Theseard some of questions wrapped around the surging equity markets that we saw yesterday. Jon is going to do the data in a bit. We saw a pullback in the data this morning. Butee it in bonds as well, a most interesting day all in all. You centered your data checks on the mystery of the u. S. Dollar. We are going to address that in a bit, but it is still a remarkably resilient u. S. Dollar. Jonathan and a hugely divisive debate at the moment about geographical bias. A lot of people focused on that word divergence. What is the reopening we can depend on . Is it not the United States . That is the question that has come up continually. For this recovery, the reopening, it will be bumpy and we will see a lot of evidence of that today in australia. At theu mentioned this top of the last hour. To see melbourne on official relocked down, that was sobering. Of about 5ity Million People and a daily infection rate pushing 200. It is a different approach. It is about the science, yet the policy
Process is dominance of government the parliamentary process is dominant of government, completely opposite of what we see in the United States, but it is really all the same thing, governments coming to the rescue of economies that are simply shattered. Francine yeah, and we dont know if there is a second wave or a specific lockdown coming our way as well. Lets get to first word news in new york city with ritika gupta. Ritika good morning, francine, tom. The u. S. Is pending planning a one a Virus Testing resurgence. Testings are being sites are being set up in louisiana and florida. They could provide a clearer picture of how the coronavirus is moving through the population. Officials are weighing how far to go in reopening the economy or rolling back steps already taken. In brazil, president bolsonaro is defending his approach to the coronavirus despite the fact it has killed tens of thousands of brazilians and left him with the disease as well. Bolsonaro has called the virus a litt
Jes staley coming up from barclays, he has got the mess in hong kong. Kevin cirilli will be with us from washington on the trump response to the news out of hong kong. Right now, in your united kingdom, it is a new deal in dudley. Francine it is a new deal. We are expecting the Prime Minister to deliver on his speech that was quite popular in his pReelection Campaign, bringing britain back. We are expecting him to do a lot for infrastructure, give money to schools that under previous tory government slots lost a lot of funding. Deathsy are there more because of covid19 compared to other european countries, the debt load this country has is different than anywhere else in europe. I imagine Boris Johnson will have to do this speech while at the same time keeping International Investors on board. Tom it will be interesting to see. We are monitoring the presence of the Prime Minister in dudley. In new york city, ritika gupta. Ritika the stage has been set for another confrontation between
Basically kind of bouncing around. There is a lot of concern as to where this rally can go based on the fundamentals with the economy and corporate earnings. Caroline the economy, corporate earnings, this is exactly what Bloomberg Intelligences Gina Martin Adams has been talking about. The second phase of the recovery will be slower, choppy or. We have real earnings progress to underpin some of these numbers. Today, we got a little bit more betterthanexpected Consumer Confidence data. Taylor driving valuations on the s p 500. One of the first times in a very long time where the s p trading at a valuation is higher than the stocks index. Typically, those chipmakers have been so overvalued. Refocusing back here just on the u. S. Is really led that market higher. Romaine when we talk about risk assets, we look at some of the havens. Gold at one point today traded above 1800. Having one of its best quarters ever. Treasuries have been kind of range bound over the last couple of months. Year
S. Fewer good afternoon. Well start with the meet and i welcome our councilors and president norman yee. Id like to thank our clerk and thank you sf gov tv for board offing this. Madame clerk. Clerk the city chamber and Committee Rooms are closed and others will be participating remotely. Caution is taken various local stayed and orders and directors. Well have the meeting through Video Conference and Public Comment will be available on each item on this agenda and theyre streaming the number across the screen. Each speaker will be allowed 10 minutes to speak. Opportunities to speak during Public Comment period are available via phone call by calling 415655001. Access code 145 254 1827 best practices are to speak clearly and alternately you can email for Public Comment and theyll be forwarded to the supervisor and included part of the file and items are expected to appear for the agenda june 17 than otherwise stated. S. Fewer call items one, two and three together. Clerk [reading items