Starting off the week at 1. 53 . Athave an offshore renminbi 7. 1274. One to watch because china comes back from vacation tomorrow. 107. En is firmly below guy letsguy talk about what weve got going on in europe. We have a picture of a positive of a market, which is positive equity market, which is more positive than an hour ago. I will point out volume is very light on both sides of the atlantic. The pound is down, but not by much. 1. 2321 on the cable rate. The turkish lira continuing to weaken quite sharply, now down by 1. 63 . Lets return to the middle of those three markets. U. K. Prime minister Boris Johnson a welcome boost from the courts after a scottish judge ruled in johnsons favor in a case that could force them to obey a law requiring him to obey brexit to delay brexit if you cant reach a deal. Buckley,ined by George Nomura international chief u. K. And european economist. It is a potential hard out for the u. K. On the way. The markets seem are markedly calm. Are we undere
Positive things in the jobs report as well. S p up 0. 2 now, but of stocks making big moves on good news, including lululemon, up 8. 5 on analyst comments. Conagra, even though it got a downgrade and started the day lower, is up 0. 6 now. Guy lets get some insight on todays payroll number. It wasnt a headline level miss, but it kind of felt like pretty much what the market was looking for. With us is ira jersey. Ira, did todays number change anything . Ira i dont think it changed much. Like you mentioned, it was really a mixed bag. The number of hours worked, as well as hourly average earnings, was ok. When you look at what i call the paycheck of the economy, the some product of all of those the sum product of all of those things, it is higher than it was last month. Not much, but maybe we are stabilizing here considering average wages were falling for the bulk of the year so far. Vonnie larry kudlow mentioned that in terms of wages, we are now 4 plus over the last three months. Im won
Ilene bovin coalition for San Francisco neighborhoods here on my own behalf. On the overhead is the proposal for the 2019 Building Code update. It was presented at the Capital Planning committee on july 22 of this year. In its presentation, the department of the environment stated that 35 of the citys emissions today is from privatesector natural gas. To reduce these emissions, the proposal is to encourage all electric design in new construction. The timeline for this proposal is for review by the department of building inspection and Code Advisory Committee in august, the board of supervisors Land Use Committee in september, and the full board in october. While not in the department of the environment presentation, the Capital Planning Committee Members expressed concerns. With increased reliance on electricity, the issue of reliability was raised. The response was possible use of Battery Storage for electricity. Although not specifically related to this presentation, the issue of und
Introduction of new items . Seeing none, Public Comment is closed. Mr. Clerk, please call the next item. Any Public Comment on items not on our agenda . Seeing none, Public Comment is closed. And mr. Clerk, do we have any further business . No other. Chairman we are adjourned. My s. F. Dove government t. V. Moment was when i received a Commendation Award from supervisor chris daly. Then we sang a duet in the board chamber. [singing] happy anniversary San Francisco government t. V. Happy anniversary to you. Happy anniversary San Francisco government t. V. Anniversary, anniversary, happy 25th anniversary to you. We have a quorum. Were going to go into closed session and regular business will mort start before 2 00. The start rules listed in the agenda are in effect and reminded that Public Comments may be limited to an individual for two minutes. Is there a notion didnt into closed session . So moved. Hearing no Public Comment, motion made and seconded. All those in favour say aye, and o
We have the Semiconductor Equipment index up on upgrades from the street. Upertheless, the s p is only 1 10 of 1 . The 10 year yield at 2. 03 . I know we are going to be sticking with markets. A lot to talk about today because we are smack bang in the middle of a earnings season, but there is the whole backdrop of the Central Banks and their moves as well. Forill speak to mervyn king a very interesting conversation in the last half of this hour. Theres fed talk, European Central bank later this week. It is happening on all fronts right now. Guy lets get a take on that. Alberto gallo joins us now from algebris to give us his take this morning. What are we going to bid from what are we going to get from the ecb this week . Are they going to deliver, or talk about delivering this week . Alberto they are going to talk about it, and potentially a rate cut which may come in september, and then an extension of duration of qe. Buying longer dated bonds and more of each single bond, moving from