haidi: good morning. i am in sydney. sophie: we are counting down to the major market ocean -- open. shery: the top story this hour. the pboc says china can contain the risks from ever grand but they blame some mismanagement and overexpansion for slowing the economy. haidi: estrella has a travel

bubble with singapore as victoria will add its pandemic lockdown this week. shery: raking in the big box. they see their megahit show " squid game" rat -- rake $900 million. this of course after the s&p 500 since they had the best week since july. after we had mixed date at when it comes to those friday numbers. beside drop in consumer sentiment but the market is focusing on better than australia -- better-than-expected numbers. we saw investors focus on the positives including the strong u.s. earnings season report. the dollar loss ground for a third consecutive session. unchanged at the moment. we are seeing some risk on sentiment. they are extending the gains to .8%. close to that 83 per dollar --

$83 per barrel. fourth-quarter stockpile seen as falling to one million barrels a day. take a look at the treasury market. the 10 year yield rose above 1.57% last week. this of course, exciting that trend after hitting that 163 level for the first time since mid june. what caught our attention is the two year yield climbing to its highest since february of 2020. the short end of the curb has been under pressure. we have the fed minutes last week raising uncertainty about the taper timeline. we are also focusing on the steep of the curb. we see them losing ground, falling momentum in favor of a flat. keep an eye on those corporate credit markets. we have high-grade sales of about $20 billion that could be on top. this after the bank of america morgan stanley sold bonds after

strong earning results as well. we are very much focused on what is happening with the inflation picture when it comes to perhaps consumers coming back and boosting the economy. that consumption fueled boost. we may not be quite there yet. we know there are trillions of dollars in savings stash away during the pandemic but when we saw the latest numbers, extra saving in these bank balances declined only marginally so perhaps, this gives a clue that inflation might not be that permanent as expected if consumption doesn't also come back rolling. haidi: talk about the huge gap we continue to see between what investors are seeing in the economy, what consumers are seeing, right? different outlooks there. that pent up spending could come back as we see international travel resume. to that point, we are hearing australia is in these talks.

or advancing talks to establish a quarantine free travel bubble with singapore. austria is part of the first round of that green travel lane with singapore. heard from the trade minister saying they want to see them to travel to austria by christmas. that can make a huge impact for people who have not spent on their overseas holidays for the past two years. shery: it wouldn't be the start of the week if we didn't address ever grand concerns. it might be a bit in the background in recent days but the pbc -- pboc raking it sounds on the ongoing crisis with the developer in china. the governor saying this will not spread. this is a controlled risk that is not systematic. interesting that they say it cast a bit of concern there. haidi: they also spoke about expectations from monetary policy and liquidity, right?

relatively stable is what we are aiming for when it comes to these conditions. this prompted goldman sachs to not see that rrr cut. they see the pboc using these target monetary policy tools to keep that level of liquidity in the economy stable. shery: those scroll shocks will factor into a huge day on the economic front for china. let us bring in kathleen hays. we are expecting a deceleration in growth in the third quarter. anchor: we sure are. it is been a perfect storm of negative things for china, hasn't it? it will hit china's gdp. third-quarter gdp, we will see a couple of hours from now. but us look at a bloomberg chart. it will show you the estimate. gdp was at 7.9% year-over-year in the second quarter. now it is expected to drop to 5.0%. it is a good rate but quite a

deceleration. when you look at things like ever grand and property developers spillover, hitting the economy confidence. when you look at the energy shortage, commodity prices, everything is hitting hard. there other hard reports. the pmi for manufacturing fell just below 50 with signaled growth and contraction at 49.5 in september? it fell from 5.3 in august. retail sales is a bright note. higher year-over-year from 2.5 in august 2 over 3% in september. the containment of the virus, the easing of the lockdown is what has helped consumers. their asset investors seem to be slowing to seven point 8% yearly in september but overall, speaking in washington, a group of international banking event saying he expects the economy to grow 8% in 2021.

he does admit that it faces some challenges. haidi: they've interestingly broken their silence on the ever grand crisis. everyone has wondered about the broader economic impacts. anchor: i entered my question precisely on this question. do you think you can avoid systemic risk? can you control this? basically he said it is a bit of a concern but we are sure we can contain it. let us listen to what he said. guest: i think overall, we can contain the ever grand risk. first, we try to prevent the contagion from ever grand into other real estate companies. second, we try to contain the risk for the financial sector. anchor: we still don't hear any sort of bailout for ever grand or its property developers. their interest of bondholders

and shareholders will be respected. they will get their seniority treatment that will help out consumers and homebuyers. he wants to make sure that people who have already purchased homes, those are constructed, a lot of questions but he is expressing some confidence that is " under control." haidi: a lot of questions when it comes to the resumption of travel. we note that this travel bubble is supposedly, these discussions are rapidly happening. we have an idea of a timeline? reporter: no, we don't. rapid comes up a lot. this is under rapid development. he had a meeting with the singaporean health minister on friday as well. the key to this will be an international vaccine passport. this is moving quickly indeed. that will be rolled out from tomorrow. it will not only contain personal details or vaccination

status, a qr code as well. the government ensuring people that the information on their certificate will be as secure as the chip and australian passport. shery: at the moment, they apply to fully vaccinated australians. when will australia reopen two skilled workers and tourists? reporter: the new south wales premier jumped the gun on friday when he said new south wales would be open from november the first. the primary the stir -- prime minister said that will just before fully vaccinate it australians to travel and return. we got more detail from the health minister as well. the next stage will be priority visa holders and students getting them back into the country and then the third stage will be welcoming back international tourists. as haidi mentioned before, he wants tourists backed by christmas so it all seems to be moving fairly quickly. haidi: full speed ahead.

let us get your preview of what we have got in store for us when it comes to the start of sydney trading today. sophie: from australia, we have the minutes on tap on tuesday. ahead of that is australia pushing with the reopening pans. we are seeing the aussie yield curve with a high level since -- highest level since february 2020. we have the aussie do -- dollar holding over 70. you can see she and all he sees it by 85 in 12 months with strong commodities prices also providing support. switching up the boards. checking on new zealand markets. after we got inflation data which came in at 4.9%, much faster than expected which could underpin that for a november rate hike. if the covid outbreak worsens or job creation slows, that could have them reassess the tightening cycle which could limit gains for the kiwi dollar but we are seeing it on the

backs of the cpi, holding above 71. we had the new zealand 10 year yield up this morning as well along with other fields. flipping the board, checking on what is going on ahead of the opening in tokyo, negate futures are climbing. in -- will keep a close eye even after a cut by 50% on the hit two parts manufacturing in east asia. checking on the offshore yuan. we see holding beyond 643 after it hit a four month high after a 642 level last week. we are waiting on more details about the stellar bond sales, shery. vonnie: china will sell dollar global bonds for the fifth straight year. attracting more scrutiny amid the ever grand crisis. mr. of -- mr. finance was a 4

billion in offers that is one third less than the $6 billion in the last two years and the least since 2018. the issuance of be a four-part deal comprising 3, 5, 30 year materials. andrew bailey has bolster the case for raising interest rates. speaking to an online panel organized by the group of 30, the central banks will have to act to curb inflationary forces and warned that higher energy prices will linger. traders are betting that the boe will raise rates in the final months of 2021. >> the energy stored means it will last longer. it will of course get into the annual numbers for longer as a consequence of that. that rate is for central banks. there is concern over expectations. we have bank of england are taking this as another such signal. that action comes in our reports and meetings. vonnie: more gridlock as the

pandemic era supply shocks intensified. the fourth congestion tractor deck -- tracker shows 100 ships wedding off of hong kong. the tightening worsens as a typhoon brushed by hong kong. 77% of ports are experiencing of normally long times to turn around traffic. japanese prime minister has made an offering to a controversial war shrine, angering china and south korea. only weeks after becoming the leader. ap says he donated religious ornaments to mark the shrine autumn festival. the tokyo shrine honors millions of japanese war dead including 14 men convicted of 14 a war criminals after world war ii. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg.

haidi: still ahead, the australian chamber of commerce ceo talk to us about australia's reopening plan under revival of torres on. the market outlook from ig market. the fed will make or break the market. big interview up ahead. jd logistics is trying to grab the biggest share amid the supply chain issues and economic recovery. >> i hope investors pay more attention to our revenue growth. that is evidence to show productivity. haidi: we will bring you more from that conversation in a couple hours time. 10 past 10 in sydney and 10 past eight in hong kong. this is bloomberg. ♪

haidi: let us take a look at the week ahead. major eco-data is coming up in the next few days. the september activity data is two in a few hours time. we have more of a preview on that in a second. ever grand facing another $19 million payment on tuesday although the p -- pboc has broken their silence. the risks are controllable. on wednesday, u.k. inflation data showing easing of prices despite surging energy costs while the eurozone cpi will likely confirm price pressures are the highest since 2008. speaking with the eu leaders will take that into account at the summit in brussels. vonnie: sophie: it is a big day on the data front. they will confirm a sharp deceleration in growth amid shocks from the energy crisis to delta variant outbreaks. still, over at goldman sachs, we no longer expect the pboc will cut the required ratio this year

after they rise to keep the could be conditions stable. shery: big tech earnings kick off with netflix. their latest megahit ," squid game" will have $900 million in value. analysts are expecting tesla to turn in its tense consecutive profitable order on the heels of its first billion-dollar one but there chip shortage looms that is your week ahead. those supply chain fears pulling into the inflation relief. a quicker path and steeper trajectory of fed tightening could derail markets and suffocate the global recovery. let us bring an ig group market analyst. always great to see you. we have saved marcus's -- markets -- seen markets more positive over the data last week. are we over looking the tensile

for stagflation to materialize? --the potential for stagflation to materialize? guest: i think what we have seen over the last couple days is that sentiment got quite bearish. we saw investors becoming negative on stocks since the u.s. election last year. past anytime before the pandemic what they were worried about, where evaluations were and where growth was in the context of monetary policy tightening. inflation pressures could draw it. or the markets are feeling reasonably emboldened by the fact that we will see reasonably robust results from the second quarter from a narrative point of view to buy back into stocks and buy that dip. the longer-term issue remains with the global supply shock brought upon by the pandemic. pressures coming from that. the very fine line they are

walking to taper down inflation risks. shery: can consumers lead a market surge or recovery that can be sustained would we have seen so much money stashed away during the pandemic but not necessarily being spent? we are seeing this function on the bloomberg tracker that show surprises and eco-data. we are doing good on personal and household spending. i wonder if this is sustained. they are not necessarily opening up their wallets as of yet. when can we see that change? >> guest: i think it is a slow burn. we will see consumers over time eat into their savings and sustain the recovery going forward. we know that consumers are reasonably strong or reasonably strong because all the stimulus

that has been provided for them since the start of the pandemic. u.s. labor market is improving and able -- reluctant to go back into work. people feel wealthy because how selling is going up and shared portfolios are going up as well. there are these other indications that on the demand side, things are solid. more stimulus from the u.s. government that can sustain that dynamic good what is concerning is that over time, we could see productivity diminish as a supply-side issue crimps businesses. and slows down their ability to higher, create jobs in the longer-term, sustain that demand. if there's any short price rises in the could be a factor in crimping these going forward and there could be a cause of reassessment of their policy outlook going forward. to me, demand is a slow burn. as they run down their savings,

they will be a robust labor market and we will hit the ceiling because we have this supply-side disruption and keeping the global economy, not working it at full capacity and that is the longer-term risk. haidi: i want to throw out this preview it when it comes to the gdp. looking under the hood, we know the retail sentiment aspect that the chinese consumer is underperforming. there is the multiple confluence of crises. the ever grand and energy inflation crisis as well. what are your expectations from china? is that diminishing expectation of growth from china something that the markets are not really worried about but perhaps should be, ongoing? guest: it will be more worried about it as time goes on. what we are seeing is china is tended to rely on an old and tried method to sustain its growth. we are seeing the wages.

we have seen developed economies that can't get enough of chinese goods and demanding very strongly there. that is sustaining things in the short-term. the big thing is a structural shift. we won't be able to see why over the months and years as they try and restructure their economy. obviously, trying to contain the issues when it comes to their financial market. there will be a major driver of some of the growth which is construction activity that might take a hit because of the slowdown in the property market that will have an effect on consumers going forward. causing a vicious cycle for the economy. it is a big weird -- red flag. china's economy will look like it will be slowing down.

it will be prioritizing social issues. haidi: does that mean in terms of domestic australian market, the reopening trade is a focus at the moment? guest: it is much more of a focus. obviously, we are stemming from trade. we talked about the are in or price being off its high but historically, it is quite elevated to $130 at the moment. we are seeing that expert driven growth good domestically, it is about taking that pent-up demand built-up over the last couple quarters. with new south wales and victoria being under lockdown. it will be a slow burn with the economy. we had a pear-shaped reopening because we were covid 04 six months last year which meant we were free to roam around and the economic agents as you would in normal circumstances. this will be a slower ground -- grind.

we'll have virus in the community as we did in other parts of the world. it will be a flutter recovery here than what we experienced last year. haidi: always great to have you with us. we do have lots more to come on daybreak australia. this is bloomberg. ♪

haidi: let us take a look at the day ahead for australia and new zealand. there reopening plants continue to be in focus as we mentioned at the top. talks are underway. rapid talks for a travel bubble with singapore. on the corporate front, they are among the short list of bidders to buy the super stake.

they are calling for an economic plan for covid admissions ahead of this. with see if that translates into policy and have a formal goal. inflation showing up in new zealand. surging to

haidi: australia is in talks over a travel bubble to singapore for fully vaccinated villa were -- vaccinated people to travel. melbourne will be emerging this week from its latest lockdown. let us discuss the outlook who is a ceo of the australian chamber of commerce. great to have you with us. we had a few days of freedom here in sydney. there is optimism in the air. how much of the recovery does rely on the ability of

international tourists to return? guest: that is absolutely critical. our tourism industry has been flattened in the pandemic. the critical thing now is to make a pathway to begin to open up. we have the first signs of that so certainly, i move to allow australian citizens to come back in in the coming weeks either with no quarantine or minimal quarantine. this is the first step. i think we saw on friday, the primary signaling the willingness to scrap quarantine altogether. that is a step we have to get to at some point in the coming months. the first step is essential and that is moving to a more flexible system of quarantine, opening up to australians who

are overseas or rapidly cutting them back or very quickly, opening up to tourists, international students and to skilled migrants. these are all critical areas for his new is. haidi: how damaging will it be to not have that piece of the chinese consumer? the chinese traveler? guest: these are all important markets. at the moment, it is essential that we find a pathway to open up. our first up with countries like singapore will be very valuable. there are many important markets. china, korea, japan, india, all these markets which we have to get access to in the coming months. we have to find a pathway to do that. that is absolutely essential from here. shery: how are businesses dealing with the lack of foreign labor. is this an issue?

guest: absolutely. still shortages in the market. as severe as they have been in the past two decades, it is right across all sectors. a huge number of professions so whether that is the health sector which is an obvious one. teaching i.t. jobs, engineering jobs, construction jobs, all these areas. mechanical engineers etc. etc. there are a lot of areas where we have shortages at the moment. really, the only way to begin to address that rapidly would be to have access to migrants. normally, in the past few years that has been 120,000 people coming in. we need more of that in the next few years. shery: as australia edges closer to reopening, what does that mean for covid payments to not just support businesses but

individuals? how should those be phased out? guest: clearly, if the economy ounces back strongly, it will be possible to phase those out. i think what we would say is given the uncertainties in timing here, this should be done gradually. we don't want to chop business off at the knees. you can't pick a switch and restart. we are starting to see opening up in new south wales, the tory a, but that may take some weeks for businesses to get up on their feet and get stuff back in and get fully open it would gotta take it gradually. we cannot make it more difficult than needs to be. we got take it one step at a time. haidi: is there adequate preparation for businesses and services should be handling this phase of the reopening? if we take a look at the case numbers in the u.k., for

example, large parts of the u.s., it will probably be a surge even with high levels of vaccinations. our business is prepared with a blueprint as for how they should react to that? guest: i think many businesses have been preparing. they want to get open again and look at all the signs that there are quite good resilience there across most of the businesses but of course, the more time we got to plan, the more flexibility. one has to understand that it is really reasonable endeavors from businesses point of view to work with the rules in place. i think if we can have a common set of rules across different states, this will help. government coordinating with businesses, trying to work with a more or less similar plan across the country. all of those things will help

with the reopening to make that more rapid. to make it smoother for business and get people back to work, back in the shops and going about their business before the end of the year. haidi: you talk about across the country and different states. we are in a situation where we will probably be able to go to london, l.a. or new york before we get to wa or queensland. do you think it is time to open up domestic borders? how does that happen given the divisions we see and how covid and delta is handled. ? guest: that has to happen. clearly this dates or its queens and, south australia, tasmania, they got a booster vaccination rates. we understand that is important. there has now been enough time for that to occur. we are seeing how it has accelerated in new south wales.

we see how it is accelerating in victoria. let us not be complacent. we got a push out and get those vaccination rates up. we want to manage the health impacts. covid will get into those states at some point. it could be tomorrow, next week or next month or the more prepared they are, the better it will be. don't take a day off to see how this plays out. we gotta press on and keep going to get those vaccination rates up. shery: good to have you with us. ceo of the australian chamber of commerce and industry. less get to the first word news with vonnie quinn. vonnie: insulin inflation jumped more than asked -- expected, faster rate than 10 years. the central bank will keep raising interest rates. it surge to four point 9% from 3.3% in the previous period. they want to keep inflation

around a 1%-2% target down. pboc says they can contain risks to the chinese economy from the ever grand crisis. the cash crunch is spilling over to other developers at the present maintains a strict measures to cool the property markets. a virtual g 30 meeting said they can keep systemic risks from happening. >> we can contain the ever grand risks. first, we try to prevent the contagion from ever grand into other real estate companies. second, which i to contain the risk for financial sector. vonnie: hong kong primary listing market is going three dry patch and what is normally the busiest part of the year. several billion ipo's let their applications lapse through regulatory weakness. they include supermarket owners

and health care start up we doctor. it dipped to $6.2 billion behind south korea for the first time in four years. myanmar's military leader will be barred from a inning later this month. this the biggest rebuke since a military toppled their civilian led government. the ted members southeast asian block has been under international pressure to force member state myanmar to hold subsequent violence that has killed 1100 civilians. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn it. -- quinn. haidi: they will say smaller than expected budget deficit over a recovery in the nation our conversation is just ahead. this is bloomberg. ♪

>> the worst of the viruses impact on the economy is likely behind us but we obviously, have inflationary pressures, particularly on wages. we have an active debate around infrastructure spending and fiscal spending in washington, potential tax increases. we have eight complex dynamic

with u.s. and china. there is still some uncertainty around the delta variant. haidi: goldman sachs ceo on the headwinds for the markets. shery: it is time for morning calls. what are you watching? sophie: among those headwinds, supply chains front and center. at jefferies, they staying bullish on the energy sector. there will be revisions as well as strong cash yields there given the energy shortages are stretching not only from construction but power generation with seasonal demand pull factors working with the inter-elasticity of energy supply. they are considering how to navigate the supply shocks being accompanied by a rise in oil prices and currency oil ada's, especially from exporters. goldman sachs calculates that a further 10% jump in oil prices

will be associated with a appreciation of oil linked courtesy -- currency. shery: goldman out with another call over the weekend china will not resort to cutting its reserve ratio to support growth. we will be speaking with the chief asian economist in a couple hours time. haidi: indonesia is the second southeast asian country after singapore to impose a carbon tax. there is criticism that the rate is too low. the finance minister told bloomberg that the country must impose a tax cautiously to avoid hurting the economic recovery. >> our revenue increase coming from this tax reform is definitely for the budget opposed -- proposal. during this covid situation, the astra -- extra spending is perhaps significant we have to scale up the social safety net

as well as support for the business and others to recover. we also continue building infrastructure which is required for indonesia to stay competent. and protective -- productive in this case. all comes to the general spending. we need to pay our ties for the government at this moment, human capital, education, and health. social safety nate -- net, and for others, we call it transition for the green economy in indonesia. that will be very critical for indonesia to be able to recover in a much more green and resilient way. anchor: i am glad you bring up green economy. indonesia has introduced a carbon tax even if it has been criticized to be too small to critically curb emissions. how will you ramp up the carbon tax rate that expands it beyond coal powered plants over the

coming years? guest: i think you really have to appreciate among the emerging companies, indonesia has been progressive. not only first, honoring our commitment to reduce co2 according to the paris agreement but at the same time, we are working together within the financial coalition and ministers to make sure that this commitment can be delivered. financing is very important. within that context, we introduce the carbon market. in this case, if you look at the composition of which sector can contribute reduction of co2, to factors spent out. for three and it -- force three -- forestry and the energy

sector. we can deliver on the reduction. and also from the global green commitment. the carbon tax that will be introduced last week that we just passed will be a one additional important instrument. it is not one only instrument. the instrument we will establish , we have to start very in this case, carefully that we do not want this very -- recovery from the covert and have policy measures that can weaken this recovery. in this case, the carbon market as well as carbon tax will be implemented in a very mindful way so that it can be then, build the capacity first, build the credibility of the

mechanism. testing the regulation and then, it will hopefully create a resource or revenue or financing which can create the transition to a cleaner, mix. as of now, we focus still on the coal-based power sector. we as a dominant one from indonesia. this doesn't mean it will stop there. we gotta be mindful of the implementation of this instrument given that indonesia is in the early states of the recovery because of covid. haidi: speaking to us earlier. coming up next. it is still in game of life and death gives f looks a big one. how much they can be worth to the streaming giant up ahead. this is bloomberg. ♪

haidi: shery: latest on the hit show "squid game," it will create $900 million in value for the company. we have the latest. in this age of streaming wars, it seems that one head can be the jackpot?

reporter: we can learn how much a megahit windfall can be. according to figures viewed by bloomberg from netflix, over 100 million people have watch this show. they believe it has generated more than 891 million and impact value. that is a metric they used to assess the performance from individual shows. you're looking at a trailer from the show. it is a south korean show compared to the u.s. hit movie series hunger games. it is about people in extreme debt, signing up for a deadly contest with severe consequences all to earn a major cash prize. netflix figures this series crossed over 21,000,002 produce. -- 21 million two produce. the relatively low cost of generating a huge value. netflix has released some

viewership metrics for a handful of tv shows but these are the most detailed we have ever been able to see. we should point out bloomberg learned that netflix attorney and one representing them is telling us that they have not discussed these metrics outside the company and take significant steps to protect them from disclosure. that said, viewership details are likely to cheer investors who regained enthusiasm for the streaming service stock after several bumpy months. it has surged 7% since the release of the show in september. even those critical of the company will expect to lift its third-quarter performance or forecast in the fourth quarter is good these numbers are showing us that netflix estimates 89% of people watch this show watched at least 75 minutes or a full episode 66% of

viewers finish this show or binged it in the first 23 days. this is being regarded as one of the biggest hits netflix has ever had to date. a lot of analysts are paying attention to that. haidi: i think sherry is in that 30%. shery: definitely not. haidi: runaway hit for other people. netflix kicking off tech earnings this week. what else are you watching? reporter: we are seeing that netflix and tesla are in big focus. netflix reports early this week that tesla follows the next day. it had a weak first have so many analysts are saying that the combination of this show and the recently announced seinfeld launch in the fourth order could provide a solid cushion after the third quarter outlook in terms of subscriber ship is a closely watched metric on wall street.

a lot of anticipation here. in terms of tesla, they were one of the star stocks in 2020. it has slipped since then in 2021. a lot of it has to do with the race for electric carmakers. there is a lot of competition. rough start in asia which analysts are saying is getting real traction there. a lot of focus on the numbers. both are expected to have again, a big reaction in the case of netflix. numbers could propel at higher. with tesla, they need more than a blowout quarter here. interesting week for tech. haidi: let us get you the quick check on the business flash headlines this hour. the online real estate giant bought 3800 houses in the second quarter after ramping up its i by business. it allows homeowners to request

an algorithm calculated price. zillow buys the property, makes repairs and puts it back on the market. elon musk made a surprise appearance at a volkswagen conference he assured that they will master the move to electric vehicles. he told vw executives that tesla is more agile than other carmakers because he is an engineer fasted with the production process. the sea -- the handling of the global chip shortage was impressive. saudi arabia hit several technology firms with tax bills worth tens of millions of dollars after it reassesses the tax model for the gig economy. uber and its subsidiary will have a bill worth 100 million dollars. several of the companies are trying to negotiate for their -- with the tax authorities. facebook will create 10,000 new positions in europe within the next five years part of efforts

to develop a meta-verse. target markets are countries in the eu with u.k. being left out of the plan. facebook has been pushing the meta-verse where you would not just log into the platforms but live, work and play in its digital world. shery: we are seeing kiwi stocks seeing upside this morning. let us turn to sophie on what to watch. sophie: that inflation be this morning striking a reaction in markets. kiwi dollar trading at a one month high. that against the greenback. yields are pushing higher. we are seeing a jump in swap rates as dust swap rates as well. back above that 221 level two a january 2019 high. we have this as the case for a november rate hike. this seems to be happening in new zealand. this underpins for the next two meetings. switching out the board, they

have pricing in multiple spots as well as reopening program that continues in australia, prompting a jump in the three year yield to a 20 month high. we have them eyeing that 69 level right now. as we see the curve flattened for aussie bonds. they do expect the scene will be set by the end of next year. the tightening cycle is earlier than the central bank itself is forecasting. shery: we have seen a lot of focus on those inflation numbers and those kiwi numbers this morning. surprise to the upside good we will watch that in the market reaction as australia gets underway. coming up the next hour, we assess the future of hong kong's hospitality sector with acl in the let us installment of generation next. that is it for daybreak australia. -- "bloomberg markets china

daybreak china is up next. this is bloomberg. ♪ it's moving day.

and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today.

haidi: welcome to "bloomberg daybreak asia." shery: our top stories this hour. asian stocks set to open higher ahead of china's gdp numbers. new zealand inflation hits the fastest pace in 10 years. the pboc governor says china can contain the