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Markets eye Powell, Lagarde and Bailey speeches in Washington DC

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Markets eye Powell, Lagarde and Bailey speeches in Washington DC


European markets saw a far more favorable session the other day, although the FTSE100 delayed a little as a result of underperformance in the fundamental source market.

The favorable session was assisted rather by a slide in bond returns, which drew genuine returns back right into adverse region, with the bounce in bond costs triggering some to wager that returns might well have actually seen a temporary top.

This finds as a rather early final thought provided the instructions of traveling when it concerns PPI with German manufacturing facility entrance costs striking a brand-new document high in March of 30.9% the other day. In current months, these numbers have actually often tended to be leading signs for CPI, so from that viewpoint rising cost of living would certainly show up to have more area to run.

The other day’s Fed Off-white Publication likewise indicated a US economic situation that was beginning to see adverse influences from increasing costs, which can be very early proof that we could be beginning to see the initial seeds of feasible need damage, although inflationary stress were still anticipated to proceed for a couple of even more months. Apart from that, production task was strong throughout areas, while workplace tenancy as well as retail task raised, so it stays, a combined image.

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United States markets had an entirely much more tough session with the Nasdaq 100 obtaining belted on the back of Tuesday’s huge client miss out on from Netflix, which saw the shares complete the day 35% reduced as well as elevated issues that high worth locations of the marketplace can experience a comparable destiny if their revenues numbers drop brief in the coming days. The Dow, on the various other hand ended up the day highly greater.

Today’s European open appearances readied to be a combined one as we expect remarks from the reserve bank divine trinity of Fed chair Jay Powell, ECB Head Of State Christine Lagarde as well as Financial institution of England guv Andrew Bailey, that are all as a result of talk in Washington DC.

Lagarde’s remarks will certainly be very closely scrutinised after the other day’s remarks from Latvian Governing Council participant Martin Kazaks claimed that a price increase in July was feasible, which tightening up procedures needn’t need to wait on proof of salaries development. Those remarks remained in comparison to the tone of Lagarde’s ECB interview previously this month, so it will certainly be remarkable if she doesn’t press back on them.

EU last CPI for March is anticipated to be validated at a document high of 7.5% later on today, with the current flash CPI for April due at the end of following week, as well as which can strike 8%.

Sterling investors will certainly be searching for ideas from Financial institution of England guv Andrew Bailey on the reserve banks intents at its May conference when some kind of price walk is anticipated, although the level of any type of action stays unsure, whether it be 25bps or 50bps. Investors would certainly still be well recommended to work out some care relative to any type of remarks Bailey may make considered that in previous circumstances Financial institution of England advice has actually had to do with as trusted as a delicious chocolate teapot.

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United States information due out today consists of once a week out of work insurance claims which are anticipated to drop bac to 177k from 185k, while the current April Philly Fed study anticipated to be up to 21.7 from 27.4.

EUR/USD – damaged over the 1.0830 location the other day, possibly opening up the possibility of a relocation in the direction of 1.0930. Listed below 1.0750 targets a relocation in the direction of the March 2020 lows at 1.0635. 

GBP/USD – saw a return in the direction of 1.3070 the other day yet require to relocate over 1.3150 to secure as well as target a relocation in the direction of 1.3300. A break listed below 1.2950 says for a relocation in the direction of 1.2800.

EUR/GBP – pressed back to 0.8336 the other day prior to sliding back. Prejudice stays for a relocation lower in the direction of the 0.8200 location as well as March lows, while listed below 0.8330. 

USD/JPY – made a brand-new two decades high at 129.40 prior to sliding back. We can slide back in the direction of the 125.80 location in the short-term, as earnings taking begins. The major assistance exists completely pull back near the 124.70/80 location, yet while over that the predisposition is for more benefit, in the direction of 130.00 along with the 2002 tops at 135.00. 

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Washington, D.C

For some District ANC commissioners, a difficult decision to run again

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For some District ANC commissioners, a difficult decision to run again


At a recent meeting of the Chevy Chase Advisory Neighborhood Commission, the body of elected officials was set to vote on how to oppose the planned use of synthetic turf on a new athletic field.

By the time it ended, the meeting devolved into shouting, interruptions and even profanity. Commissioners repeatedly implored attendees, and one another, not to interrupt. Lisa Gore, chair of Advisory Neighborhood Commission 3/4G, voiced her disappointment with an email that had circulated in the community, accusing her of abusing her power and “shutting off the mic on anyone she does not want to hear.”

Gore is among the hundreds of Advisory Neighborhood Commissioners (often shortened to “ANC”) across the District. The unpaid role is one of the most important yet accessible positions in local politics, requiring just 25 signatures to make the November ballot. But data from the D.C. Board of Elections shows that as of Friday, 117 out of 345 commissioner seats did not yet have a single interested candidate.

Kent Boese, director of D.C.’s Office of the Advisory Neighborhood Commission, which provides oversight and technical assistance to all ANCs, said in an interview that this number should not be a cause for alarm. Some incumbent commissioners may be waiting until closer to the Aug. 7 deadline to pick up petitions and turn in signatures, which can be done in a day, he said. Those who aren’t on the formal ballot can also launch a write-in campaign during the general election, as dozens of ANC candidates did two years ago.

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But Boese said a “much bigger concern” is a recent spate of commissioner turnover, which erodes the transfer of institutional knowledge. Sixty-three percent of commissioners who won election in 2022 were new to the job, he said — a likely sign of fatigue among incumbents.

In interviews, veteran commissioners said that it wasn’t an easy decision to run again for a position that has sometimes made them a target for angry neighbors. Others, describing the role as fulfilling yet thankless, say it can be difficult to perform well as an ANC while also juggling day jobs and familial obligations — renewing discussions about whether District lawmakers should consider more incentives, like a stipend, to fuel interest and more competitive races. A D.C. Council bill that could change that got a hearing last year.

Gore, who has twice run unsuccessfully for D.C. Council, said she hesitated before deciding to pick up paperwork this month to run for a third two-year term as an ANC, pointing largely to balancing the job with family commitments.

“Some community members are like, ‘Why put yourself through it?’ But at my core, I’m a public servant,” Gore said. “It seems like there’s more hesitancy than in the past. This is the first time we’ve had to scramble to ensure people are comfortable taking the seat.”

‘Why did I do this?’

Legal analyst Michael Zeldin, another two-term commissioner in ANC 3/4G, is done with it.

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Zeldin, 73, said he found the job largely rewarding, but noted the role has also kept him busy for an average of 20 hours per week on issues that residents care about deeply, from the long-stalled Connecticut Avenue bike lane project to addressing “potholes the size of New Jersey.”

“There are moments where you think, ‘Why was I so unlucky to have won?’” Zeldin said. “When things affect people, sometimes those frustrations come to you in a very difficult way. And when I hear about other commissioners who are leaving because of that, I can say, ‘I get it.’”

City code instructs many D.C. government agencies to give “great weight” to recommendations and concerns raised by the city’s 46 Advisory Neighborhood Commissions, which represent about 2,000 residents and may contain anywhere from two to 10 commissioners depending on population density.

The commissions are tasked with keeping up regular public meetings, managing modest budgets, and frequently draft resolutions to indicate support of or opposition to local zoning decisions, liquor license renewals and more. But these elected officials are also often the eyes, ears and voices of their neighborhoods. And for some, the role is a first foray into local politics; some of the city’s most prominent leaders got their start as a commissioner, including Mayor Muriel E. Bowser (D).

Tricia Duncan, who chairs the seven-person commission that represents Ward 3 neighborhoods including Foxhall, Kent and the Palisades, said she’s at times been treated harshly by neighbors during her tenure, particularly as the commission facilitated conversations on contentious proposals involving a marijuana dispensary and new school building. “I wasn’t sure if I was going to run again, if I’m being honest,” said Duncan, a well-known community advocate who ran unsuccessfully for the Ward 3 Council seat two years ago.

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“Seventy percent of the things that people say to me are wonderful. They thank me for keeping an eye on the neighborhood, updating the listserv, and that’s what keeps me in this,” Duncan added. “But I also get shouted down when I go to my farmers market … I’ve had people scream at me that I should be ashamed.”

Former Ward 4 commissioner Zach Israel declined to run for a second term in 2022 after the birth of his second child, believing he wouldn’t be able to balance the role while caring for his growing family. But while some parts of the job were frustrating, Israel said he found even the tedious bits to be rewarding.

While no longer an elected commissioner, Israel still uses his social media to break news to residents and keep tabs on ANC vacancies, reminding anyone who will listen to pick up a petition. He is a proponent of legislation introduced by council member Christina Henderson (I-At Large) and backed by a majority of lawmakers that would stand up a task force to make recommendations on compensation for D.C.’s many elected officials, boards and commissions.

The legislation notes that there are nearly two dozen city boards and commissions whose members receive pay for their work.

“A lot is asked of ANC commissioners, and the mayor and ward-level council members often refer their constituents to their ANC,” Israel said. “There needs to be some level of monetary compensation for people engaged in these public services.”

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‘Exhausting, to be frank’

Boese, the head of D.C.’s Office of the Advisory Neighborhood Commission who served as an ANC for 12 years, said that while he is confident that more residents will pick up petitions to access the ballot in the next couple weeks, he remains focused on how best to support the city’s high number of rookie commissioners.

“The other thing that played a big role in turnover last term, it was not easy to serve during the pandemic — it was exhausting, to be frank,” he said. “And for those who chose to continue, there may be a lingering effect as well.”

Many commissioners don’t find their stride until the closing months of their first term, Boese said. To support the newbies, Boese’s office offers a boot camp and trainings throughout the year. And after early challenges during the pandemic, virtual and hybrid meetings are a mainstay. His office is now better equipped to provide technical support.

Until the council takes up the issue of pay, Boese’s office is also pushing for ways to make notoriously complex commissioner roles, like treasurer, more accessible to residents. Until recently, he said as an example, ANCs could only make payments through checks and debit cards; but a change to the law his office pushed for creates more flexibility for electronic payments.

“We need checks and balances still, but we need paths for guidance so commissions aren’t hamstrung trying to do the basics,” Boese said. “It’s not sexy stuff, but sometimes the problem is in the details.”

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Across the Anacostia River, the Rev. Wendy Hamilton, chair of ANC 8D, hopes more of her neighbors will show interest in joining her. Her ANC has two vacancies, and while some incumbents have shown interest in returning, none except Hamilton have picked up a petition to run.

She expects the seats will be filled — but recently spoke to one incumbent co-commissioner who made it clear they didn’t have the energy for a second term.

“They told me, ‘People don’t understand that we don’t get paid to do this,’” Hamilton said. “And they’re right. We don’t get paid, not only for the work we endeavor to take on, but even for some of the not-so-friendly, borderline abusive behaviors that we get subjected to.”

Whenever she does have negative encounter with a resident, Hamiltonwho has run unsuccessfully to become D.C.’s nonvoting delegate to Congress said she draws upon her background in ministry.

“I try to just let people be heard,” Hamilton said. “A lot of times, they just want to be validated.”

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‘A slap in the face’: Two competing airlines challenge San Antonio’s bid for direct flight to Washington, DC

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‘A slap in the face’: Two competing airlines challenge San Antonio’s bid for direct flight to Washington, DC


SAN ANTONIO – The fight for a direct flight from San Antonio to Reagan National Airport in Washington, D.C. has intensified.

Several airlines, including American Airlines, are trying to secure one of five nonstop routes.

San Antonio leaders have pushed to secure a spot for years.

“We’re still having conversations,” said Rep. Chip Roy, a Republican congressman representing Texas’ 21st Congressional District. Roy is part of a group of bipartisan lawmakers making the push.

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Leaders, including Greater San Antonio Chamber of Commerce president Jeff Webster, have been making yearly trips to the nation’s capital to gain support.

“For 25, 30 years, this has been a priority for us,” Webster said. “We’ve worked extremely hard. Not because it’s just a dream, but because we need it.”

Webster said securing this flight to Reagan would not only help with tourism but also business and the military community.

“We are the seventh largest city,” Webster said. “One of the largest insurers of military staff and personnel is USAA, headquartered right here in San Antonio. You better believe we deserve that flight.”

American Airlines isn’t the only airport fighting for a spot.

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United Airlines is trying to land a flight to either San Francisco or Los Angeles.

In comments filed with the U.S. Department of Transportation, United Airlines said San Antonio is a smaller metropolitan area than others trying to get a nonstop flight to Washington.

“Yeah, it’s absolutely absurd,” Roy said. “It’s a slap in the face, and it’s even worse to try to diminish the size and the importance of San Antonio as United is done by saying, ‘Oh, it’s just a small city, really.’ Why don’t you come down and explain that to the people of the seventh-largest city?”

JetBlue Airlines, which is also pining for a flight from D.C. to Puerto Rico, said in its comments that “people in San Antonio can drive to Austin for the existing non-stop service to DCA.”

“What Austin is not is Military City, USA,” Webster said. “What Austin is not is the largest Hispanic community in Texas that oftentimes needs to travel for a variety of reasons.”

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D.C.’s Friday weather seemed special for being ordinary

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D.C.’s Friday weather seemed special for being ordinary


D.C. may take pride in its reputation for sultry summertime swelter, but Friday seemed the sort of day for wondering what all the fuss was about and whether the reputation was deserved.

It was true that Friday seemed obviously a summer day. Its high temperature of 85 degrees seemed clearly consistent with general expectations of summertime.

But Friday failed to inflict on the District the harsh meteorological extremism of many days earlier this month — including the four with temperatures above 100 degrees.

However, if averages mean much, they may suggest that days such as Friday cannot readily be relied on to appear here always or often in July.

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The average temperature in Washington on Friday’s date now stands at 90 degrees. So it would seem that part of Friday’s allure lay in the five-degree gap between its temperature and the District’s average July 26 temperature.

Possibly Friday’s sense that summer had a benign side, might have been earned physiologically. The many days of extreme and above average temperatures this summer have likely caused acclimatization and a process of adjustment.

But cloudy skies also played an obvious part in moderating Friday’s conditions.

For much of the day, clouds shielded the city from the wilting effects of the summertime sun. It is just a little more than five weeks since the sun was at its absolute annual acme.

Feeling its full late-July strength for protracted periods in the glare of streets without shade, with solar rays reflected from concrete and marble would have made Friday seem far less comfortable than it did.

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A major contributor to Friday’s welcome as a well-behaved emissary of summer was the humidity. Or the relative absence thereof.

When summer seems to be at its most intolerable it is ascribed to the joint effect of severe heat and oppressive humidity. Friday was neither too hot nor too humid.

To know the absolute temperature was to know the “feels-like” temperature. Through the day, they were close to identical, meaning that humidity declined to make an 85-degree day seem worse than it was.

This was reflected in the day’s dew points, which were confined to the 50s, a location regarded as comfortable.



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