U. S. Trading session. We have a third up session . Julie hyman has the answers. Do, at least for now p we know things tend to change throughout the session. Right now, we are seeing stocks in the red, even as Jerome Powell talks. Keeping an eye on rates as well. Far to his thus comments, all those are bouncing off the lows of the session. Take a look at the groups on the move today. Even though we are not seeing steep declines in u. S. Markets, we are seeing a broadbased decline. Look at the imap on bloomberg mostly read on the screen. All of the major groups are down. Sensitiveest rate groups continue to suffer. Health care is one of the big drags on the major averages. There is a lot of movement in health care this morning to keep an eye on pay first of all, keep an eye on. Dental trade we are talking about henry schein and patterson companies. These Companies Control 85 of district readers sales of dental products and services, according to the ftc. The ftc alleging these companies
Shall we call the meeting to order. Will everyone rise and join us for the pledge 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. This secretary roll call please. [ roll call ] thank you. First thing well do today is call for general public comments. Im sorry. Im sorry. We will be going theyre right here but i didnt look. Theyre right inhouse, yes. Well be going into closed session. Anyone who doesnt need to be in the room would you order. Were coming out of closed session. Is there a motion not to disclose . Theres a motion. We need a second. And a vote. Item passes. Next item please. Item 4, general public comments. I have a couple speaker cards. Up first john furland. Let us speak on agenda item 10 on Risk Mitigation. I think the presentations are what i have for you was general public comment. You want to speak on item 10 or general item
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. This secretary roll call please. [ roll call ] thank you. First thing well do today is call for general public comments. Im sorry. Im sorry. We will be going theyre right here but i didnt look. Theyre right inhouse, yes. Well be going into closed session. Anyone who doesnt need to be in the room would you order. Were coming out of closed session. Is there a motion not to disclose . Theres a motion. We need a second. And a vote. Item passes. Next item please. Item 4, general public comments. I have a couple speaker cards. Up first john furland. Let us speak on agenda item 10 on Risk Mitigation. I think the presentations are what i have for you was general public comment. You want to speak on item 10 or general item comment. Im using my general public comment. Ok. I think the Risk Mitigation presentation are fine
I think we can do that very easy, yes. And then, as we have in the past, we can forward this with a letter to each of our board of supervisors and the mayors office. Does that sound reasonable, that we could perhaps add one more page, and then, we would expand on that in the following year . I can work on that. Okay. Thank you very much. Thank you. Was there any other Public Comment . No Public Comment requests for this item. Okay. Thank you. Item nine, commissioners, is other public business. And you have the calendar before you. Theres nothing noted in terms of special meeting notes, as we move forward. Were there any items from the prior year that we had not completely covered or ain calendar. I took the past two years calendar and forwarded all the items that we had calendared in the previous years, and any items that we havent done, i put it forth on this calendar, so right now, the answer would be no. Theres nothing undone from the previous years. So we begin with a clean slate.
Minutes, we are joined by hsbc advisor stephen king. Francine first, chinas yuan has triggered the biggest twobase hit law since 1998, fueling concerns that market volatility will slow growth. Manus the peoples bank of china lover the reference right today, just one day after cutting it by a record 1. 9 . Lets find out how the markets are reacting. Dollaryuan. D you im going to show you the flipside today, yuandollar. Effect,u get the down which is more important. The yuan sinking for a second day. The twoday drop, 3. 61 . That is the biggest twothey drop since 1994. Ripple effects are being felt across global markets. Chinas Central Bank Says there is no economic or financial basis for the Exchange Rate to fall continuously. Ill let mr. King decide whether that is the case. A Ripple Effect is being felt in bond, commodity, and stock markets. Look at the msci emerging market index. I showed you a oneyear chart. Was ther, september 3 peak for the period. From then, through to yesterday,