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Nov 1, 2023
11/23
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how far will the boj allow it to rise? 1.5%? will the boj by more jgb's after holding 60% already? rishaad: just opening, trying to gain composure, a gain of 0.1%. the dollar playing out with strength against the baht. just had a raid on thailand pmi manufacturing. we saw it come in worse than expected, further contraction, 47.5 means pmi has fallen to the lowest level since february 2020 one. looking at futures for the nifty, flat start to the trading day. a bit below record lows for the rupee which has been languishing there for days. it is about the fed and the bank of let's get to mark, let's kick things off with the boj. if -- is this a lesson on how a central bank should not communicate with investors and market participants? >> the boj will be disappointed with how things played out. probably taken aback at the speed with which dollar-yen went up yesterday and that is concerning for japanese authorities. it is above 151. it got there quickly. that is what compares it to last year. the reasons why they intervened last year, dollar-yen was rising too quickly, to percent prices
how far will the boj allow it to rise? 1.5%? will the boj by more jgb's after holding 60% already? rishaad: just opening, trying to gain composure, a gain of 0.1%. the dollar playing out with strength against the baht. just had a raid on thailand pmi manufacturing. we saw it come in worse than expected, further contraction, 47.5 means pmi has fallen to the lowest level since february 2020 one. looking at futures for the nifty, flat start to the trading day. a bit below record lows for the rupee...
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Nov 14, 2023
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economy at a time when it is worrying the boj, ecb and federal reserve?will the bielby respond? at the same time, how will the physical government respond when more and more people are demanding higher and higher wages? a tight labor market is the story around the world, as is the geopolitics. here in the u.k., prime minister rishi sunak has taken what many see as a gamble i bringing back former premier david cameron as foreign secretary in an extraordinary cabinet reshuffle. the move threatens to split the conservative party and could dog him all the way to the next election. let's bring in adam. david cameron, a man of many controversies. why is he concerning so many members of parliament? adam: good morning. he is concerning parliament because he has come back into government at one of the key offices, foreign secretary, one of the great offices of state. he's got a lot of baggage. he was the prime minister who walked out of outing street singing a little bit after he resigned at the end of the brexit referendum that he lost. he called the referendum o
economy at a time when it is worrying the boj, ecb and federal reserve?will the bielby respond? at the same time, how will the physical government respond when more and more people are demanding higher and higher wages? a tight labor market is the story around the world, as is the geopolitics. here in the u.k., prime minister rishi sunak has taken what many see as a gamble i bringing back former premier david cameron as foreign secretary in an extraordinary cabinet reshuffle. the move threatens...
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Nov 24, 2023
11/23
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it's about that boj 2% target for a 19th straight month.to force the boj to think about starting to normalize its policy settings. that's the state of play for japan. markets coming online. let's take a look at what's happening in korea. the kospi and the cost act, fairly steady in the session. trading volumes will be thin. the korean won hovering just at that key psychological 1300 level. it is stuck in that range throughout the course of the week. some rebalancing for the kospi 200 has been announced. we will check those movers in a few minutes. let's change on. of the session. we are keeping an eye on what's happening in the material stocks in particular. trading volume, 30% lower from where it would typically be at the session. the material stocks are the want to be watching here. they are little bit higher even though we are seeing iron or continuing a modest retreat in singapore. that's the singapore contract there. beijing putting out a statement yesterday, trying to cool the rally we have seen since the start of august, being driven
it's about that boj 2% target for a 19th straight month.to force the boj to think about starting to normalize its policy settings. that's the state of play for japan. markets coming online. let's take a look at what's happening in korea. the kospi and the cost act, fairly steady in the session. trading volumes will be thin. the korean won hovering just at that key psychological 1300 level. it is stuck in that range throughout the course of the week. some rebalancing for the kospi 200 has been...
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Nov 1, 2023
11/23
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kriti: which is ironically what we said yesterday for the boj. it is the fed's turn to weigh in on that. part dobson, thank you for your analysis. that decision coming in about 6:00 p.m. u.k. time, alongside a slew of other things. we have u.s. ism manufacturing data coming out as well. that is going to do at about 2:00 p.m. u.k. time. where is the construction at the manufacturing part of the economy? the u.s. is more of a services-based economy. to get a check on that is very important, especially when we talk about the industrial complex within the united states. how does that feature in the fomc's decision? that comes out at 2:00 p.m. u.k. time. right here in the u.k., we have the ai summit as well. we have reporting on the ground from that today. a lot how the u.k. really approaches building out the tech complex in the u.k. we know it's been a significant touch point. they have lost major names to other parts of the world. i am thinking nvidia. how do you keep the ai story right here in the u.k. when, of course you are dealing with brexit, o
kriti: which is ironically what we said yesterday for the boj. it is the fed's turn to weigh in on that. part dobson, thank you for your analysis. that decision coming in about 6:00 p.m. u.k. time, alongside a slew of other things. we have u.s. ism manufacturing data coming out as well. that is going to do at about 2:00 p.m. u.k. time. where is the construction at the manufacturing part of the economy? the u.s. is more of a services-based economy. to get a check on that is very important,...
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Nov 15, 2023
11/23
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because the boj would not normalize policy until it is absolutely sure it needs to.his sort of imprint is going to encourage the boj to wait until it is sure the economy is strong enough to take on the burden of nonnegative interest rates. it keeps the boj tending toward that easy side or at the very least stuck in the little. the same sort of thing goes toward having u.s. yields come off, having the u.s. dollar drop , including very strongly dropping against the yen, that also takes the pressure off the boj, so from both sides, when you look at this morning, the boj is likely to take it's time -- shocking concept, i know -- in moving to normalize policy. annabelle: thank you so much for that. just want to bring you to some pictures now of san francisco. chinese president xi jinping now in san francisco for a high-stakes meeting with president biden. of course the apec summit taking place in san francisco over the next couple of days. it is president xi's first u.s. trip in six years. as you can imagine, it has drawn crowds, crowds of protesters and crowds of support
because the boj would not normalize policy until it is absolutely sure it needs to.his sort of imprint is going to encourage the boj to wait until it is sure the economy is strong enough to take on the burden of nonnegative interest rates. it keeps the boj tending toward that easy side or at the very least stuck in the little. the same sort of thing goes toward having u.s. yields come off, having the u.s. dollar drop , including very strongly dropping against the yen, that also takes the...
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Nov 9, 2023
11/23
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let's talk about boj policy. you are starting to see the start of normalization.uld we see the end of negative interest rates in japan then? >> the bloomberg survey shows many economists and japan think that april of 2024 is most likely for the bank of japan to do the normalization of rates. there are also people that say there is a risk for earlier than that. i think the forecasts of boj policy is now no longer on icc operations, but short-term rates and policy rates. we think we need to consider the risks of amended rates [indiscernible] earlier before the october decisions. when it comes to the impact of equity markets, usually, rates rising is a negative on equity markets. but it's not necessarily like that for japan this time around. because japan corporates are cashed-rich, 40%, 50% of their market cap. so the impact will be milder. the historical relationship between per and jgb yields, it tells us it will likely normalize to be higher. we need to think about this narrative, as well as the potential positive impact, we think it will be net positive. shery:
let's talk about boj policy. you are starting to see the start of normalization.uld we see the end of negative interest rates in japan then? >> the bloomberg survey shows many economists and japan think that april of 2024 is most likely for the bank of japan to do the normalization of rates. there are also people that say there is a risk for earlier than that. i think the forecasts of boj policy is now no longer on icc operations, but short-term rates and policy rates. we think we need to...
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Nov 5, 2023
11/23
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the 1% cap will be a reference not strict ceiling was the main takeaway so in terms of these minutes bojtting the price target is not in sight yet but it is important to support momentum when it comes to wage hikes so we continue watching the communication given that in addition to flexibility we had commentary from the government saying they do not expect yields to rise much beyond 1% after earlier this year saying boj would not come close to 1% of the move we see with u.s. treasury yields has been the weakest factor with increasing concern in the markets that the boj overwhelmingly perhaps more than the fed in some aspects is the source of potential more volatility just the continued loose monetary policy adding to imbalances across asset volatility still at 149 level. coming up, and investment strategy and looking at china's economy. the market opens in tokyo and seoul next. >> this is daybreak asia and we are counting down to the major market opens. it looks like we might be off to a positive start. it will be interesting because we got a catapult in markets last week after softer jo
the 1% cap will be a reference not strict ceiling was the main takeaway so in terms of these minutes bojtting the price target is not in sight yet but it is important to support momentum when it comes to wage hikes so we continue watching the communication given that in addition to flexibility we had commentary from the government saying they do not expect yields to rise much beyond 1% after earlier this year saying boj would not come close to 1% of the move we see with u.s. treasury yields has...
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Nov 24, 2023
11/23
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there is some urgency and pressure from the boj as well.doubling down on the idea that they will not really be doing anything until the spring. that is just one thought to leave you with. another interview you do not want to miss. the slovenia finance minister. that is coming up later today. will take you through it. this is bloomberg. ♪ it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. the idea that we have saved five million people's lives, it's overwhelming. ♪ >> this is "bl
there is some urgency and pressure from the boj as well.doubling down on the idea that they will not really be doing anything until the spring. that is just one thought to leave you with. another interview you do not want to miss. the slovenia finance minister. that is coming up later today. will take you through it. this is bloomberg. ♪ it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. the idea...
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Nov 9, 2023
11/23
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we are watching boj meeting minutes because it is impacting market sentiment.was the need for policy continuity and no further changes expected in the current fiscal year to rates and the yield curve control programs so you can see the japanese yen getting close to the 151 mark. that is playing out in bank stocks because we have seen investors start to temper expectations of some sort of policy pivot from policymakers and you see the japanese bank index is dropping off somewhat so stocks down 5% on that index yesterday in the session and still extending today so lots of focus on and we did not really get to earnings as well. shery: arm really reflected the disappointing earnings we got in their first report since they are ipo and the stocks falling in the after hours session and the sales forecast did it. the company is contending with the smartphone's lunch -- smartphone slump. peter elstrom joins us. how concerning were the numbers put out by arm? >> i think you described it exactly right. the results for the last quarter were actually pretty good. revenue wa
we are watching boj meeting minutes because it is impacting market sentiment.was the need for policy continuity and no further changes expected in the current fiscal year to rates and the yield curve control programs so you can see the japanese yen getting close to the 151 mark. that is playing out in bank stocks because we have seen investors start to temper expectations of some sort of policy pivot from policymakers and you see the japanese bank index is dropping off somewhat so stocks down...
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Nov 21, 2023
11/23
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to a point and then it is up to the boj? richard: that is a good way to put it.luding this year, it has been exclusively about u.s. yields higher, running toward 5%. dollar-yen's move was very close. the upside pressure in yields has dissipated eerie the upside pressure on dollar-yen has dissipated. at the end of the day we don't think we will be cutting rates anytime soon. it is hard to see u.s. yields coming in dramatically lower, so that's going to limit the downside for dollar-yen. the more meaningful multi-month move lower in dollar-yen will ultimately need to be ushering in or nurtured by a boj moving meaningfully on policy. we've seen incremental steps this here around allowing the 10 year to move more flexibly. at the end of the day jgb's have only risen from 0.5% to 1%. even when they condensed rate hikes we are talking about negative rates toward zero. nonetheless it is progress in that direction. where the boj to move toward a more concerning stance of removing policy accommodations such that the policy rate went well above zero, jgb yields went up 20%
to a point and then it is up to the boj? richard: that is a good way to put it.luding this year, it has been exclusively about u.s. yields higher, running toward 5%. dollar-yen's move was very close. the upside pressure in yields has dissipated eerie the upside pressure on dollar-yen has dissipated. at the end of the day we don't think we will be cutting rates anytime soon. it is hard to see u.s. yields coming in dramatically lower, so that's going to limit the downside for dollar-yen. the more...
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Nov 3, 2023
11/23
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aninda: the boj is doing its own thing. it is taking things gradually.e have been anticipating a dilution if not a complete removal of the framework. that is the direction in which they are headed. i keep getting asked the question from u.s. colleagues, will higher japanese yields cause japanese investment abroad to be old back somehow? no -- to be pulled back somehow? no. they have an expectation like we do. if they have a similar return expectation is we do, yields rally, and six months to nine month time by 150 basis points, a total return on u.s. treasuries could be around eight to 12%. is that enough of an attractive trade against the possibility of long and yields at 1.5% on a maturity basis? i would think so. despite the hedging costs, taking out four percentage points on a few long treasury calls for japanese investors. on a net basis, they stand to do well if this call is correct. haslinda: perhaps they realize the under appreciation of the risk. aninda mitra, thank you. they are hoping the fed is done with rate hikes, but the tightening cycle m
aninda: the boj is doing its own thing. it is taking things gradually.e have been anticipating a dilution if not a complete removal of the framework. that is the direction in which they are headed. i keep getting asked the question from u.s. colleagues, will higher japanese yields cause japanese investment abroad to be old back somehow? no -- to be pulled back somehow? no. they have an expectation like we do. if they have a similar return expectation is we do, yields rally, and six months to...
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Nov 8, 2023
11/23
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the boj governor sounding dovish when he spoke in parliament, saying that wave inflation seem somewhat weak. let's take a look at chinese stocks as well. they've been moving in between the red and green for much of the session. seem to be moving even deeper into negative territory even though we are seeing outperformance among the property developers on the back of reports that the pboc has met with some developers. separate reports saying the pboc is pledging liquidity for debt laden regions. it's worth noting that we saw the chinese offshore actually heading for the longest winning streak since july. it's giving up some of the gains now. worth knowing that amid all this note -- news flow from the pboc. kriti: a lot to digest here. those will have global repercussions in terms of how the asia story differs from that of the federal reserve and the boe. this idea of the diversion. i want to bring it back to the u.s.. one of the big talks is how much of the work that the bond market has already done for the federal reserve. a well-known hawk, the fed president of the minneapolis fed, had
the boj governor sounding dovish when he spoke in parliament, saying that wave inflation seem somewhat weak. let's take a look at chinese stocks as well. they've been moving in between the red and green for much of the session. seem to be moving even deeper into negative territory even though we are seeing outperformance among the property developers on the back of reports that the pboc has met with some developers. separate reports saying the pboc is pledging liquidity for debt laden regions....
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Nov 6, 2023
11/23
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david: the boj, the fed doesn't do anything. where do you think rates will be in japan this time next year? louis: policy rates? david: policy rates. or effective rates, whatever. louis: we are getting closer. if you look at the pressure, high yields globally, even wage growth is up. the boj is still reluctant because they say we have seen inflation going up because of cost increases but what we want to see is demand-led inflation, and a wage price spiral. they are still not 100% convinced that they see that, so they are moving in that direction but very gradually. i think one year from now, the policy rate will not be negative anymore but it also will not be highly positive. yvonne: how much does this weaker yen, 150, how much does that stoke inflation in some ways, too? louis: the weaker yen has added important inflation. is that a good thing or a bad thing? cost increases are a negative for companies. on balance we think the weak yen has been a plus for the japanese corporate sector. you see it from all the earnings reports.
david: the boj, the fed doesn't do anything. where do you think rates will be in japan this time next year? louis: policy rates? david: policy rates. or effective rates, whatever. louis: we are getting closer. if you look at the pressure, high yields globally, even wage growth is up. the boj is still reluctant because they say we have seen inflation going up because of cost increases but what we want to see is demand-led inflation, and a wage price spiral. they are still not 100% convinced that...
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Nov 1, 2023
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it was a quote that said the mlf and boj are out of sync. that is seen here in plainview because, it's even harder to find out what they are preoccupied with what the priority is. the 1% yield reference rate called the weaker yen. i would be concerned from an inflation point of view but import prices push up for the wrong reason. which i may say is transitory. but for the 1%, they jump into the market and to an operation yesterday afternoon. that is keeping the net market on edge. there is a 10 year yield option today that comes in and 1230, tokyo -- 12:30 tokyo time. the market will look at how that's received and if that encourages any further action from boj to jump in. vonnie: who are most threatening, fx traders are fixed income traders? michael: i'm an fx guy myself and i think it's easier to get in and out of the yen, is still one of the most liquid currencies from a liquidity point of view. i think that we can buy and hold the debt, when they move on policy, you don't get the chance to get your money back, you just have to write the
it was a quote that said the mlf and boj are out of sync. that is seen here in plainview because, it's even harder to find out what they are preoccupied with what the priority is. the 1% yield reference rate called the weaker yen. i would be concerned from an inflation point of view but import prices push up for the wrong reason. which i may say is transitory. but for the 1%, they jump into the market and to an operation yesterday afternoon. that is keeping the net market on edge. there is a 10...
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Nov 18, 2023
11/23
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chief said the secretary general said there is no safe point anywhere in the besieg gaza strip, this is bojrael is not going to leave the hospitals alone, because it says it has evidence that hamaz is hiding under. the hospitals, it's just the matter of time before they will eventually take over these hospitals and fighting will break out underground, but again we hear these conflicting. boards constantly and it's of course extremely difficult to not be there and to not be able to verify any of these things. what i do think is that israel is waiting for the united nations well what you were saying earlier about not being able to be there, the idf are very very controlling as even for the press and media as to who go is in and what information is being set out and they sort of you know uh take control over all of that. so that's the other reason why there isn't any evidence of anything that is coming out uh from. the show was a grab bag of weapons behind a mri machine if they're underground then what are they doing on the top table exactly very funny story take us to france and what's happen
chief said the secretary general said there is no safe point anywhere in the besieg gaza strip, this is bojrael is not going to leave the hospitals alone, because it says it has evidence that hamaz is hiding under. the hospitals, it's just the matter of time before they will eventually take over these hospitals and fighting will break out underground, but again we hear these conflicting. boards constantly and it's of course extremely difficult to not be there and to not be able to verify any of...
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Nov 3, 2023
11/23
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the boj was a big deal. this week in october have been essentially -- i was militant on the boj. if they dropped league of control, that would inject volatility into the market. the boj said, not so fast, we are going to be slow in terms of control. that reduces volume. u.s. sector, october was the first month in many months no sector had bad rates. now, we look at global divergence. we think other countries like canada, the u.k., with a transmission mechanism of lags are shorter. they are already weakening. the u.s. has been more resilient, the lags would play out as well. this divergence or u.s. exceptionalism that we have been dealing with last two years, some of that is going to go away. that hedging costs goes down and brings foreigners overtime back to the treasury market. jonathan: you said the bar for hikes got higher as the bar for cuts got lower? >> i do not think so. i think the fed is traumatized by what happened in terms of inflation. i think they have lost credibility. the bar for cuts is high.
the boj was a big deal. this week in october have been essentially -- i was militant on the boj. if they dropped league of control, that would inject volatility into the market. the boj said, not so fast, we are going to be slow in terms of control. that reduces volume. u.s. sector, october was the first month in many months no sector had bad rates. now, we look at global divergence. we think other countries like canada, the u.k., with a transmission mechanism of lags are shorter. they are...
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Nov 7, 2023
11/23
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the bank of japan of course, that yield gap between the boj and also the fed has been a key watch over. waiting to see if there's any sort of data or enough data for the bank of japan to justify a shift away from its easy policy settings. one data point to note this morning was pay growth strengthening for the first time in four months. but the real analysis coming through on that is the gains are still likely to fall short of the pace the boj really wants to start to see before it can pare back any stimulus. stocks wise, you can see the naked coming online, .6% to the downside -- nikkei coming online, .6% to the downside. in the korean session, the equities picture, with weakness coming through, but keeping in perspective -- keep it in perspective as well, yesterday we saw a standout session for the kospi led by regulators in korea deciding to put a complete ban on short selling. we are watching some of those stocks, the most shorted stocks. otherwise, a focus on the korean won, we are trading close to the 1300 argument though some analysts -- the 1300 mark. although we have seen some
the bank of japan of course, that yield gap between the boj and also the fed has been a key watch over. waiting to see if there's any sort of data or enough data for the bank of japan to justify a shift away from its easy policy settings. one data point to note this morning was pay growth strengthening for the first time in four months. but the real analysis coming through on that is the gains are still likely to fall short of the pace the boj really wants to start to see before it can pare...
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Nov 13, 2023
11/23
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yields have paid and are going to come down and the boj is gradually moving toward policy normalization, that undercuts the fundamental set up for a significantly weaker yen from here. i think there is a little bit of picking up pennies in front of steam rollers when it comes to betting on further yen weakness and that's making traders very willing to pull back rapidly if they think they are risking getting squashed. vonnie: garfield, thank you. our chief rates correspondent. news surveys and data on the chinese economy show both the consumption rebound and private is this confidence continuing to lose momentum. let's bring in our chief northern asia correspondent. what exactly are these alternative indicator showing? stephen: what official data has shown but in more granular terms. october was supposed to be a month generally win consumption picks up. it has that big weeklong holiday at the beginning of october, where people go about and spend, give gifts and have banquets and the like, it looks as though consumer consumption is losing steam. that's what these surveys are showing. also
yields have paid and are going to come down and the boj is gradually moving toward policy normalization, that undercuts the fundamental set up for a significantly weaker yen from here. i think there is a little bit of picking up pennies in front of steam rollers when it comes to betting on further yen weakness and that's making traders very willing to pull back rapidly if they think they are risking getting squashed. vonnie: garfield, thank you. our chief rates correspondent. news surveys and...
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Nov 21, 2023
11/23
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nothing to do with boj, it is dollar weakness.reating a boost into gold. 1992 and the precious metal is higher, a theme that flows around the world. checking in on asian markets, april hong is standing by. walk us through the narrative? april: do not see the nikkei on the board but that is because of light strength against the greenback. it is infotech among outperformer's. taking a look at chinese property developers, stocks and bonds rally on the news that chinese authorities are drafting a list of developers that will be eligible for funding. this would be in the form of equity and debt financing and bank loans. this is the latest in a slew of support measures. bloomberg intelligence points out that support measures look similar to plans that were laid out in november, a 16 point plan which was not effective as it failed to avert the default of country garden. we've seen market reaction but we have to see how it filters through into property names. looking at chinese currency rallying on the offshore and onshore to a three-mont
nothing to do with boj, it is dollar weakness.reating a boost into gold. 1992 and the precious metal is higher, a theme that flows around the world. checking in on asian markets, april hong is standing by. walk us through the narrative? april: do not see the nikkei on the board but that is because of light strength against the greenback. it is infotech among outperformer's. taking a look at chinese property developers, stocks and bonds rally on the news that chinese authorities are drafting a...
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Nov 19, 2023
11/23
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not trying to rock the boat to much with monetary policy and his choice of a boj governor.g the same kind of move in two directions signaling long-term fiscal sustainability. in the near term, lots of stimulus. that is very similar to the abe way. keisha is doing -- print minister kishida is doing many of the things abe did. things are not really headed in the right direction. there's definitely a sense of is there anything new? is there anything different? is there anything i minister kishida is doing that will -- shery: prime minister kishida promised under the slogan of the economy economy economy he would prioritize the economy above everything else. it seems the japanese may not be feeling positive about the state of things at home. how has the continuing weakness of the japanese yen at a time when inflation is at play affected the everyday japanese person right now? >> it has been a consistent weight upon kishida's approval. the weak yen. it is not quite at the same boom for the japanese economy it was in the past exporters have moved so much manufacturing offshore th
not trying to rock the boat to much with monetary policy and his choice of a boj governor.g the same kind of move in two directions signaling long-term fiscal sustainability. in the near term, lots of stimulus. that is very similar to the abe way. keisha is doing -- print minister kishida is doing many of the things abe did. things are not really headed in the right direction. there's definitely a sense of is there anything new? is there anything different? is there anything i minister kishida...
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Nov 3, 2023
11/23
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shery: when the boj moves, would that change your calculations? >> absolutely.e upside risk to u.s. yields. i talked a little bit about fiscal policy. that's the supply picture. on the demand side, you have the fact that any boj moves are likely to be negative for u.s. yields as japanese investors bring their money home to some extent. they've been a long and consistent support at the long end of the yield curve, the u.s. yield curve. that certainly reemphasizes why we think the move over the last few days is likely temporary and overdone. shery: good to have you with us, executive bp and ceo of franklin templeton fixed income. we have more to come on daybreak asia. this is bloomberg. ♪ >> we still see the risks to inflation being on the in -- upside at the moment. it's important for that message not to get lot. if the market has taken of you that we are leaning towards more cuts, i will lean to the upside. haidi: andrew bailey pushing back on market expectations, 75 basis points of rate cuts are going to come through next year after keeping policy on hold. it w
shery: when the boj moves, would that change your calculations? >> absolutely.e upside risk to u.s. yields. i talked a little bit about fiscal policy. that's the supply picture. on the demand side, you have the fact that any boj moves are likely to be negative for u.s. yields as japanese investors bring their money home to some extent. they've been a long and consistent support at the long end of the yield curve, the u.s. yield curve. that certainly reemphasizes why we think the move over...
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Nov 7, 2023
11/23
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yvonne: the boj, interesting lines -- do we push back the boj until next year? mark: the yen is the big dilemma for japan. pushing toward the high levels we seen recently, japanese authorities have to decide at what point will they try to finally draw a line under the yen and say enough is enough? if you look at korea, the korean won is way too strong against the japanese yen. it went to levels yesterday, the strongest since 2008 and that will clearly impact on korean exporters, against the yuan as well. other countries will be concerned with what happens with the yen. the bank of japan may do something. they passed at the last meeting but they can't keep on doing that. eventually they have to say it is our responsibility as well. i could see a situation where before year end we get cultivated action. bank of japan does tightening, and everyone says ok, that is it, from here on, the yen gets stronger. rishaad: by how much, though? i want to get a sense of the consistent, to and fro, people thinking the fed is done, etc.. the point being it is data dependent but
yvonne: the boj, interesting lines -- do we push back the boj until next year? mark: the yen is the big dilemma for japan. pushing toward the high levels we seen recently, japanese authorities have to decide at what point will they try to finally draw a line under the yen and say enough is enough? if you look at korea, the korean won is way too strong against the japanese yen. it went to levels yesterday, the strongest since 2008 and that will clearly impact on korean exporters, against the...
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Nov 30, 2023
11/23
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we have seen insulation persistently -- inflation a broadening above the boj's target. .normalization coming through. additionally, if we see the yen continued to strengthen as the dollar continues to weaken, that is a headwind for earnings and for japanese equities. so we are neutral on the market. we see investors are underweight and have a relatively low exposure to the market, so we are recommending broad diversification and getting to a neutral type of exposure, but we aren't necessarily, positive on a 12-month time horizon. haidi: alex wolf, head of asia investment strategy at j.p. morgan private bank. really great to chat with you. . that look at some of the market movers. organized labor staying in the headlines as one of the big themes. we are seeing moves in the automakers in this part of the world? annabelle: is not really translating across in the session, but it is worth pointing out because as you said, that organized labor union is staying in the spotlight. u.a.w. looking to capitalize on its recent contract victory. when they have done is said they are lau
we have seen insulation persistently -- inflation a broadening above the boj's target. .normalization coming through. additionally, if we see the yen continued to strengthen as the dollar continues to weaken, that is a headwind for earnings and for japanese equities. so we are neutral on the market. we see investors are underweight and have a relatively low exposure to the market, so we are recommending broad diversification and getting to a neutral type of exposure, but we aren't necessarily,...
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Nov 15, 2023
11/23
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really getting some breathing room for the boj as well, but, yes, it is stocks and bonds that have all been up here. asian effects also catching massive tailwinds, the biggest move lower we have seen for the dollar all year, really. for more, let's bring in our chief asia correspondent. walk us through all that. take your pick, what is top of mind for you? >> top of mind for me is the fed and expectations. they tell you they will cut rates, move fairly rapidly to cut rates in the first half of next year. market has declared for the fed that inflation has been tame even though it is still running at 4% year on year on a core basis. there may be some concerns that the position it's being put on after that could unwind at some stage. however, what's really happened is that the bar has been raised very, very high for the sort of shocks that would lead to that. whatever the fed says now, the market is sure what it will do is what the bond market has been betting on since at least a year ago, which is that it will not give in to cutting rates rapidly. david: let me ask a direct question -- m
really getting some breathing room for the boj as well, but, yes, it is stocks and bonds that have all been up here. asian effects also catching massive tailwinds, the biggest move lower we have seen for the dollar all year, really. for more, let's bring in our chief asia correspondent. walk us through all that. take your pick, what is top of mind for you? >> top of mind for me is the fed and expectations. they tell you they will cut rates, move fairly rapidly to cut rates in the first...
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Nov 24, 2023
11/23
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they will be key for the boj to go towards policy normalization. we are looking at property. what do we have here? david: rate decision out. they are cutting the rates to 10% from 11. that's about 100 basis points. bank indonesia kept rate unchanged. big move out of turkey, double what was expected there. they are saying that's one -- going to be one of the last ones. we talked about thanksgiving in the u.s.. we are moving into the friday session. keep that in mind. property very much in focus. rishaad: will the banks lend? that's the thing. the interest margins, we are looking at interest margins here of about 1.74%. this is something which is on the biggest banks balance sheets. it's not much. it is and give -- doesn't give impetus to lend. that will be key. doing the government's bidding. you know, do they have the wherewithal ultimately here? it's quite something. david: then being called international services, it was midyear when chinese backed caught a lot of attention in the market as a dividend play. we've had these conversations and whether or not that remains to be
they will be key for the boj to go towards policy normalization. we are looking at property. what do we have here? david: rate decision out. they are cutting the rates to 10% from 11. that's about 100 basis points. bank indonesia kept rate unchanged. big move out of turkey, double what was expected there. they are saying that's one -- going to be one of the last ones. we talked about thanksgiving in the u.s.. we are moving into the friday session. keep that in mind. property very much in focus....
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Nov 3, 2023
11/23
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to be auger putting a large emphasis on that -- the boj putting a large emphasis on that. walk us through all can expect -- through what we can expect from payroll data and the global conversation around labor. jamie: you are right that no central bank is operating in a vacuum. they all have an eye on with the fed is going to be up to. for the fed the decision, the economy is holding a better than the case in the u.k. or europe, the euro area. we are expecting the payrolls number to come in weaker than september, 157 k. there have been huge revisions this year. strike action in the u.s. which is money in the paycheck. the value of what is going on in the u.k. is quite low. we are interested in what's going to happen in unemployment. it would be a signal the u.s. is on the brink of recession. if the u.s. economy continues to hold up really well, i agree with my colleague in the u.s. build oddly -- in the u.s. bill dudley, if the data called for tighter policy it will be central banks and if that happens, the u.s. would need that pressure to transmit. that could be a debate
to be auger putting a large emphasis on that -- the boj putting a large emphasis on that. walk us through all can expect -- through what we can expect from payroll data and the global conversation around labor. jamie: you are right that no central bank is operating in a vacuum. they all have an eye on with the fed is going to be up to. for the fed the decision, the economy is holding a better than the case in the u.k. or europe, the euro area. we are expecting the payrolls number to come in...
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Nov 20, 2023
11/23
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really went out and said we are going to short those jgb's have pulled back because it feels like the bojdiscernible] pimco nevertheless sticking with that call. that's a chart i wanted to put on your radar. a big day for the u.k. government, we look ahead to jeremy hunt's autumn statement. lost to digest there, not to mention his policy on tax cuts. plenty of analysis ahead. this is bloomberg. ♪ i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. kriti: good morning, welcome to "bloomberg daybreak: europe." i'm kriti gupta in london. openai planning to hire the former ceo of twitch, as interim ceo murati which is to reinstate the founder, sam altman. from tech to e.m.. javier milei wins argentina's presidency on a radical
really went out and said we are going to short those jgb's have pulled back because it feels like the bojdiscernible] pimco nevertheless sticking with that call. that's a chart i wanted to put on your radar. a big day for the u.k. government, we look ahead to jeremy hunt's autumn statement. lost to digest there, not to mention his policy on tax cuts. plenty of analysis ahead. this is bloomberg. ♪ i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for...
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Nov 13, 2023
11/23
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kriti: all eyes on the boj, where they are getting the influence from, is that the government story in the united states? like i said, the story seems to be at the core of what could move a lot of markets this week, is the united states facing the risk of government shutdown at the end of this week. in spite of a compromise plan by speaker johnson weaving out hard-line conservative priorities. the downgrade by moody's on friday lowered its outlook. they specifically pointed out the following. they said continued political polarization within u.s. congress raises the risk that successive governments will not be able to reach consensus on a fiscal plan to slow the decline in debt affordability. the key word being political polarization. let's bring in jill disis for more, so much to digest the last 48 hours coming out of washington. let's start with the shutdown and the stopgap bill. >> at this point, if the party for speaker johnson is just to get something in the works here, that maybe just delays actually a finalized plan. maybe that's what's in the stopgap bill, it omits spending for
kriti: all eyes on the boj, where they are getting the influence from, is that the government story in the united states? like i said, the story seems to be at the core of what could move a lot of markets this week, is the united states facing the risk of government shutdown at the end of this week. in spite of a compromise plan by speaker johnson weaving out hard-line conservative priorities. the downgrade by moody's on friday lowered its outlook. they specifically pointed out the following....
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Nov 13, 2023
11/23
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dani: the question of what happens with the fed still doing qt, what happens with the boj tweaking policyo is left to buy bonds? is that how this manifests itself, continued pressure, continued higher yields on the long end of the curve? kathryn: it's a structural issue. i think mike mckee alluded to this, not subbing that will be a debt crisis immediately, because there is no market as deep and liquid as the u.s. treasury market for those countries with enormous surpluses. china is trying to diversify into gold, but over the next couple of years, the u.s. will remain the main player, especially when the dollar remains the sovereign currency of the world. in the meantime, is political risk, such as government shutdown, causes yields to go higher, equities to go lower, then we could talk about playing political risk. but we have seen this story play out multiple times. government shutdowns is something very temporary in its market impact. kailey: markets for the time being seem much more concerned with the monetary policy path than the fiscal one because that is the more immediate concern
dani: the question of what happens with the fed still doing qt, what happens with the boj tweaking policyo is left to buy bonds? is that how this manifests itself, continued pressure, continued higher yields on the long end of the curve? kathryn: it's a structural issue. i think mike mckee alluded to this, not subbing that will be a debt crisis immediately, because there is no market as deep and liquid as the u.s. treasury market for those countries with enormous surpluses. china is trying to...
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Nov 2, 2023
11/23
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it is something you heard from the boj earlier this week as well.hey said the selling and the momentum you thought the last couple months actually led to the selloff of the jgb's as opposed to the japanese fundamentals. i will not ask you about japan, but i will ask how much that applies to the bank of england. how much are you worried about the bond read through? daniel: it is important and has already started to impact the mortgage market. we saw in the u.s. yesterday a federal reserve that signaled the most important change, was the inclusion of the financial conditions, the tightening of financial conditions and the impact that is likely to have on economic activity and inflation and the dampening effect that will have. that is why they have paused to wait and see foreign impact to come through. similarly for the bank of england, much of the impact of past rate hikes has yet to come through. we have seen that in the housing market but also elsewhere as fixed-rate debt rolls over and is remortgaged or at higher rates. kriti: a structural quirk of
it is something you heard from the boj earlier this week as well.hey said the selling and the momentum you thought the last couple months actually led to the selloff of the jgb's as opposed to the japanese fundamentals. i will not ask you about japan, but i will ask how much that applies to the bank of england. how much are you worried about the bond read through? daniel: it is important and has already started to impact the mortgage market. we saw in the u.s. yesterday a federal reserve that...
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Nov 3, 2023
11/23
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they do not rely on boj's currency policy to do well. nobody is interested. maybe the fed is done. what has been happening in the bond market is not because of the fed, it's because of a number of other exoginous issues, equal at the long end of the curve and nobody wants to take duration. it does not solve the problem whether we approach 5% on the ten year. >> there was a catalyst this week that ignited the rally. the treasury quarterly refunding. that's what got all of us going. the bearish argument, which i'm not dismissing, needs a similar catalyst. you look to the end of the year, we know geopolitical shocks are obviously a potential bearish catalyst. government shutdown, i'm not sure if that's bearish or not. >> recession is still -- you can't -- the chalkboard, you can't erase recession yet. you don't know. but there's enough period of time probably between now and whenever then is that that's why folks say there's a window for a significant move in the market. >> what's interesting this week, let's be clear, i suspect all of the economic evidence we're getting this week is
they do not rely on boj's currency policy to do well. nobody is interested. maybe the fed is done. what has been happening in the bond market is not because of the fed, it's because of a number of other exoginous issues, equal at the long end of the curve and nobody wants to take duration. it does not solve the problem whether we approach 5% on the ten year. >> there was a catalyst this week that ignited the rally. the treasury quarterly refunding. that's what got all of us going. the...
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Nov 1, 2023
11/23
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it's a perception, the dollar will sniff out whether the fed was or was not today, when you have the boj dynamics and you have what's going on, i think the dollar is going to help. >>> coming up, a wage wipeout. shares of paycom bringing the whole space down along with it. what the weak outlook could mean ahead of friday's big jobs report. >>> but first, solar edge and qualcomm. solaredge tumbles, qualcomm jumps. the numbers next. mo "stwhe.nyer refa money" until two. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. >>> welcome back to "fast money." big night of earnings movers. check out some of the stocks making monster moves after the bell. we start off with solaredge. shares getting slammed after the company missed on the top and bottom lines, posted very weak q-4 guidance
it's a perception, the dollar will sniff out whether the fed was or was not today, when you have the boj dynamics and you have what's going on, i think the dollar is going to help. >>> coming up, a wage wipeout. shares of paycom bringing the whole space down along with it. what the weak outlook could mean ahead of friday's big jobs report. >>> but first, solar edge and qualcomm. solaredge tumbles, qualcomm jumps. the numbers next. mo "stwhe.nyer refa money" until...
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Nov 13, 2023
11/23
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the boj have in the past tried to avoid a line they could beholden to.t the threshold is to cut rates which could give them a pass to move away from yield curve control. do you think it's overly ambitious to view all fed rate cuts as a good thing for risk assets? >> when you look at why the fed will be cutting rates, we are looking at a situation where drove is going to slow down but it's not going to be -- we are talking about a very soft landing and as inflation declines real rates will rise. very much viewed as the fed having that opportunity to cut rates. this is not a situation which they will be cut with growth. i don't think rate cuts are necessarily negative for the market as a whole. ♪ lisa: we have -- lisa: we have been talking about the different outlooks. td securities came out with this today saying they expect more rapid pace of rate cuts than markets do. do you agree with that? sonja: we also have the fed cutting rates as of the middle of next year. the problem we will have next year is the fed will have a certain window to cut rates and t
the boj have in the past tried to avoid a line they could beholden to.t the threshold is to cut rates which could give them a pass to move away from yield curve control. do you think it's overly ambitious to view all fed rate cuts as a good thing for risk assets? >> when you look at why the fed will be cutting rates, we are looking at a situation where drove is going to slow down but it's not going to be -- we are talking about a very soft landing and as inflation declines real rates will...
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Nov 29, 2023
11/23
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depending on what the fed does, how to set potentially impact expectations for the boj?ure it. japanese equities in u.s. dollar terms have not done remarkably well. they are up this year, but not anything close to the local currency terms. of course we could see a converse sort of relationship with the yen strengthening in the stock market being rather sluggish or even negative like futures are pointing out today. however, a stronger yen will be a tremendous relief to politicians, to consumers, to almost everybody in japan. i'm sure they're very happy to see the yen go off 150 level. haidi: so you're still pretty constructive when it comes to the top picks for next year. where do you see the new areas for focus? john: our forecasts are little bit stale. we made them in september, but for the most part, we expect the nikkei to hit about 35,000 by september of next year and the yen to appreciate a bit further than where it is now. as for sectors, i would not specialize too much and that. obviously the end is strengthening and some of the sectors that have done so well last
depending on what the fed does, how to set potentially impact expectations for the boj?ure it. japanese equities in u.s. dollar terms have not done remarkably well. they are up this year, but not anything close to the local currency terms. of course we could see a converse sort of relationship with the yen strengthening in the stock market being rather sluggish or even negative like futures are pointing out today. however, a stronger yen will be a tremendous relief to politicians, to consumers,...
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Nov 28, 2023
11/23
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given the uncertainty with the boj next year, where do you stand on japanese equities?n japan, interest rates my go up from there. there are tax benefits that were temporary for japanese savers to put money into japanese stocks. those benefits will become permanent from the first of january. that might give an incentive for people to put more money into japanese equities. but, if you look at bond yields, it's almost the opposite with china. lower bond yields, not so good for japanese equities. most are positioned already in japan and not in china. we might see some money flow from japan into china. that will be an interesting dynamic to watch. haidi: always great to have you with us. head of asia-pacific strategy at hsbc. let's take a look at the early movers with belle. >> one of the stocks is taisho farmer, the biggest over-the-counter drug maker in china. we saw shares jump at the close. the biggest we have seen in 12 years on monday. it was the first day of the management buyout. pricing the shares at ¥8,620 a piece. a big premium, compared to now. that would value
given the uncertainty with the boj next year, where do you stand on japanese equities?n japan, interest rates my go up from there. there are tax benefits that were temporary for japanese savers to put money into japanese stocks. those benefits will become permanent from the first of january. that might give an incentive for people to put more money into japanese equities. but, if you look at bond yields, it's almost the opposite with china. lower bond yields, not so good for japanese equities....
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Nov 13, 2023
11/23
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it will be a little bit volatile as we watch to what the boj is going to have set at the agenda for thee the growth prospects starting to materialize more clearly? gareth: as we have just heard on tencent, they have just come off the singles day which on the surface of it looked pretty strong. consensus -- alibaba of course -- consensus is indicating they could have tripled net income. let's keep an eye on what the margins have done and see if they have managed to keep the bottom line up as well as their top line with those single day sales. haidi: gareth allan there in tokyo. some of the other corporate headlines we are tracking this hour, boeing is closing in on a major auto deal for emirates for its flagship jet. they say the carrier is planning a high order of the plane. emirates is the biggest buyer of the jet in the deal could be a vital endorsement of boeing's newest and largest aircraft switch have struggled to pull in sales as it runs behind schedule. bloomberg has learned the turkish airlines is planning to order about 350 aircraft at dubai's annual air show. it would be a one
it will be a little bit volatile as we watch to what the boj is going to have set at the agenda for thee the growth prospects starting to materialize more clearly? gareth: as we have just heard on tencent, they have just come off the singles day which on the surface of it looked pretty strong. consensus -- alibaba of course -- consensus is indicating they could have tripled net income. let's keep an eye on what the margins have done and see if they have managed to keep the bottom line up as...
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Dec 1, 2023
12/23
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been expecting a largely unchanged as well from the prior reading, so a key indicator that we know the boj signals that he can tell us again if it -- pivot away from this policy settings, japanese yen forever against the greenback back under the 148 mark. what else we're watching is the direction for treasuries. as you said, it was that commentary that came through in the prior session for mary daly, john williams, so residents at the fed is essentially just pushing back on that market expectation that the fed is done with hikes, and a cut could be imminent as well, because we are seeing traders start to pare their wages on the size of cuts we can expect next year. let's take a quick look at what is happening in australia, the rate sensitive i.t. sector was under pressure the most. drop of 1.6%. energy the other focus given we saw opec+ issuing further supply cuts but still disappointing the market, and you are seeing crude , wti cylinder pressure as it comes online in the energy index. a little weaker, and the session today every single sub index on the asx 200 is in the red. vonnie: we a
been expecting a largely unchanged as well from the prior reading, so a key indicator that we know the boj signals that he can tell us again if it -- pivot away from this policy settings, japanese yen forever against the greenback back under the 148 mark. what else we're watching is the direction for treasuries. as you said, it was that commentary that came through in the prior session for mary daly, john williams, so residents at the fed is essentially just pushing back on that market...
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Nov 28, 2023
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the boj governor saying not enough certainty on a price goal, yet keeping his dovish tone.ou looking at? rishaad: jp morgan. the company's business in china is post to do well despite the choppy economic conditions. i caught up with the asia-pacific coo about an hour ago. on the sidelines of the bank of international settlements conference in hong kong. he talked about china, the business there, and also asia, and what it means for his institution. >> we received at the beginning of this year the final authorization to acquire 100% of the asset management company which was the last entity which we wanted to acquire full control. we have the security company, the future company and the asset management company. the business in china has been exceptionally resilient. we are there to serve our clients who are there. our customer, our supporter, our employees. the business has been remarkably resilient withstanding the headwinds. rishaad: you said in may when we interviewed you a china's slowdown was not a concern of yours. >> it is not because we are investing for the next 25
the boj governor saying not enough certainty on a price goal, yet keeping his dovish tone.ou looking at? rishaad: jp morgan. the company's business in china is post to do well despite the choppy economic conditions. i caught up with the asia-pacific coo about an hour ago. on the sidelines of the bank of international settlements conference in hong kong. he talked about china, the business there, and also asia, and what it means for his institution. >> we received at the beginning of this...
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Nov 26, 2023
11/23
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how much of that comes down to one and what we see the boj doing?icholas: i do think that the problem is much more that, here in japan, we have serious waterboarding of the consumer with high inflation. we saw the headline on friday coming out at about 3.3%. but the one that the bank of japan uses to really look at domestically driven inflation, d energy, came in at 4%. that is a higher rate, people will be plenty to look for something that generates a return. since the returns on government bonds, for example, real returns a deeply negative, that push them towards two point five percent dividend yield plus what you get from the buybacks. but you have to remember that in japan, they are awash in cash. 56% of companies are net cash. almost 40% of topix men financials have net cash. no one has a good excuse for that. so you have the osmotic pressure of cash on the well-lit forcing out buybacks and dividends, whereas in the u.s., the buybacks were being done with debt and that has been hurt by higher interest rates there. david: do you see the payout r
how much of that comes down to one and what we see the boj doing?icholas: i do think that the problem is much more that, here in japan, we have serious waterboarding of the consumer with high inflation. we saw the headline on friday coming out at about 3.3%. but the one that the bank of japan uses to really look at domestically driven inflation, d energy, came in at 4%. that is a higher rate, people will be plenty to look for something that generates a return. since the returns on government...
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Nov 8, 2023
11/23
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. ♪ shery: the japanese yen continues to weaken as the boj government speaks in parliament saying theects of why cc include fx volatility and the wage inflation cycle is still weak but he sees it gradually taking place and we have just seen wage growth strengthening for the first time in four months and what -- one of the things we be watching at the forum, the global labor market cn big changes. -- seeing big changes. haidi: i want to bring in yvonne man. you are listening to the vice president china's speech a little bit talking about the idea of de-risking being better for everyone. yvonne: it was certainly not a positive spin, delivering it ahead of when biden and president xi meet next week. talking about de-risking is not a good thing so that is a big theme here and a lot of china experts will join us in the next few hours. just (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ it's an amazing thing when you show generosity of spirit
. ♪ shery: the japanese yen continues to weaken as the boj government speaks in parliament saying theects of why cc include fx volatility and the wage inflation cycle is still weak but he sees it gradually taking place and we have just seen wage growth strengthening for the first time in four months and what -- one of the things we be watching at the forum, the global labor market cn big changes. -- seeing big changes. haidi: i want to bring in yvonne man. you are listening to the vice...
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Nov 7, 2023
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north of 5% on the 10 year yield and we were talking about budget deficits, yield curve control at the boj, a lack of editable buyers in the treasury market, a loss of that in places like china, and here we are sitting, with conviction, saying we have seen the highs in bond yields. lisa: what has changed is that the excessive short positions on treasuries have basically been washed out, and we saw some repositioning there. the treasury department came out a threw the market it bone and said we will focus our issuance on the short end. and the fed came out and was not that hawkish. that was basically the insurance policy the bulls are looking for. jonathan: they are chewing hard on that bone. s&p futures negative 12:45 percent. next hour, neel kashkari of the minneapolis federal reserve. live from new york city this morning, good morning. ♪ >> we are announcing historic investment in america's railroads. i've been talking about this for a long time. finally, we are getting it done. more than $16 billion. too many people have been left the hind, or treated like they were invisible. we are bu
north of 5% on the 10 year yield and we were talking about budget deficits, yield curve control at the boj, a lack of editable buyers in the treasury market, a loss of that in places like china, and here we are sitting, with conviction, saying we have seen the highs in bond yields. lisa: what has changed is that the excessive short positions on treasuries have basically been washed out, and we saw some repositioning there. the treasury department came out a threw the market it bone and said we...
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Nov 2, 2023
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scarlet: every time there is a boj meeting there is a report the day before that hints what's going tohe new communication method of the bank of japan? tom: i have personally witnessed it in tokyo and it is bizarre. usually happens our time, sunday night, 7:00 p.m. you are trying to come out and get ready for rangers hockey on sunday night. the bank of japan has signs of a change. get your radar upon that. we will get a briefing on what's going on with what we witnessed yesterday from the fed with daniel morris, bnp paribas paris . i was thunderstruck yesterday by the market move, the energy of it. wasn't just a short cover were 70 people were gloomy and had a -- so many people were gloomy? daniel: i don't know if i would characterize the sentiment as gloomy. we are still trying to reassess and absorb the shock of what is happened in interest rates -- what has happened in interest rates in the last three months. i think for a lot of people the narrative is still in place. i think at this point you could maybe find a bit more optimism than you had before looking at six month ahead, 12 m
scarlet: every time there is a boj meeting there is a report the day before that hints what's going tohe new communication method of the bank of japan? tom: i have personally witnessed it in tokyo and it is bizarre. usually happens our time, sunday night, 7:00 p.m. you are trying to come out and get ready for rangers hockey on sunday night. the bank of japan has signs of a change. get your radar upon that. we will get a briefing on what's going on with what we witnessed yesterday from the fed...
SFGTV: San Francisco Government Television
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Nov 18, 2023
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and as we met as there was a small committee comprised of the superintendent, commissioner boj's, commissionera wiseman ward, and also commissioner sanchez. and we reviewed the 71 applications in that review process. the applications were masked. neither the superintendent nor commissioners could see the identity of the individuals, but instead just the information that folks submitted on their applications, including the seats that they self identified as being appropriately qualified for, as well as other personal background information in the conversation around the selection and recommendation of the committee members, there was an emphasis on trying to make sure that the composition of the committee to the extent possible, given the application pool rather resented as ucsd's community and particular making sure that the geographic zip codes where most of our students come from were represented, invented as much as possible in the committee. and you can see in our proposal we have named in the staff report 11 different committee members all of whom have been contacted and confirmed their w
and as we met as there was a small committee comprised of the superintendent, commissioner boj's, commissionera wiseman ward, and also commissioner sanchez. and we reviewed the 71 applications in that review process. the applications were masked. neither the superintendent nor commissioners could see the identity of the individuals, but instead just the information that folks submitted on their applications, including the seats that they self identified as being appropriately qualified for, as...