The recovery is under threat from the covid19 resurgence. Frydenberg says the other plumbing rate will jump in the coming weeks. Economy and the government handling of covid19. A look at howake we are shaping up for a new trading week in asia as the market continues to search for direction. U. S. Stocks trading close to fresh highs. We had the stock market up for a fourth straight week friday amid albeit light volumes. Up. 2 this morning and asia and we are seeing positivity going into the start of trading in japan. We have one report Prime Minister shinzo abe is headed back to the hospital so we will continue to watch that story. And the potential applications for policy continuity. Japanese yen Holding Steady at 105. 86, with a rebound in the friday session. Rise in u. S. Treasuries. At 42. Crude trading 49, ending the last week its advancering in asia. Shery lets talk about china. Beijing is offering support to strengthen hong kongs role as an International Financial center. For mor
We have a quorum. Very good. Secretary can you please make the announcement. Mayor breed and the governor looked at the restrictions and the meet is held the conference and televised by sfgov. Tv. For those watching the live stream be aware theres a brief time lag between the live meeting and what is being viewed on sfgtv. Id like to extend thanks to the staff and i. T. Staff for their assistance during the meeting. Id also like to note on the published agenda there was an incorrect dialin number for this meet. The correct dial in number is scrolling on the live feed. If you wish to make Public Comment on an item call the number. Before you have the minutes of july 28. Are there corrections or additions to these minutes. Seeing none id like to open it up to moller caen are there corrections or are there comments. Please press pound, pound to speak. Are there any callers. Theres one caller with their hand raised. Ill unmute them now. Speaker you have two minutes. Clerk this is regarding
Would anybody trust a vaccine coming out of this administration . And when it is [indiscernible] we are having technical problems with our live feed, but we are working to fix the problem and when you back to the discussion shortly. [no audio] second round of economic stimulus payments to families and extended Unemployment Benefits until january 2021. The heroes act will provide significantly more funding to cities and towns and also would clarify treasury guidance that currently prevents State Governments from using [indiscernible] alternative bills provide zero dollars to states, zero dollars for financial assistance, and clawed back hundreds of billions of dollars that could be used to support struggling businesses. In addition the president cut funding to states. The protestsike against racism and Police Brutality in the streets in many communities. Families across the country suffer [indiscernible] about the challenges their faces and the response needed from the federal governmen
We have seen strength. It has reached 690. That could mean a path to a level not seen since january. The hang seng up 1. 5 . Take a look at where we are in terms of emerging markets. They are trading higher. 1 shy of a recent losses. The kospi is up. The south korean assets will be watched today as it is expected to stoper restrictions a flareup. Gold down to 1943. Lets get to first word news with Karina Mitchell in new york. Karina President Trump is welcoming a coronavirus treatment that involves blood plasma from corrupt recovered patients, saying it will be expanded to more sufferers after the fda approved its use. This makes it easier to make it accessible. Even though its full effectiveness has not been proven. The fda has concluded the treatment is safe and works. Virushas marked a grim milestone topping 3 million infections as the outbreak accelerates. New cases rose by 59,000 sunday with 57,000 people having died in total. South korea is considering imposing tighter Health Res
Im yousef gamal eldin in dubai. Quite the risk on session. Lets get you the state of play. The signals were getting between the u. S. And china are encouraging. S p 500 many futures are higher. Quite a few gains in the european stocks story, as well. Tech and cyclical sectors, including autos, are leading those gains. Fund managers are overweight on 2018, according to the latest bank of america survey. Telling bonds standing out, paring middle of the gains. Treasury study in the United States. Eurodollar at 118. 16. Little upside, weaker dollar story weighing on broader g10 space. At a net long position, the least bullish in three weeks according to the latest data. Lets check in on your bloomberg first word news, will be get you some of the other stories were watching, starting off with president donald trump. He says a coronavirus treatment that involves blood plasma from recovered patients will be expanded to more sick americans. It adds to therapy even before researchers fully unde