Good afternoon, welcome to election day november 3rd, regular meeting of the board of supervisors. Madam clerk, can you call the roll. Clerk thank you, mr. President. [roll call] clerk mr. President , all members are present. President yee ok. Thank you. Please place your righthand on your heart. Would you please join me in the pledge of of allegiance. I pledge allegiance to the flag of the United States of america and to the republic for which it stands one nation, under god, indivisible, with liberty and justice for all. I would like to acknowledge the staff of sfg. Are there any communications . Clerk yes, during the covid19 health emergency, the board recognizes that Public Access to City Services is essential and certainly more acute during this time so we hope members of the public will take advantage of the following opportunities. We have a short version today. Were happy to receive your written communication and sports hands if you are using the u. S. Mail address the envelope
When we reach the item youre interested in, press star 3 to be added to the queue. Each speaker will be allowed up to three minutes. When you have 30 seconds remaining, you will hear a chime indicating your time is almost up. I will announce that cure time is up to take next person to speak. Speak clearly and slowly and please mute the volume on your television or computer. I like to take roll at this time. [roll call] first touch is consideration of items proposed for continuance. 1760 ocean avenue, conditional use authorization proposed for continuance december 3, 2020. Item 2, continuance december 17th 2020, item 3, 1600 ocean avenue, conditional use authorization has been withdrawn. Im pleased to announce to you that under your discretionary review calendar, item 12, 811 valencia street, the discretionary review has been withdrawn. I have no other items proposed for continuance. We should take Public Comment on the matters proposed for continuance or that have been withdrawn. Membe
The single currency crosses the key level for the first time in two years. Philip lane says it matters for monetary policy. Andy Swift Financial regulators and the swiss financial of creditart suisse over spying on former employees. Let us get some breaking news for you. Front, u. K. Housing august house prices rising by 3. 7 year on year. This is according to nationwide. 2 on the increase of month. The month on month figure is 2 . The year on year figure is 3. 7 . Very strong numbers follow other measures of stress. We have a right move for july. Know the reason behind all of this. There was pentup demand because of a lockdown. There was a tax incentive put in place. And perhaps a little bit of incentive to move to quiet, rural locations. All of that lifting housing demand. Solid numbers nationwide this morning. Lets get to the broader picture around markets, have a look at futures. For European Equity markets, fairly flat. If you excuse exclude the ftse. The futures picture giving us
With you great to see at least your picture here and hear your voice. I want to start with the markets in general and warren buffets comments his comments appeared to go against popular wisdom i think in how to manage investments he sold airlines low, didnt buy anything during the historic selloff i wonder what you think from a Research Perspective how investors playing at home should what they should take away from that after having one of the worst months ever in march april has ended with one of the strongest rallies in about 30 years across a number of benchmarks the s p 500, the nasdaq, and u. S. High grade. So i think that you should expect some consolidation this month. Now there is just so much liquidity in the system. We estimate the Central Bank Balance sheets will expand 17 this year. You dont bet against that we still think you should be, you know, constructive, but consolidation is in order. The markets responded the fastest, the virus and the economy last and the data pri
Ont that we had crude down the day. A little bit of a disconnect, scarlet. Scarlet that is a good point. Energy stocks up 10 on the day. The next best performing group is financials. If you look at it on a five day basis for the week, energy and financials are among the laggards here. Forget what happened in the first quarter. Forget what they are saying about the Second Quarter. End, i wonder what that really tells us about. Again, i think that what we are dealing with here, and what i was trying to say when the bell rang, we are dealing with the cash flow issue. It comes down to how long the economy is in suspended emanation. If this is a short but deep recession, things will come back online towards the end of the year. Programsus stimulus will help keep consumers and businesses afloat so they can get back up and running relatively quickly. But the risk is that we deal with multiple waves of infections or a downturn that lasts longer than we are expecting. Romaine i want to bring ou