i'm yvonne man. bloomberg best, a weekly review of the most important business news, analysis and interviews from bloomberg television around the world. it was a momentous week in politics and policy across the globe, starting with a closely watched election in germany. angela merkel has won a fourth term as chancellor, but her victory was marred by support for the populace party and a clear rebuke to her open door policy on refugees. mainne of her mine -- partners now want to be part of the opposition. who will she build a coalition with? >> with the liberals and greens, that is their only choice after the social democrats have said they will no longer participate in the government, but go to the opposition. >> it is untested at the national level, making it more difficult. first of all, you have these two parties you are negotiating with, instead of just one and there are differences between the greens and liberals, so whether they are able to come to a solution and how quickly they can do it remai

i am yvonne man in hong kong.: i am betty liu in new york. jim chanos was on earlier with us at bloomberg television, talked about many things, including his bearish views on china, which he has had for many years. let's listen in. >> people have taken china off their front -- watchlist. they are thinking all is calm and have postponed the problems a lot of people now see. we are not the only ones anymore. i will say, there are a couple warning signs. industrial metals prices the world over, the peaked this summer. iron ore in steel are down substantially. the country has yet again hit the brakes in residential real estate. they put in home purchase restrictions and a number of cities. he keeps rolling and expanding that, trying to cool off the real estate market. again, to refresh your memory, this is a government the keeps hitting the brakes and then the accelerator alternately on the credit expansion and real estate markets. it looks like they are starting to tap the brakes again. >> the rollover in industrial

i am yvonne man. welcome to "daybreak asia."he fed to begin reducing its balance sheet next month. janet yellen sees another rate hike this year and three in 2018. sent the dollar surging, racing earlier gains, but climbing above its g10 peers. globalfrom bloomberg's headquarters, i am betty liu in new york. it is after 7:00 p.m. wednesday. i'm meeting with opec and its allies on signs the cartel may change output curves. president trump said he made his decision on iran but refuses to say what the decision is. speak thison due to hour, hopefully to clarify. ♪ betty: welcome back, yvonne. we missed you, a lot has happened in the last several weeks. today with the fed, that has been the big news. now we know this qt we have been talking about will begin next week -- next month. let's look at how the markets traded in reaction to this. in thiss quite a dip announcement and after with a news conference. we saw markets climb back. the s&p closing above the red that, butnasdaq below the dow adding 42 points. i want to bring up a quic

i am yvonne man. welcome to "daybreak asia."sian-pacific markets seen rising as investors move out of haven isis. the yen weekends while the dollar heads back to gains. janet yellen is a catalyst, warning of inherent risk in tightening policy to slowly. globalfrom bloomberg's headquarters, i am kathleen hays in new york, where it is just past 7:00 a.m. this tuesday. republican leaders prepare to roll out a new tax framework, but the numbers are hazy. and twitter experiments with 280 characters in a bid to have wider debate. ♪ kathleen: i don't care how many twitter characters you have come it would take a massive tweet to tweet out so much in janet yellen's speech today. when you look at the citations, the charts, 20,000 pages. i think she had one message, the fed is going to hike again, even if inflation is below target. yvonne: pretty much. i wonder what the president thinks about that twitter development. but then again, you mentioned about janet yellen. -- she is ono-part a two-part mission, normalizing the balance sheet. we

i am yvonne man in seoul. betty: i am betty liu.hose are the words according to nikki haley today. for harsher sanctions against kim jong-un's regime, shutting down china's oil exports in north korea. that is among the sanctions in focus. for more, let us get to ambassador max baucus, joining us. he was the ambassador to china from 2014 to just earlier this year. for thank you so much joining us on this labor day holiday. look, i know you talked quite a bit about the u.s. position here on north korea, and hearing nikki haley say we pretty much exhausted all options and kicked the can down the road long enough for a quarter of a century. what does the u.s. need to do now, or what can the u.s. do now? what are the other options? max: i thinkink -- we have run our string on bluster and name-calling. that is frankly not working. it may be counterproductive great for his home consumption and the country of north korea. the question is what is the solution here? i think we have to start as a country in the united states to think a lot mor

i am yvonne man.resident trump increases the pressure north korea, sanctioning anyone doing business with kim jong on. pyongyang fires back, saying the president is deranged and america will pay dearly for its comments at the u.n. >> i am kathleen hays in new york where it is just past 7:00 p.m. this friday. elsewhere, china downgraded for the first time in 18 years. s&p global reading points to foreign debt. new calls in tokyo for more stimulus, not less. ♪ yvonne: glad you could join us. we are hitting a pause button in the trading, after what seemed like a long run-up in stocks. we did see the selloff when it comes to equity markets in the u.s. a lot of talk in asia about the fed and central-bank talks. indonesia coming out later today. we could see central-bank emergence playing through in this part of the region. kathleen: isn't it interesting coming into this year, the whole story was about central banks moving in the direction, that they would all be heading toward the exit. now the federal res

yvonne: i am yvonne man in seoul . watching "daybreak asia ." let's get the first word news with alisa parenti. russia's president harris rejected u.s. calls for sanctions over north korea after its sixth and most powerful nuclear test yet. toechoed china's resistance pressure pyongyang into abandoning it its atomic programs. he called sanctions useless and ineffective, instead, urging the international community to offer security guarantees to north korea. the trump administration has laid out its rationale for possibly walking away from the 2015 nuclear deal with iran, declaring the islamic republic's ballistic missile program violates yuan resolutions and threatens to make the country the next north korea. saidambassador nikki haley the agreement reached during the obama administration was flawed and does not take into account iran's role in supporting terrorism. he will also end the deportation move would impact one million people who consider themselves americans, throwing them into legal limbo. high-profile ceos

let's bring in yvonne man who is in seoul and tom mackenzie who is in china. yvonne, to you. what has been the reaction on the ground? well, looking on the , we see business as usual. there is a fashion show starting in a couple of hours. rehearsals have been going on but just about two miles away from where i am staying is the government house. it has been a very busy 24 hours speaking with his counterparts and the u.s. and japan. strengthen and deepen these ties with them the last couple of hours and we also got the , news reporting that south korea has detected that north korea may be preparing for another ballistic missile launch that could possibly be icbm class it also reporting that south korea and the u.s. are discussing possibly deploying u.s. carrier first as strategic bombers to the area. things are still moving here as a speak. 24 hours after we heard the nuclear test it was conducted, the sixth most powerful one we have seen. just to give you the sheer impact of the the that nation came about -- the debtor nation came about. we saw kim jong un looking at a nuclea

. >> on the yvonne man in hong kong. has reported an 11% fall in for your net income 25 $44 million. it is maintaining. forecast and $16.75 a kilogram. joining us is ceo tailspinning's. always great to have you on this date day. day.-- this big 2017 higher milk prices, higher costs for fonterra. what is your read on that year -- the year? >> you are right. it has been quite an extraordinary year. here at home, we had a couple of weather events going into our peak of milk so we could collect less volume. at the same time, prices went up by 57% around the world. higher input costs. the no milk price. with, on theo deal other said, in terms of efficiency, operating expenses we have improved a lot. it's actually quite -- we're actually quite pleased with the results because the payout to farmers is significantly higher. we were able to stick to the 40 sense of dividend, which we did last year -- $.40 of dividend, which we did last year. we always focus on what's the yield on the share for our shareholders and with our return

i am yvonne man. welcome to "daybreak asia." with aeads a -- tech selloff. gold selling above $1300. brent crude jumps to a two-year high as turkey threatens -- bloomberg's global headquarters, i am betty liu in new york, where it is just after 7:00 p.m. on this monday. elsewhere, this just breaking, the latest republican attempts to replace obamacare is dead in the water after susan combs joins those voting against the bill. drama turnsip another page with apple urged to jump ship and change sides. there is a sickness going around. no, it is not what i had over the weekend, which was the flu. really took the market's down today, the big tech shares, but it lifted another portion of the markets. i want to pull up a chart for you guy. -- you guys. g #btv 4698. it shows small caps, which has been the laggards all throughout the year, now starting to see some life, some of the life fangg out of the stocks. yvonne: a different kind of flu. i am glad your feeling better, betty. some of these stocks that have suffered the most this year doing quite well. safety tr

thank you so much to tom mackenzie and yvonne man, the person on the ground in seoul.orea with a former advisor to the u.s. commerce department specializing in asia affairs. this is bloomberg. ♪ ♪ david: minutes away from the open of market, seoul, tokyo, sydney. futures, a little bit to the upside. some comments out of the finance minister of south korea saying this increased geopolitical risk and tension might filter through to the financial markets and be there and be present, not just in the short-term. that is something we have heard of the finance minister. we will see how things get underway 12 minutes from now. this is daybreak: asia. i am david ingles. betty: i betty liu. there are rising tensions marked by the north korean nuclear test . this is days after the firing of a missile over japan. the incidence underlying north korea's intention to become a fully capable nuclear power. let's discuss this with the king. strategy vp i want to mention the headlines we saw from the finance chief of south korea saying this is going to have an impact on the economy. this

i am yvonne man. welcome to "daybreak asia."an excerpt on the final day of a strong quarter. the msci asian-pacific index down for the six day in a row. oil also on the retreat, after bouncing into bull market territory earlier. betty: from bloomberg's global headquarters i am betty liu in new york, where it is just after 7:00 p.m. thursday. governorof england hits back at brexit critics. mark carney says he will co t

yvonne man is there in south korea. let me start off with you. at is the mood where you are in seoul? yvonne: the rhetoric has escalated. -- not even not surprising at this point, pretty much business as usual. morning traffic coming in here, the business district. we continue to hear the south korean military confirming they are conducting live fire exercises along north korea's nuclear test site. president trump as well as south korean president moon had a phone call overnight talking about the latest threats from the north and saying they have agreed pyongyang's nuclear test and violating the sanctions is a great provocation, and they will react with air force as well. we heard from local media that the u.s. joint chiefs of staff spoke with their south korean counterparts to prepare for the military response. some are calling this a potential game changer, the fact we are seeing north korea has developed the capability quite a warhead on the icbm, and the power and force as they mentioned is raising the threat level. raising the threat level by

we have yvonne man standing by in seoul.e keep talking about north korea crossing the so-called red line, seemingly with impunity. is there a sense that this time is different? i remember you are speaking to an ambassador. red lines don't even matter at this point, given the geopolitical tensions have escalated this far. yes, harsh rhetoric coming from the u.s. ambassador nikki haley overnight during this security council meeting. that only the strongest sanctions will enable pyongyang to basically stopped nuclear ambitions and resolve this problem, they say through diplomacy. this is something that i think president millon here in south -- moon and south korea would be supportive of. we have had multiple conversations with his counterparts urging for russia to cut oil supply to north korea. also, there was a phone call with president trump as well. we do see this joint effort from both countries to try to maximize their pressure on north korea. some significant moves in particular. president trump essentially allowing south

i am yvonne man. welcome to "daybreak asia."ed to begin reducing its balance sheet next month. janet yellen sees another rate hike this year and three in 2018. sent the dollar surging, racing earlier gains, but climbing above its g10 peers. globalfrom bloomberg's headquarters, i am betty liu in new york. it is after 7:00 p.m. wednesday. i'm meeting with opec and its allies on signs the cartel may change output curves.

i am yvonne man.ressure north korea, sanctioning anyone doing business with kim jong on. pyongyang fires back, saying the president is deranged and america will pay dearly for its comments at the u.n. >> i am kathleen hays in new york where it is just past 7:00 p.m. this friday. elsewhere, china downgraded for the first time in 18 years. s&p global reading points to foreign debt. new calls in tokyo

i am yvonne man. welcome to "daybreak in show -- "daybreak asia."oming out from the u.s. ambassador to the u.n. the u.s. saying the strongest possible sanctions on korea can and it's -- these renewed tensions. pyongyang may be preparing another icbm launch.

yvonne man is on the ground in seoul.usiness as usual, which is quite remarkable given just the latest hide line -- headlines coming over north korea over the weekend. we wrapped up lunch hour here and we are seeing tourists on the streets. there is a fashion show happening here, reversals have been going on the last couple hours. literally the show must go on. are two milese away is the blue house, the government house where president moon jae-in has had a busy 24 hours speaking with his counterparts in the u.s. as well as japan. urgent to strengthen deepening ties between the u.s., japan, and south korea. we are seeing a united front and a response up in the air about the military and air force conducting live fire exercises early this morning in direct target. north korea's nuclear test site over the weekend. the market impact, we have heard from the finance chief talking about the long-term implications. we are seeing knee-jerk reactions in the market they think is not just predatory or short-term, could actually have

i am yvonne man. welcome to "daybreak asia."-pacific markets seen rising as investors move out of haven isis. the yen weekends while the dollar heads back to gains. janet yellen is a catalyst, warning of inherent risk in tightening policy to slowly. globalfrom bloomberg's headquarters, i am kathleen hays in new york, where it is just past 7:00 a.m. this tuesday. republican leaders prepare to roll out a new tax framework, but the numbers are hazy. and twitter experiments with

i am yvonne man. welcome to "daybreak asia." with aeads a -- tech selloff.ing above $1300. brent crude jumps to a two-year high as turkey threatens -- bloomberg's global headquarters, i am betty liu in new york, where it is just after 7:00 p.m. on this monday. elsewhere, this just breaking, the latest republican attempts to replace obamacare is dead in the water after

yvonne: i am yvonne man.is bloomberg asia. >> facing new setbacks with costs addingsion to the uk's divorce bill and the european parliament taking a tough line. brussels thinks london should parliamentary summary insists the european court of justice must have jurisdiction in the u.k. during the post-brexit transition time. german finance -- the german finance minister is ready to give up the job that made him a dominant figure in the euro area that crisis. as the chancellor tries to form a government. the 75-year-old was part of her three previous administrations and helped negotiate reunification. he is a fan of austerity and was bill if i didn't greece for germany's policy on debt. of china's money rates have touching the highest level since january of 2015. contracts surged to 8% before paring gains. the pboc has pulled a net $30 billion in net market operation saying liquidity remains relatively high even as it is deleveraging with and of quarter cash demand. of quarter cash demand. and telling a busine

mark: thank you, yvonne man, giving us the latest. joining us now, steven barrow. if i could start with you, we all love the function. this is on the day, steven. when you looking at all the currencies falling from the g10. when you look at the other currencies, it is more risk on than risk off. why is the yen the haven trade? >> i think one reason is, if you leave aside the haven issue for a second, the dollar-yen those very closely with the tenure spread of treasuries and jgb's. it is more so the case since the bank of japan targeted that 10 year yield level. narrowing off and that has kept a little bit of the downward pressure on the downward yen. mark: nandini, the markets once again fo proving geopolitical resistance. couldre a flashpoint that cause a more durable flight to haven assets? >> i think what the market is doing is what we tell the long-term investors to do as well. there could be geopolitical tensions. looking at the fundamentals of the earnings story and the macro picture, it is actually quite strong. this morning we have strong pmi data coming ou

joining us now is yvonne man from seoul, south korea. yvonne, thank you for being with us picked give us a sense of what it is like in seoul. right. that is take a look behind me, things are still bustling. life still goes on. we talked to some people in the streets and you get a feeling that something is a little bit different this time around it's sunday was a bit of a game changer for most people here in the sixth and saw most powerful nuclear tests coming from pyongyang. they are planning yet another missile launch on that. this to alowly moving nuclear test site monday. this after we heard from a phone call between president trump and president moon flexing military muscle talking about a possible arms deal and allowing south korea to buy heavier weapons. david: give us any clarity you can of what south korea really wants from the united states. askedad of south korea president trump to increase the payroll on those missiles. south korea's defense minster has raised the possibility of tactical nuclear weapons. yvonne: that is right.