SUNDAY 12/28/14; AirAsia Flight 8501 Goes Missing

AirAsia Flight 8501 goes missing en route from Indonesia to Singapore. The pilots had requested a flight path change due to severe storms before communications went dead. The pilot did not signal a mayday. 162 people are on board including seven flight crew and 16 children. Most passengers are Indonesian. The missing aircraft brings back memories of the doomed Malaysian Airlines Flight 370 airplane that has never been located and remains a mystery to this day. The Flight 8501 airplane is a reliable workhorse Airbus A320. AirAsia is a low-cost carrier serving southeast Asia. The plane is believed to be down in the Java Sea. At 7 AM EST (7 PM local time Jakarta, Indonesia), the air search and rescue is called off due to the weather and darkness but will quickly resume on Monday morning at daybreak. There is no debris field as yet.

In Greece, a ferry boat is on fire with 500 people aboard. Rescue ships are 

















[Text is Redacted: Purchase December 2014-12 to Read the Complete Chronology]
















Euro 1.2176. Pound 1.5553. Aussie dollar 0.8113.

US Treasury yields are; 2-year 0.74%, 5-year 1.75%, 10-year 2.24%, 30-year 2.81%. The 2-10 spread is 150 bips.