(Wed, Nov 13 2024 1:48 PM to Sat, Nov 16 2024 1:48 PM) 70 Division buses are temporarily rerouted via Division, Laramie, Augusta, Cicero and Division, due to street blockage near Division/Leclaire.

This week's interview is with WSM Spiritual Formation Shepherd, Nina Baker. The Crew will interview Nina on her new position at The Well and her recent Exposure Trip to Uganda. The Crew also discusses their thoughts from the final sermon of the AOD Series on Relationships. Email thespoutpodcast@gmail.com with any feedback or leave a review on iTunes. Like The Well - Spoutcast on Facebook, find us on Twitter: @thespoutcast, or add us on Instagram: @thespoutcast. Check back in with the Spoutcast each week for a new episode or search Spoutcast in iTunes to subscribe to this podcast. This week's music is from NEEDTOBREATHE. Speaker: The Spoutcast Team

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Officials from the U.S., Canada, and Finland on Wednesday signed a memorandum of understanding (MoU) that formally launches a trilateral effort to share resources and knowhow to develop and produce […]

Starfish Space on Wednesday announced a new funding round that will allow it to complete development and build of three spacecraft that will be used for on-orbit docking and maneuvering […]

Elon Musk will co-lead a newly created Department of Government Efficiency in the Trump administration, president-elect Trump said late Tuesday. According to Trump’s press statement, the Department of Government Efficiency will […]

The Pentagon on Wednesday disclosed additional capabilities selected for its Replicator initiative to get after fielding innovative technology rapidly at scale, which includes small drones from an Army program, loitering […]

The work-from-home trend, a shortage of new housing and other factors are leading people to expand their homes and remodel existing spaces. They’re often turning to single-zone ductless products to heat and cool those new living spaces.

The acquisition establishes a direct corporate presence in Australia and a foundation for further expansion in the Asia-Pacific region, a press release from Fieldpiece said.

The Ontario Power Authority (OPA) has announced updates to the saveONenergy Retrofit Program that provide additional financial incentives for Ontario businesses to reduce energy used by lighting, HVAC systems, refrigeration systems, and building plug loads.

Distech Controls, a provider of energy management solutions, announced it was named the Provincial Laureate, SME Exporter category, at the 21st edition of National Bank’s SME Awards. The company noted it has the honor of being a two-time award recipient, having been named Bronze Laureate in the same category in 2014.

Belimo Americas was the recipient of the Atlantic Canada Mechanical Exhibitors (ACME) Innovation Award for its Belimo Energy Valve™. The Energy Valve is a two-way pressure independent control valve that optimizes, documents, and proves water coil performance.

Enercare Inc. has announced the launch of the Enercare Fresh Start Program, a new corporate social responsibility program designed to help families transitioning between temporary shelters and a home of their own.

Constrafor is stepping up to support local contractors across Florida, North Carolina, and Georgia with a comprehensive Disaster Relief Effort. This initiative, in conjunction with their Early Pay Program (EPP), aims to provide immediate financial support to contractors, enabling them to overcome delays, secure materials, and ensure timely payment for their teams.

Paul Davis Restoration pledges $1 million to the American Red Cross Annual Disaster Giving Program in response to Hurricanes Helene and Milton. This proactive donation ensures the Red Cross is equipped to meet the needs of those affected by disasters across the U.S. Discover how this significant contribution, along with volunteer efforts, supports disaster relief and community resilience. 

The latest version of Xactware’s estimating software contains enhanced features to make estimating renovation and repair costs faster, easier, and more effective.

MP Global Products recently introduced two high performing time- and labor-saving self-adhesive membranes for floor and wall tiling.

The family of moisture meters from General Tools & Instruments features a variety of precision specialty instruments that are affordable, versatile and high-tech.

Prochem says that the tool’s advanced design speeds jobs and all at a cost that’s 75% less than a traditional ride-on extractor.

The new Velo™ and Velo Pro airmovers deliver that and more: unbeatable versatility, easy maintenance and maximum airflow, all in a design that requires half the amps and measures half the height of traditional “snail shell” carpet dryers.

11/18/2024 - 1:00 PM - Venue: Rawlings library

11/17/2024 - 10:00 AM - Venue: SteamPlant Event Center

FPSA foundation also supported food-insecure communities through the DEFEAT HUNGER initiative.

Japan's former vice minister of finance for international affairs, Masato Kanda was reported with comments on Wednesday ICYMI.

• currency market volatility had increased reflecting recent changes in monetary policies and political situations in major countries
• "There is no change to our stance that we will need to respond appropriately to excess movements on the currency market as excessive foreign exchange volatility is undesirable"

His comments have not slowed the yen decline:

***

Kanda is now a special adviser to Prime Minister Shigeru Ishiba and the finance ministry., said in an interview that currency market volatility had increased reflecting recent changes in monetary policies and political situations in major countries.

There was a bit of a wrestle after the US CPI report yesterday but eventually, the dollar once again reigned supreme. EUR/USD saw a break below the April low of 1.0601 and has now traded down to fresh lows for the year. As the greenback continues to run a rampage, it is starting to draw in a rather critical level for EUR/USD in the bigger picture:

As seen from the above, the pair has been sort of stuck within a range of 1.0500 to 1.1200 roughly since the start of 2023.

As such, there looks to be an inevitable pull towards the 1.0500 mark now as sellers have proven their mettle at each and every other test since the start of October trading. The most recent of course being the fall below the April low of 1.0601, as mentioned above.

Taking the technical backdrop above into consideration, it pretty much means we're reaching a very, very critical juncture in gauging the post-election dollar momentum.

A firm break below 1.0500 is not only one to set off any further declines in EUR/USD. But the spillover potential means that it is going to spur even further gains in the dollar as we look towards year-end.

There is certainly strong arguments for that, as Adam pointed out here. But are traders going overboard in frontrunning the potential for the Trump trade and tariffs? That's something to consider as well perhaps.

For now, the momentum trade is name of the game in FX. However, don't ignore the implications set out by key technical boundaries such as the one in the chart above. That will be vital in determining the strength and resolve of the dollar momentum we're seeing now.

• Prior +1.5%
• HICP +1.8% vs +1.8% y/y prelim
• Prior +1.7%

Core annual inflation was seen at 2.5% on the month, up slightly from 2.4% in September. That just reaffirms a small bump in the works in the disinflation process. But given recent developments, the ECB will still feel comfortable in sticking with rate cuts for now.

• Prior +0.3%
• GDP +0.9% vs +0.9% y/y second estimate
• Prior +0.6%

No changes to the initial estimates as this just reaffirms more modest growth in the euro area in Q3. But this is old news, as the focus is on the outlook next year with Trump tariffs set to come into the picture.

• An 'activist' approach means to cut less until it is clear inflation persistence has been purged
• I would be ready to cut rates in bigger steps when inflation risks have gone

As mentioned, she's arguably the most hawkish member on the policy committee. So, these comments need to be taken with that in consideration. Her comments are also reflected by her bank rate vote last week here, as she was the only member to dissent against the rate cut decision.

• Fed will 'most likely' need more cuts but should 'proceed cautiously'
• If Fed cuts too far past neutral, inflation could re-acclerate
• Difficult to know how many Fed rate cuts may be needed, and how soon they need to happen
• Fed has made a great deal of progress in bringing inflation down
• Fed not quite back to price stability yet
• US economic activity is resilient
• Labor market cooling gradually but not weakening materially
• Sees upside risk to inflation, downside risk to employment, says financial conditions may pose biggest challenges for monetary policy
• If bond yields continue to rise, the Fed may need less-restrictive policy

Logan last spoke in late October and wasn't quite this hawkish. I think the Fed cuts in December but takes a pause after that and waits to see how things play out.

Federal Reserve Chair Jerome Powell delivers a speech on his economic outlook, followed by a question and answer session.

• Powell participates in "Global Perspectives" conversation before event hosted by the Dallas Regional Chamber, World Affairs Council of DFW and the Federal Reserve Bank of Dallas
• @ 2000 GMT / 1500 US Eastern time

While the Fed seems committed to a December rate cut not all signs in the CPI data on Wednesday were encouraging.

0830 GMT / 0330 US Eastern time - Remarks by European Central Bank's vice president Luis de Guindos at 31 Encuentro del Sector Financiero organised by ABC and Deloitte in Madrid, Spain

1830 GMT / 1330 US Eastern time - Participation by ECB Board member Isabel Schnabel in policy panel "Reassessing Policy Tools for Current and Future Challenges" at 25th Jacques Polak Annual Research Conference "Rethinking the Policy Toolkit in a Turbulent Global Economy" in Washington, DC

1900 GMT / 1400 Remarks by ECB President Christine Lagarde at Choiseul Sovereignty Awards 2024 ceremony

I posted yesterday on the prospect of deeper than expected ECB rate cuts yet to come:

• ECB Interest Rate Forecast: Deutsche Bank's 7 reasons for projecting a lower terminal rate

Meanwhile, EUR is struggling near a one-year low:

The data is here from earlier:

• Australian October unemployment rate 4.1% (vs. 4.1% expected)
• AUD/USD little changed after the October employment report showed a steady jobless rate
  • (ps. AUD/USD has slid a little since this post, broadly stronger USD the culprit)

Westpac with the recap, in brief:

Australian labour market remains in relatively solid health

• employment growth slowing broadly in line with population growth
• average hours holding steady
• few signs that labour demand is capitulating to an extent that warrants concern
• labour market conditions remain somewhat tight ... this is not translating to stronger wage inflation pressures
• On balance, today’s update will see the RBA continue to remain focused on the dynamics around underlying inflation.

***

Speaking of the RBA, we heard from Bullock earlier, not dovish:

• RBA Bullock says rates are restrictive enough, staying there until confident on inflation

***

AUD/USD update:

Times below are GBT / US Eastern time:

1400 / 0900 Federal Reserve Bank of Richmond President Thomas Barkin speaks on the economy in fireside chat before the Real Estate Roundtable

1500 / 1000 Federal Reserve Board Governor Adriana Kugler speaks on "Central Bank Independence and Economic Outlook" before the Latin American and Caribbean Economic Association (LACEA) and the Latin American Chapter of the Econometric Society 2024 Meeting

2000 / 1500 Powell, as already noted

2115 / 1615 Federal Reserve Bank of New York President John Williams speaks before the "Intermediating Impact: Making Missing Markets" event hosted by the Federal Reserve Bank of New York

As head of the NY Fed Williams is vice chair of the Federal Open Market Committee (FOMC) and has a permanent vote at the table. .

The main objective of this OSCE project is to create evidence including in the context of conflict/crisis  to be used in the long term for improved programming and policy-making.

The contractor will be expected to undertake all aspects of work relating to the survey and additional qualitative research, including:

• pre-test/pilot study of the new conflict module;
• development of country/area specific research tools;
• qualitative key expert interviews and focus group discussions;
• interviewer selection (female interviewers only);
• interviewer training;
• random selection of respondents;
• questionnaire finalisation and translation of fieldwork and interviewer training materials;
• all fieldwork/data collection;
• data entry and processing;
• data analysis and drafting several thematic and regional reports.

The data will be collected through the use of structured, quantitative survey interviews and additional key expert interviews and focus group discussions. The survey interviews will be carried out face-to-face in each country/area by female interviewers who have completed in-depth, in-person training dedicated to the topic of the survey.

The interviews will be conducted using a standardised questionnaire already developed. Part of the contract will be testing revisions on this questionnaire and finalizing it.

The required net sample size is a minimum of 1500 women per country/area using a strict random (probability) sample.

The Contractor will be responsible for ensuring the quality, consistency and timeliness of work carried out in each country/area selected to take part in the study. The consistency of the methods and procedures applied in the various countries/areas and strict compliance with the detailed methodology of the survey needs to be ensured by the Contractor. The foreseen total duration of the assignment is 15 months.

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• Implementation of the Project “Promoting awareness-raising tools on combating sexual exploitation through internet (social theatre) (2016)”
• Provision of Printing and related Services for the OSCE
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• Provision of Printing and related Services for the OSCE
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Twenty-five lecturers from law faculties at fifteen universities from around Ukraine, during a roundtable discussion supported by the OSCE Project Co-ordinator on 13 July 2016 in Kyiv, developed recommendations on teaching human rights within Master of Law university programmes.

The discussions focused on teaching the European Convention on Human Rights and the case-law of the European Court of Human Rights (ECtHR), with international experts from the Max Planck Institute Luxembourg for International, European and Regulatory Procedural Law, the Union University and the ECtHR highlighting ways of ensuring a human rights-based approach to legal education.

Participants exchanged syllabi, research materials and teaching methodologies and agreed to set up a platform to further develop the human rights law curricula. This community of practice will function on a permanent basis with further support from the OSCE Project Co-ordinator and with the participation of leading Ukrainian law schools.

The roundtable discussion was held as part of the Second Annual Inter-University Human Rights School on 11-15 July 2016, which was organized by the OSCE Project Co-ordinator in Ukraine in co-operation with the Lviv and Kyiv Universities.

The School was held as part of the OSCE Project Co-ordinator’s project on safeguarding Human Rights through the courts. The project is being implemented with the financial support of the Government of Canada, and follows on from the First Annual Inter-University School dedicated to the Right to Life held in 2015.

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• Call for Applications to the Youth Contact Groups from Donetsk and Luhansk Regions
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PODGORICA, 4 April 2016 - In response to articles carried in various media outlets, the OSCE Mission to Montenegro would like to clarify its role regarding the upcoming elections. While the Mission has contracted an international senior-level expert to advise the State Election Commission (SEC) on their technical preparations for the parliamentary elections anticipated for this autumn, the Mission does not observe elections.

This expert is currently working with the SEC in developing training materials to be used by election commissioners for the upcoming local government election in Tivat on 17 April.

Through its senior-level technical expert, the Mission will continue its efforts in providing technical assistance to the SEC up to and including the conclusion of parliamentary elections.

The relevant institution within the OSCE responsible for election observation is the Warsaw-based OSCE Office for Democratic Institutions and Human Rights (OSCE/ODIHR). As per the OSCE/ODIHR's election observation methodology, during the deployment of an election related activity for parliamentary elections, a clear separation of mandates between the OSCE/ODIHR and the OSCE Mission to Montenegro will be maintained.

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• Head of the OSCE Mission highlights the media’s crucial role in building democracy
• OSCE Mission to Montenegro-supported campaign on benefits of composting kicks-off in Pljevlja
• OSCE Mission to Montenegro supports seminar on strengthening co-operation between prosecutors and police on forensic evidence

A televised debate hosted by the Montenegrin Public Service Broadcaster and supported by the OSCE Mission on 2 May 2016, ahead of World Press Freedom Day, raised on awareness about the threats to media freedoms and specific problems facing journalism as a profession.

Taking part in the debate were Nikola Markovic, Editor-in-Chief of daily Dan; Tufik Sofitc, Acting Director of Radio Berane, journalist of daily Vijesti and weekly Monitor, and currently under police protection; Ranko Vujovic, Executive Secretary of the Media Council for Self-Regulation ; Marijana Bojanic, Executive Director of Vijesti Television; and Drasko Djuranovic, Editor-in-Chief of the daily Pobjeda.

Among the issues highlighted were problems related to the polarized media industry in Montenegro, different pressures on journalists, state-financing subsidies and the media market, the social standing of journalists, and the lack of solidarity.

Panellists agreed that the amended Code of Ethics for media professionals is a major step forward which has improved co-operation among the media but the focus now should be on its implementation.

 “In order to achieve and practice the freedom of expression, it is necessary to have a strong and independent media, and in order to have that, it is essential to ensure their sustainability,” said Bojanic. 

The TV debate is available in the Montenegrin language.

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PODGORICA, 12 July  2016 - OSCE Secretary General Lamberto Zannier concluded today a two-day visit to Montenegro, marking the 10th anniversary of the OSCE Mission to Montenegro. “After independence, this country entrusted the OSCE with an important responsibility: to help advance security, democracy, the rule of law and human rights for Montenegrin citizens,” Zannier said.  

During his visit, the Secretary General met with President Filip Vujanovic, Parliament Speaker Darko Pajovic, Prime Minister Milo Djukanovic, Deputy Prime Minister Dusko Markovic and Minister of Interior Goran Danilovic, as well as representatives of civil society.

Zannier commended the Montenegrin authorities for their commitment to undertaking reforms and encouraged further progress, offering OSCE’s continued support in line with national priorities. “The OSCE remains one of the country’s key partners in helping to further develop independent, open and transparent institutions that enjoy wide public trust,” he stated.

Discussing preparations for the parliamentary elections on 16 October, the Secretary General commended the sense of responsibility already demonstrated by political parties in overcoming the recent political crisis through a broad political agreement adopted last April, which was important, above all, for the Montenegrin people.

“Political leaders managed to successfully bridge their differences by reaching a compromise, one that aims to serve the public interest,” said Zannier. “Now we need to see this agreement implemented in full, and in good faith.”

During his meetings, the Secretary General stated that the parliamentary elections will be an important test for the country, adding that the Mission to Montenegro is providing technical assistance to the State Election Commission until the end of 2016. “All actors involved in the preparation of elections should work together as closely as possible in line with their responsibilities as set out in the law. This is vital for having a credible election,” Zannier concluded.

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• Hand in Hand with Montenegro – Stability and Co-operation for Success
• On World Anti-Trafficking Day, OSCE calls for comprehensive, co-ordinated and victim-centred approach to combatting modern-day slavery
• OSCE Chairperson-in-Office Steinmeier and Secretary General Zannier offer condolences on passing of Nobel Peace Prize laureate Elie Wiesel

DUSHANBE, 15 July 2016 – Combating the illicit trade in cultural property and the smuggling of historical artifacts was the focus of a week-long workshop organized by the OSCE for representatives of Tajik Border Troops, Customs Service, State Committee of National Security, the Ministry of Culture and Ministry of Internal Affairs, in Dushanbe from 11 to 15 July 2016.  

The workshop, organized by the Border Security and Management Unit of the OSCE Transnational Threats Department and the OSCE Office in Tajikistan in co-operation with the OSCE Border Management Staff College, examined the trafficking of cultural property and smuggling of historical artefacts as an emerging trend for funding organized crime and terrorist organizations. The workshop also highlighted the roles of the responsible agencies in addressing the problem.

“Being the first workshop of its kind organized by the OSCE, we were shown that this is not only an issue of cultural protection but that it has become a serious transnational security issue as well,” said Ambassador Markus Mueller, Head of the OSCE Office in Tajikistan. “As such, and bearing in mind its complexity, this problem can be tackled efficiently only by increasing the knowledge of the officers from different government agencies as well as through promoting co-operation among them."

During the workshop, participants heard from experts at the OSCE, INTERPOL, the United States Department of Homeland Security, the United Nations Office on Drugs and Crime, the Greek National Police’s Department Against the Smuggling of Antiquities, the UNESCO Office in Afghanistan and the Afghan Customs Service. They shared their experiences on cross-border co-operation in identifying the trafficking of cultural property cases and financial investigations into the smuggling of historical artefacts.

WARSAW, 9 July 2016 ─ Michael Georg Link, Director of the OSCE Office for Democratic Institutions and Human Rights (ODIHR), today welcomed the decision by the Supreme Court of Kyrgyzstan to reconsider the case of human rights defender Azimjan Askarov, and again called on the Kyrgyz authorities to heed a decision of the UN Human Rights Committee calling for Askarov’s release.

A Supreme Court hearing is scheduled to review Mr. Askarov’s case on Monday, 11 July.

“I welcome Kyrgyzstan’s openness to reviewing Azimjan Askarov’s case, and my Office stands ready to support the Kyrgyz authorities in their implementation of OSCE commitments related to human rights,” said Director Link. “Kyrgyzstan is obligated under both international law and its own Constitution to quash Askarov’s conviction and immediately release him.”

On 21 April 2016, the UN Human Rights Committee decided in favour of a complaint filed by Askarov, finding that he had been arbitrarily detained, held in inhumane conditions, tortured and mistreated, and prevented from adequately preparing his trial defence. The Committee called on Kyrgyzstan to immediately release him, overturn his conviction, and provide him with compensation for the violations of his human rights. Article 41.2 of the Kyrgyz Constitution requires authorities to implement the Human Rights Committee decision.

“Mr. Askarov’s ongoing detention is not only unlawful, as the UN Human Rights Committee made clear, but also inhumane, in light of the serious deterioration of his health,” the ODIHR Director said. “We look forward to Mr. Askarov’s release and the restoration of his rights, including his access to urgently needed medical care outside of confinement.”

Askarov was reportedly subjected to ill-treatment during his initial detention by police and during his trial. Despite very serious health concerns, he was denied access to adequate medical treatment by detention officials. Since then, he has been held at Penal Colony No. 47, in Bishkek, where his health has reportedly deteriorated further.

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