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heidi: i am in australia. and: we are counting down to the major market open. >> top stories this hour, u.s. stocks and bonds rally as the fed holds rate at 822 year high while investors hope that the hiking cycle may be over. >> given how far we have come along with the uncertainties and the risks that we face. >> welcome gives an upbeat revenue forecast. >> plus a suit, j.p. morgan wishing for a partner to accelerate its push into the hottest areas. let us get a check on wall street, a few hours after fed chairman jerome powell news conference we are seeing futures pointed higher again, this is

after we already saw the market rally, the s&p 500 is up more than 100% after the fed thinks the market could be done. another rate hike is in play, we are seeing that bonds rose, that is after the treasury refunding announcement which blossomed as much as people were expecting. the rate is down 18 basis points in the wall street session to 4.757%. it looks like we are headed even down on the 10 year rate. they're keeping an eye on earnings, post-market, public companies going up after earnings. let us have a listen to what fed chair powell had to say. >> given how far we have come along with the uncertainties that we face, the committee is proceeding carefully. we will make decisions about the

extent of additional policy firming and how long the policy will remain restrictive based on the totality of the incoming data, of all the outlook, and the balance of risks. haidi: joining us as a professor of economics at the university of michigan she was a chief economist at the department of later and has served on's president obama's's council of economic advisor. the policy will remain restrictive, the market seems to think that the. fed is done for this cycle. is the market over optimistic here? >> i would not say that they are over optimistic but i do think that there is a lot of uncertainty out there. there were some things that i think they pointed to that suggested that we may see rate increases in the future and they think it might be very hard to get all the way to 2% without any further rate increases. they also said we are not even

talking about cutting rates at this point. that is on the hawkish side. on the dovish side. i think what he said was that we are seeing really a strong economy and we are seeing strong economic growth and while potential is 2%, our potential growth they see in the long run is being 2%, they believe there is some catch up potential growth going on here which is what is allowing us to grow below potential even though we are growing up of 2%. what that says is they are not seeing the economy as superhot just because we are having this very fast economic growth. that is suggesting that may be that they do not feel that they need to put the brakes on it. haidi: financial conditions have been doing the work as well, federal chair powell has acknowledged that nwc yields come down.

if financial conditions unwind, the fed would have to get back into the game. the optionality of every meeting being live is critical. what are the odds of a december hike? >> i think he got pushed really hard on this in the press conference which is what are you doing? you are deciding meeting by meeting? what is going on. what we are doing, is making decisions and very complex environments -- in a very complex environment. we will see more inflation reports between now and then. we see more employment reports. we will see what else is happening out on the market. the market is doing some of the work for the fed right now. do they keep doing that? i do not think we see a rate rise in december. if everything were to change, maybe you would. most people are expecting you would not see another rate rise in december.

i do think we have more uncertainty around what the fed will do not because they are not telling us, but because they legitimately do not know. it will be based on what happened in the future. nobody can guess that. vonnie: we are surprised by the latest jobs report contrasted against the government job numbers? use the elevated market demand as still being a key consistent risk for inflation going forward? >> i will tell you what paul said is at some point labor has to stop expanding, he is probably right, but what is that point? is it now, two months, three months? we do not really know, we have seen a really unprecedented expansion in labor supply. particularly for women, for women in the standard working years and their 20's, 30's,

priorities, early 50's? we have heard of higher than ever reported labor participation rights. will we continue to see women come into the labor market? the answer came in the form of covid. we are asking the same questions we were asking in 2019 and only time will tell. haidi: he does not have a crystal ball, you can fill for policymakers to our trying to make their way through this and he said all the way along it will be data-dependent. let me turn to the housing market. are there any kind of crack's you are worried about when it comes to refinancing risk because mortgage rates remain so low? >> i think that the united states does not have the problem that a lot of other countries have in that most americans are on fixed rate mortgages, we have

not seen is the housing market slow down that much but what we have seen his people pivoting towards smaller properties, that is not a bad thing because we have seen such a move towards large properties, we can actually use a little bit of a jolt into the market, companies building these smaller homes, that is where i think the demand is. we have not seen that, i think, that market slowdown is much as you would expect given those mortgage rates. certainly, there is a lot of people who feel very stuck. they cannot size or size down, they are stuck in the house they are in. until rates come down again. vonnie: with all of your experiences as a labor economist i have to ask about the union gains in the united states. bigger than we have seen in a long time. is that a good thing for corporate america?

>> i think so. the unions in general are a good thing for corporate america and the united states we are seeing unions almost going extinct. the lowest unionization rate on record in 20 in the united states. only 6% of private sectors are unionized. if you paid attention carefully to these unions, they were as much about preserving the union and the ability of unions to grow as they were about getting a certain wage gain for their members. the uaw, they got what looks like a really big number, 25% wage increase. they have not been getting cost-of-living adjustments for the last four or five years. that wage increase did not really take them up very far in terms of real wages compared to where they were in 2008.

they're using a tight labor market to recoup some of what they gave up over the last 15 years due to weak labor markets. they are not putting themselves farther ahead, they are catching themselves back up. over all that rebalancing in the u.s. economy will prove to be something that is good for it. haidi: always good to chat with you, the professor of public economics at the university of michigan. let us get a look at how the asia session is reacting day after fed. annabelle: we are seeing it in bonds because you saw the moves in treasuries and in the session, the front end of the curve, the yields are moving lower. although jay powell says they are data-dependent going for it is investors and traders in the market that are saying that the fed is done for the current cycle, we are also keeping an eye on the alternative asset classes, riskier ones like going

and continuing its march higher. it is back below 2000 an ounce. let us change on because in the equity space you are expecting the relief rally to come through and it is indicated in future so far, new zealand stocks are to the upside and continuing to watch the japanese yen holding fairly steady. haidi: still ahead, we get more on the fed policy path with the head of equities, chris williams is live with us from the barclays agile forum in singapore today. u.s. and israel exploring future options for the gaza strip including a peacekeeping force, we get the latest on the israel-hamas war. this is bloomberg.

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>> we will continue to affirm that israel has the right to defend its citizens from terror and needs to do so in a manner that is consistent with international humanitarian law. that prioritizes the protection of citizens. haidi: president biden speaking at an event in minnesota reiterating israel's right to defend itself in a manner consistent with international law. the u.s. and israel are

exploring options for the future of the gaza strip and that may include a multinational peacekeeping force, if they succeed, let us bring forward jodi schneider in washington, a lot of questions from the beginning of this conflict and the response from israel has been what is the endgame? what does the gaza strip look like if and when we get to the end of this war? what are the ideas that are being discussed? >> that is really a big question here that has been overhanging a lot of this is after the fighting is over, what happens here? who controls the gaza strip? israel which gave back the gaza strip in the mid-2000 said they do not want to control it anymore and the u.s. really does not want israel to control it. no one seems to want to do that. the question is how do you govern there?

it seems a long way away from today when we are seeing airstrikes and humanitarian crises. this is something that the state department and antony blinken the secretary of state brought up when he was testifying on capitol hill yesterday. alluding to the fact that they are starting to think about this kind of strategy. one of the possible options is for there to be a multi-national force them may include some u.s. troops that would of course be tough for president biden to push. that is on the table. there is also another option that would be a more u.n. centered approach which you have seen in other places in the middle east and in israel on the west bank at one point for instance. this is being discussed but again these are early discussions and right now we are seeing a full-fledged war there, it is hard to see that this will get much traction until there is more of the military resolution

and also that there is some more resolution to this humanitarian crisis that is developing in the gaza strip. vonnie: who would this multinational force be under? while china and russia agree? do you get the agreement of arab nations? do you get the agreement of palestine? do you ask the people of palestine? >> those are all really important questions. it would have to be the answer determined. the u.n. has been split over this. we are seeing increasingly a number of countries recall their ambassadors. jordan went ahead and recalled its ambassador to israel. we have seen south american countries do that. there is a lot of international discord over what is going on in israel. coming together with some resolution after the war will of course be thorny.

this will be a real political football too from the biden administration which right now has been very supportive of what israel is doing but they are increasingly getting pushed back and it is an election year next year. president biden will have to contend with this. he went to minnesota which has an increasingly growing muslim population and while he stood by israel he also talked a lot about the gaza strip's humanitarian crisis and trying to get more a there. -- aid there. haidi: that is jodi schneider in washington. vonnie: other top political stories around the world, president biden putting forward his top advisor on asia to be the state department's number two official, this reinforces the central of china and the indo pacific in the administration's foreign policy. he is the secretary of state requires senate confirmation.

the japanese prime minister latest estimates package includes spending. we have obtained a draft of the plans which includes measures to cushion the impact of inflation, raise wages, and offer support for domestic investments. the package comes as the prime minister faces declining public supports with price hikes outpacing wage gains. tony's prosecutors are -- taiwanese prosecutors are looking into foxconn founder gou. 13 people have been questioned over cash payments in exchange for signatures supporting his bid. the campaign is distancing itself from the suspects and has condemned any illegal behavior. get a round up of the stories that you need to know in the addition of daybreak. subscribers can go to dayb . you can also customize your settings to only get news on the assets that you care about. this is bloomberg.

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vonnie: let us take a look at some stocks moving in the after hours, disney is not moving that much. a lot of news post markets offer to buy comcast for $8.61 billion wednesday marks the start of negotiations. those talks could go on for months and an appraisal could be next year. beaucoup soaring after the streaming platform -- roku soaring after the streaming platform atop the average analyst estimate. 4 -- almost 8%, it exceeded expectations on q3 results and q four guidance. underscoring an insatiable appetite for online delivery. qualcomm up a little bit

earlier, up 3% in the after hours straight, better-than-expected revenue forecast for the current quarter is the reason behind that jump there. let us take a closer look at qualcomm's forecast, it surprised the street, let us bring in su keenan who has been monitoring the conference call. qualcomm forecasting a increase in sales -- an increase in sales? chinese headsets? >> china is a critical market, there have been a lot of green shoots and crosscurrents as well, android is not getting as much traction in china as elsewhere, we know that there are concerns about huawei taking share. coming into the quarter it was pretty clear that the phone market had bottomed but what was uncertain was the speed and size of the snapback, qualcomm offering some hope your, the largest seller of smartphones ships given our better-than-expected forecast sales of 9.9 billion with the midpoint well ahead of analyst

estimates. a sales rebound particularly in china where customers have been holding onto existing models in the past that her's demand for qualcomm chips and a rebound would boost its main source of revenue. you also sit on the conference call that they are seeing the booze from chinese handset makers even though the overall market is not as strong in terms of handsets. many would say in terms of analysts looking at this it was not that impressive to beat the snapback in recovery has written continue to be muted. the stock is up as much as 4%, much needed good news for them, your to date, the stock had been flat, this may translate into the u.s. thursday trade. the fiscal fourth-quarter profit points out a revenue drop of 24% in keeping with the slump we have seen for the industry, but the results they posted certainly beat what analysts

were expecting and all of this is better-than-expected results. haidi: those are the highlights? >> like a lot of other chipmakers that have been tied to the winning demand for consumer electronics, mainly smartphones, qualcomm has been riding it out, they have seen their business sag with the broad-based pullback in sales. year-to-year basis. they do see the android market as a stable overall on the conference call. they are talking to the ceo about making this company less dependent on what has been a more competitive and slower moving market and stepping up their efforts to break into computer components. welcome unveiled a new laptop processor and that is designed to outperform rival products from intel and apple.

they can have twice as fast as a similar processor from intel while using about 68% less of the power according to qualcomm. again, a lot of upbeat comments on the conference call as this company symbolizes those coming out of a badly beaten up sector, because of the buildup of inventory. again, a beat in terms of analyst expectations and better-than-expected outlook. haidi: su keenan with the latest. we are watching a spectrum of other earnings. the ones we are tracking including airbnb giving a disappointing outlook citing greater volatility in the economic environment that slows demand for travel. revenue will be 2.138, 21.7 billion dollars that falls short of estimates. the custom expects -- called to

company expects sales to fall in the third quarter. bitcoin's decline in value, the enterprise software maker is allowing -- liver calculations showing the company has risen almost half of its piquant purchases since 2020. this is a picture after fed day as we get markets really at odds as to what comes next. chair powell hinting that the fed is done with hikes out of the pivot that was cheered by the markets but we are seeing challenges potentially, a pivotal day when it comes to asian bonds in the day after a big barbara lee being really quite critical. if we take a look at how we are trading when it comes to efforts, an upside when it comes to the aussie dollar, we see iron ore gaining some momentum and the prices we are seeing out of some upside when it comes to

the iron ore miners. the highest level is back above the $20 level for the key exports. we are seeing the kiwi dollar up by about 2% of a percent -- .2%. the u.s. dollar as the fed keeps rates steady, will he or wont he going forward? seeing the trade in dollar movements. coming up we are taking a live look at singapore for the barklay's asia forum, chris will be giving his outlooks when it comes to the policy and implications for every market. this is bloomberg. ♪ 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.

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with his faint raking high, along with the uncertainty and risk that we face the committee is proceeding carefully. it takes time, you cannot rush it. slowing down is giving us a better sense of how much are we need to do if we need to do more. we are going meeting by meeting and asking ourselves if we have achieved a stanza policy that is restrictive enough to bring inflation down to 2% over time. >> the future meetings, we are not confident that we have. that is the way that we will be going into these future meetings. the progress is going to come, it will be a bumpy, but we are making progress. >> jay powell speaking after the decision to hold rates at a 22 year high. let us get more fuse with the barklay's asia forum kicking off in singapore, bringing together leaders across business policy and finance. we are with our first guest. >> very important day to get

assessments from the fed's movements. the head of equities at --, chris, how do you make of a pause? what do you make of the messaging? >> it is nice to be here. i think the way i would describe it is that policymakers and forecasters are walking down the alleyway of apprehension and what that means is that they believe that they can live effective interest rate increases over the last 18 months -- leave effective interest rate increases over the last 18 months, 150 basis point move in the long yield curve over the last six months will have the key dilutive effect of dampening inflation. the problem is that the data is not telling you enough about that just yet. that is when chairman powell talks about moving forward carefully and waiting meeting to meeting, that is the context in

which the apprehension exists for policymakers. >> that apprehension is not reflected when you take a look at how asset classes move. we have stuff moving up, yields moving down in a massive way. . it does feel like the market is saying that the fed has moved from hold pause -- pause to hold? >> over the last six through eight weeks you have seen a fairly challenging period with the correlation of bonds and equities which have been high. that is also the context, there is relief in today's announcement that there was no rate hike. the fed is not seeing something that has changed course from that alleyway of apprehension. moving forward carefully. >> will there be another rate hike? >> i think that the view is still a consensus view is that december is in play for the u.s.. i think that is the best case. we will see how markets shake out after today. >> it is a bit depressing.

would you -- what are you constructive on considering the uncertainty? >> i think the -- clearly in australia you have a unique position where despite all of the uncertainty and despite the cumulative effect of rate increases, we have a physical position which is in surplus and that was perhaps considered impossible for over 18 months ago with a level of uncertainty. i think that is quite a strong position for the australian economy to be in. it is one of the considerations. four markets as i think about the pathway forward from here. it is not just about the discussion or the next move in interest rates, it is also beginning a discussion about when the first cut in the cycle comes into play and that is about with the profile of inflation it looks like over the next 12 months or so. haidi: it is interesting because australian equities tend to be globally a little bit less

loved. is that because of evaluations? where do you see a little bit more interest across the region? >> in terms of the australian market it is a different composition to what you have seen in america and so far less technology focused of our sector bias. what we also see is when uncertainties is high and volatility is high across the asia-pacific region, it becomes a relative safe haven. that is when we see capital flows in the equity market. >> when do you see the reversal? funds going back into australia. there are bright spots. commodities are doing really well right now. >> that is a key contributor to the fiscal position i referenced for australia and the australian federal government. i think you still need to get to a conviction point where rates have peaked. once you reach cap point of conviction about rate speaking

-- reach that point of conviction about rate speaking, the market focuses on when is the first rate cut? as soon as you have that shift in focus, you will see people deliver more conviction so you start to see more growth equity in portfolios. you see more risk appetite. the capital markets and in portfolio acquisition. >> is a still premature to talk about cuts when the fed is still deciding whether further tightening is needed? the rba will have to keep up. >> i think the context is different. i mentioned the fiscal position of both economies being distinctly different. i think if you look at the australian economy as well you can clearly see that there is evidence of a slowdown. consumption per capita is slowed. strong immigration is actually counterbalancing that. you do have this again, this

alleyway of apprehension for policymakers as they way up the conflicting data. there was an surprise -- there was a surprise in consensus and the bank's own forecasts. alongside strong demand, domestic demand, a year ago it was about supply-side constraints, now it is about strong domestic demand. we think that there is increased interest rates and we think that is the consensus view. we start to think about what is the profile of slowing demand and the profile of demand tapering? core inflation back in target by 2025. anything that disrupts that i think will be problematic. >> there has been communication issues when it comes to the rba. do you think it will be better from here? >> the context again for communication issues for the

reserve bank was coming out of a pandemic with very must uncertainty about supply chains and how the economy would stabilize and recover. the context around that is different. i think that the reserve is focused on communicating. you saw the governor's remarks a few weeks ago, a reference to we will continue to increase interest rates if required. if the data forces us to do that, we will not hesitate to act. >> what are your plans? give us a sense. we know it is about three years old. pretty young. how are you intending to grow? >> exciting thing for us and i will reference at the barclays asian forum, barclays has been such a tremendous part of this is we capitalized on this over three years ago. we are still in growth mode and a number of businesses we expect to be material contributors to the success over the medium-term are in their infancy. when you look at an organization

, 93 euros old, we are pleased with the progress we have made and two weeks ago we were appointed by the australian government as a joint made manager on the bond issue for $8 billion. that is a milestone. a huge milestone. it is a step in the way out of their own way ahead of us we think is very long. >> always a pleasure to speak with you. chris williams, we are coming to you live from barclays asian forum. it is celebrating 50 years in the lion city! haidi: we will have so many conversations from that event. in the coming hours of the day, including a conversation with the barclays ceo later, right here on daybreak asia. let us get back to the reaction to the event and talk about what investors are saying about the meeting out of the way for. now from hong kong, the reaction

and analysis, there is a party that says that the door is ajar for a hike? >> that is something chair powell indicated, there would be a need for further tightening but the fomc will be staying data-dependent. the meeting is discussing that it is a live decision for economists and analysts in the market. the bank of america is when we have already heard of with their reaction. they are sticking with it, calling for one more 25 basis point hike to the outside in december. in terms of how they read that, they said that he stayed dovish but still, he did not break much new ground in these conferences. what is interesting is the bond market reaction because even though the fed did attempt to deliver that caucus hold if you change it is wall street and traders in the market there really are saying that we are done for the current time. you are saying that retreat.

you are seeing on the two year yield the treasury is still coming through in the green so far this morning. vonnie: the other narrative out there is when will the fed cut? plenty of market participants are wondering about that. >> absolutely and we have heard from a lot of different high-profile investors warning about the outlook and last week as well, bill gross, bill ackman, overnight as well, jeffrey speaking to cnbc, jeffrey gundlach and he said at this level in terms of interest rates, the current government deficit is really not sustainable over the longer-term. he is saying that a recession is possible or will arrive in the first part of next year. he says the key rate is going to be at 2.5% by the midpoint of next year. jeffrey is someone who is saying that 200 basis points of cuts could be possible over the next few months. quite a bit more than what the

consensus is for markets and pricing for three cuts next year, 25 basis point reduction. haidi: thank you for keeping an eye on markets as we open through the next few hours. live, we see past interviews on our interactive tv function, tv . you can go to the security functions we talked about plus between the conversation by sending us messages through our shows. check out itb go -- check it out at tv . this is bloomberg. ♪

haidi: jp morgan is searching for a potential partner to grow its private credit business. the bank continues to push into the lucrative corner of leveraged finances. but as get news from the finance editor, how is jp morgan approaching this deal to find a partner? >> this is the fairly early stages of what we already know has been a $10 billion set-aside for jp morgan to expand into the private credit sector. at the moment it is exploratory in the since we are looking at all sorts of different investors from several wealth funds to pensions and potentially some alternative asset managers who

might provide the capital that will flow behind these investments in the months and years to come. a significant development to see how they will end up partnering with and the type of investor that ultimately comes on board for this partnership. very early stages. nothing set in stone for this one yet. clearly if the growth of private credit across the world continues as it ramps up, it shows that jp morgan is going for it pretty hard at this point. vonnie: it set aside $10 billion for the balance sheet and competing with other banks to secure work partners and so on, who else is it competing with? >> clearly, very competitive landscape as we know. the banks that jp morgan will be competing with, the likes of barclays, deutsche bank of course, and also wells fargo in

the u.s.. a real slew of banks upping the ante in this area. a huge growth area. not without the competitive pressures that will come with that in the coming months as this grows over time. the global credit market now with more than $1.6 trillion. clearly, a huge slice of the pie and there are a lot more interests is here. -- inferences here. vonnie: some other corporate stories we are tracking, charles schwab has been discarding more than 2000 -- finished cutting more than 2000 jobs. the company is trying to find half $1 million in annual cash savings with cash flows falling as it integrates pd america. it is hard but necessary, steps. rhythm capital is planning to

acquire a hedge fund firm, he could wipe out more than $30 million of shares that they owned. this follows a separate legal challenge pending in delaware. singapore's financial regulator has banned dbs from acquiring management and has been barred from producing his local branch -- reducing his local branch and local network. the changes in sure that the bank focuses on restoring the resilience of its online banking services. haidi: new measures to fight money laundering following the recent seizure of more than $2 billion in assets from unsuspected gains. big banks will be punished if the correct procedures are not put in place. >> some people believe that it

actually enhances our image as a cleaner, no-nonsense place because we moved very strongly against a very large network the asset seizures, they are even by world standards quite high. and the ability in which we select the system enhances it, this is a place you do not mess with. there is no financial center that is 100% clean. that cannot be the standard. who actually looks for dirt and sweeps it away decisively and there is -- >> this could be a tip of the iceberg or not? >> probably not. when you find dirt in your house, you would ask are there other corners that are not swept? we are making a more thorough sweep of the place. it is hard to tell. i do not think this -- i would say tip of the iceberg is not the right kind of characterization.

there are other networks i think we have to look more closely. >> were you surprised by the big boys were embattled in this scandal? the like of credit suisse? like dbs? >> no. they are big, the amount of funds and deposit the flow through them is massive. the fact that money was found in these banks is not interesting come what you do with it when you suspect there is something else to do with it? look the other way and do nothing to do with it? you file a report and you close the account. that is a good outcome. >> that will be if there seems to be wrongdoing on the banks? >> if there were lapses in the controls and the risk management, definitely there will be repercussions. we need to tell right now, we are going through this. >> how are the alleged money

launderers putting their money in luxury real state? the property is the weakest link? when it comes to that? >> i am not -- i do not know enough. we do not know enough to say if that is the weakest link. i would say it is one of the weak links. real state agents have a responsibility to look out for suspicious transactions. do they do that well? >> we knew that the mas is on the cusp of the leadership transition. what advice do you have to leave your successor? >> never be afraid to change positions including what i have done! we are not going to improve if we do not innovate and change. things that need to be changed. >> what is next? >> i do not know. frankly, i have not quite landed on anything! [laughter]

climate and sustainability will be the number one issue for the world in the long term. >> can we rule out a political career? >> you can! [laughter] vonnie: that is the money director -- managing director. get in-depth analysis from the daybreak team, now broadcasting live from our studio in hong kong. listen via the app, radio plus, or bloombergradio.com. plenty more ahead, stay with us. ♪

haidi: consortium led by brookfield has increased its origin energy after orton indicated it would reject the original offer. the latest. what do we know about this improved new bid? >> it is a lot better, about 10.5 billion dollars out of the original offer was 8.81. the main sticking point came from australian super which owns the origin and they wanted much more, it was so unhappy with the original offer that it conducted its own review and ended up saying that they wanted $10 or more per share. it closed at nine dollars and seven cents -- $9.07.

we are worried about pushing brookfield too far but there would not get an increased offer it by now we have an increased offer, well short of what australian super one-sided brookfield is calling this the best and final -- what australian super wanted and brookfield is calling this deal final. origin says it will hold a shareholder meeting on november -- in november about the implementation date for the deal has been pushed out to january 31. is recommending that shareholders accept this and say that it is within the company's best interest. also in the country's best interest. they think it is a good deal as well, this increased investment from brookfield will help origin and australia with the energy transition because the energy is produced by coal powered energy

stations. australian super is not excited by this, petrol say it is not enough, kingfisher wants $11 per share, one senses that there is a lot more to the story to play on here. haidi: we will be watching this space. watching the markets because plenty of excuses for asian equities and risk assets to shine in the fed session. the morning after the fed, delivering the hawkish hold by chair powell. notably striking the cautious tone in the press conference. a smaller than expected that as well and we also had manufacturing coming lower. that is a future across equity markets as we set out for the open in sydney, trading is underway in five minutes or so, we are seeing an upside of .7%. equity futures are looking higher when it comes to the rest

of the region as well. we are seeing new zealand a little bit of upside. of upside when it comes to the kiwi. -- an upside when it comes to the q. week. u.s. dollar slipping in a choppy trading session. fed holding steady for the second meeting there. daybreak asia is next as we get into the start of trading, the morning after the fed we are saying equity futures across the region advancing following the rally in u.s. stocks and bonds. hopes of the rate hikes from the fed may though overcome what we are saying on export japan, australia, and hong kong all rising. the trading in sydney in a few minutes, this is bloomberg. ♪

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