painted beautiful fruits and flowers, she was an accomplished seamstress too. Grandpa was an an accomplished architect, he also painted landscapes. Having a long history of artists in my family line, my mother’s parents painted in oils. My career as a Pet Portrait Artist started, painting Pet Portraits on my father’s Farm, at Cold Overton near Melton Mowbray, Leicestershire, after leaving Loughborough Art College in 1984. I studied life drawing, sculpture in clay, photography, plus 3d work that helped to direct me onto the path I am still on today. When A’levels were completed, I successfully applied and went to The Loughborough College of Art and Design. Pet Portrait Artist went to Loughborough College of Art and Design He was a well known artist in his own right with a large following of people locally in Rutland and beyond. He had previously been the art teacher at Oakham School, which is an independent school in Rutland. As a result of going there, I was fortunate enough to have an exceptional artist as my teacher, John Walton. The school was located in the small village of Morcott now in the county of Rutland. When I was ready for secondary school, I went to Morcott Hall School for Girls. Because of this it was discovered that I was quite an accurate pencil sketcher at this young age. Miss booth would collect flowers with us to bring them back and sketch in class. She was an accomplished painter of watercolours especially of wild flowers. Therefore, as a result, I remember going on nature walks, picking flowers with the head mistress Miss Booth. I was born in Harrogate in North Yorkshire and spent my primary years at a PNEU school at East Leake near Loughborough in Leicestershire. Pet Artist born in Harrogate, North Yorkshire & lived in Leicestershire. Ask if they can perform an exit interviewĮxit interviews offer valuable insights into what a former employee enjoyed about working for your company and their reasons for leaving suddenly. Here's a list of steps to help you navigate situations where an employee quits unexpectedly: 1. When an employee quits without notice, it's important that you adopt a few practices to ensure a smooth and positive transition in your workplace. Related: 16 Reasons Employees Leave Their Jobs What to do when an employee quits without notice If this happens, view it as a positive way to direct your hiring decisions and select candidates who thrive in your type of work environment. This could mean transitioning to a job that offers a more fast-paced or relaxed work environment that allows them to perform at their best. In certain situations, an employee may decide to quit without notice because they want a change in the type of work environment they partake in. Similarly, if you currently don't have internal promotions available at the time, this could make them decide to pursue other options. In these situations, an employee knows they're ready to challenge themselves professionally, and they understand that they can no longer do so in their current role. Sometimes, employees need a new challenge or a different job entirely to reignite their passion for a certain job field or industry. This might cause them to quit without notice so they can give themselves the time they need to take on a new opportunity. If an employee gets a job offer with another company that requires them to relocate to another area or even country, they likely need time to plan for these changes to ensure they adapt well. Receiving another opportunity that requires time to transition In this situation, the employee needs to put their health first and likely can't commit the same time and energy to work. Needing to address personal health needsĪn employee may need to quit unexpectedly if they find out they have a medical condition or if they receive a physical injury that requires extensive therapy treatments. If a spouse receives a last-minute job offer in a different area, an employee may also need to quit unexpectedly to support their partner in an exciting new opportunity. When an employee has a loved one who needs extensive care and attention, they may decide to quit without notice to respond to those needs. Here are some common examples of why employees quit without notice: Responding to a family commitment There are several reasons why employees quit without notice that do and don't relate to their job and the company they work for. Related: Employee Attrition: Understanding and Avoiding It Why do employees quit without notice? Either way, it may come as a surprise to you and your coworkers about the sudden change to the workplace. This usually means they don't put in a two weeks' notice, but in some situations, they might. Related: Q & A: What Is an Employee Turnover Rate? What does it mean for an employee to quit without notice?Īn employee who quits without notice refers to any situation where an employee suddenly resigns from their position. In this article, we define what it means when an employee quits without notice, review potential reasons that cause employees to quit without notice, list steps to take in these situations and provide a few helpful tips to reduce these types of employee situations. When an employee quits without notice, there are a variety of steps you can take to ensure your company takes on these challenges with a positive outlook.īy reviewing reasons for unexpected departures and how to react, you can make sure you reduce these situations and develop a set of practices to adjust your workplace if they do occur. As a manager or HR employee, you should prepare and anticipate to react to sudden changes to your company's employment needs. Kixeye Forum ( 05/31/16 ) - Command Center Level 10 ( Official ) - Level 10 CC Introduction Thread. I wanted to take this opportunity to introduce myself to you all. Its powerful rocket pods are a major threat to any ground unit unlucky enough to be caught in its sights. Kixeye Forum ( 12/23/15 ) : Command Center Level 9 ( Official ) - Level 9 Defense Platforms. Greetings Commanders My name is Fidget and Im the Executive Producer of War Commander. ( ).Ī powerful gunship built by the foremost Survivor scrappers, the Pathfinder circles the battlefield in search of fresh prey. The Pathfinder at Level 20 requires 1 minute of Repairs for approximately every 6,026 Damage it sustains.The Pathfinder at Level 10 requires 1 minute of Repairs for approximately every 5,595 Damage it sustains. War Commander 381 Role-Playing & Strategy 20,000+ users Available on Chrome Overview Reviews Support Related War Commander Trailer Overview Build a powerful army, show no.The Pathfinder at Level 1 requires 1 minute of Repairs for approximately every 5,208 Damage it sustains.The Pathfinder is a Direct Fire Weapon which requires a direct line of sight to its target.Command, attack, and defense bases with your units The War Commander is every part of this wiki is very incomplete and incorrect. War Commander takes place in the future where savagery has replaced civilization. War Commander developer fires four after allegations of racism Joe Osborne October 4, 2012, 5:30 PM Kixeye racism The 'hardcore' social game developer behind hits like War Commander has. The Player may NOT own or unlock more than the limit allows. War Commander has been in Open Beta since late 2011.The Pathfinder has a maximum Unlock Limit of 34.The Pathfinder is vulnerable to the following Status Effects :.The Pathfinder is immune to the following Status Effects :.This weapon can only target Aircraft and High Altitude Aircraft.The bullets produce a small Splash Radius.This rapid firing weapon fires a stream of bullets that deal Sustain Damage ( ). The Pathfinder's features an AA Machine Gun.AA Machine Gun - ( Aircraft (thru level 20 Talent) ):.This weapon can only fire at Ground targets Infantry, Vehicles, and Buildings.The Rockets produce a small Splash Radius.This weapon fires volleys of Rockets that deal Burst Damage ( ). The Pathfinder's primary weapon features a Rocket Launcher.Rocket Pods - ( Infantry, Vehicles, and Buildings ) :.The Pathfinder features two weapons that be used :. The Pathfinder is a Series I - Tungsten Line.IF listed number is AMBER in color, it is derived from estimated calculation, and may exibit error(s). To view TIMES for other levels hover mouse over the icon above. TIMES listed are for a Level 40 Airfield. Battle Pirates War Commander VEGA Conflict Mobile Games War Commander: Rogue Assault Rise of Firstborn Community Support Home Corporate About Us Careers Build a powerful army, show no mercy, and battle enemies for earth's last remaining resources in this massive real-time strategy game. Take your KIXEYE Community experience to the next level by becoming an expert forum-goer. * Estimated Required Tech Center Level.īuild & Repair Times For Pathfinder ( T ) Yellow indicates increase from previous level. To install this plugin, head to /ChromePlugin. Note : Showing Data from Non-Customized Unit These are the most recent topics and posts on War Commander Forum. Once 34 have been unlocked, no more can be unlocked beyond the hard cap. “Without the big 3: Nintendo, Sony and Microsoft KIXEYE has created an online experience that feels like a $50 game for free.Hard-Capped Units have an Initial Production Limit of 1 but allow for additional Limit Increases to be unlocked. “People from all over the world have used War Commander’s easy to operate system to raid, invade, harass and wage war." -Examiner “The new Live Battles will allow players to respond instantly to attacks on their base, as well as make things more tense for those who go on the offensive and invade others home ground.” – Inside Social Games "War Commander Live Battles let you lay the smackdown in real-time.” – “.represents a growing commitment by KIXEYE to replicate a console-style experience online.“ - Gamezebo Getting started with the game is quick and easy, and the quest system does a great job keeping you on track. Kixeye (stylized as KIXEYE, formerly known as Casual Collective) is a video. Stay up to date with the latest flash and mobile game news (both iPhone and Android), plus game screenshots, walkthroughs, trailers, humor, funny pictures, and everything else gamers like. “…War Commander is very inviting to newcomers of the genre. Puede descargar Pirate Commander y los mejores juegos de Steam con GameLoop. Build a powerful army, show no mercy, and battle enemies for earth's last remaining resources in this massive real-time strategy… Build a powerful army, show no mercy, and battle enemies for earth's last remaining resources in this massive real-time strategy game. Whenever an action is performed, every step is repeated from the beginning with the exception of the movement order list that is created first. The movement order list is, importantly, the only calculation that is preserved throughout the course of a turn. Example of distance calculation from Mia to various enemies: In that case, the distance is considered "undefined." All distances that are "undefined" are considered equal for the purpose of tiebreakers. This means that it is possible for there to be no path at all if B is on a tile that is unpathable for unit A. The distance includes the tile that B occupies. Untraversable tiles for unit A's movement type cannot be used in the path. When constructing these paths, forests are worth 2 tiles for infantry, while trenches are worth 3 tiles for cavalry. So when calculating distance from A to B, find the shortest path from A to B. When calculating distance in this guide, it is actually saying to calculate the shortest distance. This is because distance uses the movement type of the unit related to A and factors in terrain that may hinder that movement type. Distance calculation is a one-way calculation, meaning the distance from A to B is not necessarily the same as the distance from B to A. Between tiles in the same row, the one on the right always has priority.Ĭalculating distance is a function that is performed for various tiebreakers, which determines the distance from unit/tile A to unit/tile B. A tile that is in a higher row than another always has priority. Thus the highest priority tile is at the top right corner of the map.Īn easier way to visualize the priority relation between tiles is to remember the hierarchy of: Up > Right > Left > Down. Tile priority is numbered from lowest to highest starting from the bottom left corner tile of the map, going right, and wrapping back up each row. Tile priority is the final tiebreaker for all situations where the AI must choose between multiple tiles. If two reinforcements result from a kill trigger and a turn-based trigger, then the reinforcement resulting from the kill trigger will take precedence over the turn-based one for slot order. If two reinforcements result from two different kill triggers like in the previous example, then their slot order is respective to the slot order of their kill trigger targets. If they do not share the same trigger (for example, one reinforcement comes from killing a red mage, while another comes from killing a blue mage), then their slot order depends on their respective deploy mechanisms. If there are multiple reinforcements that would be deployed in the same turn, if they share same trigger (for example, two reinforcements that appear on Turn 2, or two reinforcements from killing Legion), then they will have a pre-determined arbitrary slot order based on the map. For instance, if there are 4 starting enemy units and a reinforcement appears on Turn 2, that reinforcement will be in the 5th slot. A unit that dies does not have its slot replaced reinforcements will always use the last unoccupied slot. Reinforcements will always have a later slot number than units currently deployed. If you want enemy slot order info for each map, visit the FEH Wiki and search the specific map for which you info. However, a general pattern is that Heroes have lower slot number than generic enemies in a given map. There is no way to tell their slot number at a glance, although in arena the enemy's deployment mirrors the player's. Higher slot number will give the unit more priority in being targeted by both allies and enemies, and also give it the edge in attack priority.Įnemies also have a slot order, based on the map. In the context of the tiebreaker, lower slot number will give units the edge in movement and assist priority. Slot order is numbered from lowest to highest going from left to right on your team. The only exception is for Offensive Movement Assists, where the tile on which the potential targets are standing are examined instead. Slot order is the final tiebreaker for most situations where the AI must choose between multiple units. Nissan only made one significant change for 2023, the addition of the Rock Creek version that gets a five-eighths-inch lift kit, meatier off-road tires and bead-lock style wheels. Revised for 2022, the Pathfinder rolls into the 2023 model year with minimal changes. Speaking of which, neither the Toyota Highlander nor the current Pathfinder offers exceptional third-row knee room or maximal cargo capacity. Honda just revamped its Pilot, and that vehicle grows considerably, which could be a factor for buyers chasing a roomier alternative-and Chevy’s Traverse has to be cross-shopped if you want the most spacious option. The Pathfinder is on the smaller end of the three-row crossover segment, particularly its third-row seating, and rivals like the Kia Telluride and Hyundai Palisade have refactored the feature versus value equation. (All prices include a $1,295 destination fee.) Nissan’s pricing structure for the Pathfinder makes the S or SV levels the most appealing, mainly because Nissan includes a great deal of safety tech at all levels. You could spend $51,165 for a four-wheel drive Platinum level, but we maintain there’s better value at the lower rung of the price ladder. The Rock Creek only comes with AWD and costs $44,115. Pathfinder S starts at $36,095, and SV models run $39,125 while the SL is $42,715 front-wheel drive is standard and adding all-wheel drive is $1,900. There are five grades of Pathfinder: S, SV, Rock Creek, SL and Platinum. The fifth generation Pathfinder aims to reverse that trend by mixing back in some chiseled lines and legitimate ruggedness, including the new-for-2023 Rock Creek model that features minor hardware updates and outdoorsy cosmetic flourishes. The trend culminated with the fourth generation 2013 model, a generic jellybean that sold well, but lost its core mojo. Launched in 1986 as a genuinely rugged competitor to the Toyota 4Runner and other body-on-frame SUVs, successive generations got softer and softer. Visit Us in McKinney TodayĬontact our dealership for complete details today on the 2022 Nissan Pathfinder.Nissan revised the long-running Pathfinder for 2022, which carries into 2023 with only minor changes. The ProPILOT package, offered on the second trim, adds a traffic sign reader and cruise control. The Nissan comes with a Safety Shield 360 package with automatic emergency braking, lane-keep assist, lane departure warning, and more. Nissan Pathfinder Safety at the Forefront The new transmission comes with an intelligent four-wheel drive with a dial controller that allows you to choose various driving modes for gravel, snow, sand, dirt, and more. In 2022, however, the Pathfinder's engine is linked to a new automatic transmission with nine speeds. The Nissan Pathfinder achieves a top-rated towing capacity of 6,000 pounds using the engine it carries over 2021. The base Nissan has dual USB ports for device charging, but you can get a third USB port and a household-style power outlet with the higher-end trims. The Platinum also has plush leather upholstery, heated and ventilated seats, and the option to get a panoramic moonroof. Another new touchscreen with a 12.3-inch display is standard with the Platinum and optional with the other trims. Starting with the second trim, you can also upgrade from an eight-inch infotainment system to a new interface with a nine-inch screen. Captain's chairs are offered if you get the next trim level and higher. The trim lineup starts with the S and progresses to the Platinum, with a wide range of standard and optional features in between. The 2022 Nissan Pathfinder family has four trims. 2022 Nissan Pathfinder Has Abundant Features Multiple drive modes help you conquer more formidable terrain of all kinds. A Bose sound system and new infotainment interfaces are other updates for the Pathfinder, including a 12.3-inch digital dashboard system that can be customized as you wish. The Nissan also adds trailer safety technology, including trailer sway control, for all trims.Īnother first is the latest option for captain's chairs to hold seven rather than eight. This year, the Nissan Pathfinder is even better equipped to tow your family and belongings with a 6,000-pound tow rating ranked as the best in its class. However, we can fill you in on the changes in the meantime. The 2022 Pathfinder is slated to arrive at our dealership in the summer. The new model year brings exciting new changes to the Pathfinder's design inside and out and its mechanical system. The popular Nissan Pathfinder gets a complete design overhaul for 2022. What's New for the 2022 Nissan Pathfinder? In order for these players to gain respect, they need to have a more significant impact on the community.įinally, what really puzzles me, is how athletes get upset when athletes say that millions of dollars won't be able to support him and his family, and that they need more. What kids learn from successful ballplayers like him is that “It’s okay for me to use illegal substances, because in the long run, it will pay off by earning me an enormous contract.” If Alex Rodriguez earns the same amount of money as it would take to feed the nation's poor for a year, he can’t cheat and take steroids. They may get leeway when it comes to their salaries, but the law should be overpowered by any amount of talent. These infamous players must grow up, and prove to America that they can be positive role models for kids on and off the field. Moreover, in my mind, if these athletes want to continue to be rewarded with the fame and fortune that is unfairly bestowed upon them, they must prove to the world that they are going to be positive role models for future athletes, and those who admire them. While I do understand that making it into the pros is not an easy thing to do, and that it takes a tremendous number of hours of hard work and dedication every day to earn a job in professional sports, these people do nothing more than entertain the general public. It's truly a pity that none of these true heroes are given the same recognition by society as athletes such as Brett Favre or Michael Jordan are given. People in the military leave their families at home to defend and protect the country knowing they may never return. While President Obama is hard at work reviving the economy, the unproven rookie in the MLB is earning way over that figure.įurthermore, police officers, firefighters, and doctors save lives while risking their own for a fraction of what sports stars make. Obviously, what these individuals must not be aware of is the most important man in our nation, the president, who makes critical decisions that affect the entire world every day, only makes $400,000 a year. However, some may argue that while teacher’s only provide service to a single classroom, superstar athletes are entertaining fans all around the world, enticing people with a feeling of relaxation and excitement. Election and voter protection organizations across Georgia have been preparing for moments like this, working to educate voters on what to do if they experience issues when voting.“I felt discouraged, but I knew I needed to reach out to someone for help and knew I could call Fair Fight and get help,” said Jones.Fair Fight, a national voting rights organization based in Georgia, has used grassroots campaigning since its founding to educate voters on the resources at their disposal each election season. However, as the election progresses, the impact of Georgia’s new voting laws continues to unfold. “They just kept telling me I would have to vote with a provisional ballot.”Georgia voters turned out in record numbers for the first week of early voting, casting their ballots in the two critical elections, the gubernatorial and Senate races. While most have been dismissed already, more challenges cropped up ahead of early voting.In most cases, voters like Jones don’t know why their status is being challenged in the first place, causing even more confusion.“The poll worker didn’t tell me why I was being challenged, even after calling someone else for assistance,” said Jones. Right-wing groups, spurred by baseless claims that the 2020 election was rife with voter fraud, have mounted thousands of organized challenges across the state, putting even more pressure on the election process for voters, poll workers and election officials. Under the state’s new Election Integrity Act, Georgia citizens can challenge a voter’s eligibility on the state’s voting rolls an unlimited number of times. “They said I had to complete a provisional ballot, but I wasn’t really comfortable doing that, so I didn’t get to cast my ballot that day. However, when she reached the check-in station at the polling site, she was informed that she would be unable to cast a regular ballot because her validity as a voter was challenged.“When I handed in my ID, the poll worker said I was being challenged,” said Jones. She was excited to cast her ballot for her chosen candidates in the gubernatorial and Senate races, Stacey Abrams and Senator Raphael Warnock. Jennifer Jones, a Morehouse School of Medicine PhD student, showed up to her precinct in Fulton county, Georgia, on the second day of early voting for the midterm elections. on March 1 reset the bar lower still with a 0.25% 2-year issue priced at 0.269%. 22 placed 0.25% 2-year notes at a 0.293% reoffer yield, holding the low-cost title for less than two weeks, until peer John Deere Capital Corp. The only five lower-rate pricings have all come since August 2020. That single-A offering included 0.373% 2-year notes, a rate that ranks among the lowest for 2-year corporate paper. 24 priced $8 billion of notes in five parts, backing the refinancing of a heavy debt load that it incurred to complete the parent's acquisition of listed subsidiary NTT Docomo in November 2020. Nippon Telegraph and Telephone Corp.'s NTT Finance Corp. Notably, the February new-issue yield average held well below the 2.70% level in February 2020.Īs well, issuers continue to lock in some of the lowest-ever costs for shorter-dated paper. Overall, the average yield at issuance for all high-grade pricings in February moved up to 2.10%, from the pandemic-era low at 1.71% in January, and averages near 1.80% over the last two months of 2020.ĭespite the higher absolute yield levels, roughly half of the dollar volume for February explicitly backed refinancing efforts, including a large proportion of proceeds earmarked to term out bond maturities due through 2023. The Apple bonds on March 5 traded at yields in the 3.15% area, or 50 bps above the coupon rate, trade data show. Showcasing the firm spread progressions, the spread for the new 30-year Apple bonds has held at the T+82 pricing level on the secondary market, despite the dollar price for the bonds plunging roughly 10 percentage points over the last month to reflect the sharp rise in Treasury 30-year bond yields. Apple's 30-year print last month came at a T+82 spread at pricing, substantially through the T+100 spread it paid for that lower-coupon 2050 bond it priced in August 2020 and the T+145 spread for the 30-year bonds it priced in May 2020. Squeaky-tight spread levels have helped limit the rise in absolute costs, indicating resilient risk tolerance up and down the credit-quality spectrum as recovery hopes temper the buffets from rate volatility. 13 last year (its lowest ever since it first entered the bond markets in 2013), but in line with a 2.65% 30-year bond it priced last May, in what was, at the time, its cheapest-ever long-term funding costs. The 2.65% coupon for Apple's new-issuer 30-year bond was above the 2.40% coupon it printed on Aug. ($5 billion).įor serial issuers in the pandemic era, costs in February remained well below the high coupons demanded by investors in the early weeks of the crisis last March, but were generally up palatable amounts from their best pricing executions over the subsequent quarters. ($5.5 billion) and Alibaba Group Holding Ltd. The opening sessions of February saw a profusion of blockbuster, curve-spanning bond placements, including from Apple Inc. That yield slope has steepened from 152 bps at the start of the year, and it was just 109 bps at the start of August 2020, when scores of top-tier borrowers swarmed the primary market to lock in their lowest-ever rates against that flatter curve. The differential between 2- and 30-year yields swelled from 173 basis points on Feb. Quickening vaccine deliveries in recent weeks have stoked economic recovery hopes, while simultaneously heightening the risk that the lid will finally come off long-contained inflation, the Achilles heel of bonds. The strong issuance came against the backdrop of an underlying yield curve in flux. It bumps the $103.4 billion total for February 2016 into third place. The 2021 total falls just shy of the record for a February period, or the $109 billion tally in 2015. Issuance for the first two months of 2021 ran 9.4% ahead of last year's pre-pandemic pace. That marks a material increase from the roughly $82.3 billion priced in February last year, reflecting a sharp downturn in issuance volume over the back half of that month, as COVID-19 concerns began to creep into the credit markets. High-grade issuance - when excluding sovereign/agency/supranational (SAS) and hybrid debt/equity offerings from the count - totaled $106.7 billion for February, according to LCD. High-profile issuers pounced on low borrowing costs at the start of the month and then a harrowing lurch higher in underlying Treasury yields over the balance of February spurred a broader sense of urgency to lock in rates, a trend that has precipitated torrential issuance volume in early March as well. high-grade issuance volume topped $100 billion in February, for just the third time on record for the month, further bolstering the unprecedented amount of borrowing in the pandemic era, according to LCD. |
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