In december 28th china marks the 40th anniversary of its Economic Reform Program president xi jinping announced that the efforts would continue. To find that there is no text book for reform and development. And no one is in a position to dictate to us what we should or should not do. Shes warning was almost certainly directed at u. S. President donald trump who has criticized chinas trade policies since the day he took office. They engage in relentless product dumping. Forced. Technology transfer and the theft of intellectual property but those days are over. The United States has Just Announced tariffs on another 200000000000. 00 in chinese made goods for a total so far of 250000000000. 00 chinas market distortions. And the way they deal. Cannot be tolerated. The tensions between washington and beijing have put germany in a difficult position at the 21000 Munich Security Conference chancellor Angela Merkel to try to explain why china behaves the way it does. And you know she nothing
December 2800. 00 china marked the 40th anniversary of its Economic Reform Program president xi jinping announce that the efforts would continue aging ago font that marriage is no tanks book fall reform and development you that joke of a no one is in a position to dictate so os walk we show door should not do you should shes done joe she you shes warning was almost certainly directed at us President Donald Trump who has criticized chinas trade policies since the day he took office they engage in relentless product dumping. Forced. Technology transfer. And the theft of intellectual property but those days are over. The United States has Just Announced tariffs on another 200000000000. 00 in chinese made goods for a total so far of 250000000000. 00 chinas market distortions. And the way they deal. Cannot be tolerated. The tensions between washington and beijing have put germany in a difficult position at the 21000 Munich Security Conference chancellor Angela Merkel to try to explain why c
Nejra welcome to daybreak europe. Lets get a look of the markets. Another day, another record for the s p 500 with communication and tech stocks leading the gains. The s p 500 riding rising above 3200 ever. 3200 for the first times ever. The 10 year yields steady. Still above that 190 handle. Could we push towards 2 on the optimism over u. S. China trade. Atexpect a deal to be inked the start of next year. Lets switch over the board. Yesterday, we touched 31 basis points, the steepest since october 2018 on the 210. That reflects the view in the market that we see a little bit more today. Recession fears receding for 2020. We speak to socgen this hour. They have gloomy forecasts out there. No deal risk has been coming to the top of investor minds again. Oil also heading for a weekly gain on optimism around u. S. China trade even if we are flat today. , andrew of england bailey has been chosen to succeed carney as governor. The chancellor could reveal the appointment later today. Governo
And i want to tell you that what were seeing right now is not a cycle change. Its a structural change, and i am sure you are aware and seen the retailers and the retailers are shrinking the footprint and it is not the Large Department stores but even tenants that used to be 5,000 feet are shrinking to 1,000 feet and trying to deal with how to market the goods online and cross market both aspects. It has had a very structural change and quite frankly t vacancy rate at union square is the lowest that i have seen in 25 excuse me t highest in 25 years of business in union square. This there is, as we all know, a lot of vacancies that are happening. Barneys is going to close, forever 21 is closing, Williams Sonoma and the multifloor retailers are going out of business and those are the only ones that can occupy the upper floors. They are just not there. We have been marketing 146 geary for four years and talking to tenants initially to take the entire building because that works the best fo
From 220 post. The likelihood that a Retail Business would want a stand alone third Floor Office Space that is accessible from an alley that provides minimal foot traffic, marginal street visibility and has some Security Issues is in our opinion simply less than minuscule. On the overhead, i want to post one more image which is looking at the alley from grant street and if you see the orange box, that is where the third floor business is. Pretty tough to see. Pretty unvisible. So with all that said, nothing prevents the third floor and the upper floors being turned back into retail if at some future point that becomes viable. Project does not include any physical changes that would preclude that, so i am going to let the project sponsor speak about the actual efforts to lease this building, but before i go, in your packet, you have support letters that collectively include 41 signatures in support of the project including a leter from members of the Street Building at 210 post which in