paul: you do have competitors listed on the asx. the territory is getting a bit crowded.o you differentiate yourself? thosee: every one of companies has a little bit different viewpoint which helps with the competitive landscape. to lend itself into the high-value space. zip is not present in our landscape in the competitive set. it's really us and after pay. the way we face the competition in the united states, almost to the extent that were seen as a social impacts product. paul: with these new products you are entering into uncharted territory to a degree. you have attracted attention of one of the regulators for suspected noncompliance -- are you confident you will not run into these sort of difficulties? charlie: it's different than here in australia. of course when you have someone that has blazed the trail ahead inyou like afterpay has australia, we proactively react to those in plan ahead. we are quite confident that we've put systems in place to avoid those types of incidents in the u.s. shery: so how different are your metrics to assess risk when it comes to tra

shery: the asx going for a soft open. here is sophie.cking in on the aussie dollar, it is in stasis early and the session unchanged after flipping back below 70, giving back some of the mouth's advance. -- the month's advance. the currency could go lower unless there is a rebound from the decline. westpac forecasting the aussie dollar at $68 in late 2019 and $66 in early 2020. the iron ore outlook looking good. looking at the stoxx to watch, iron miner's are in view, raw material, also gps holdings after closing with $3.65 a share. the last close at $3.58. eyeing a $1.5s billion australian product in chile. paul: let's get more on what we should be watching as trading is underway in asia. adam haigh is with us. testimony from jay powell, moved to the dial for bond and equity markets, seeing big rallies. that in saw some of bonds adding a little bit -- ebbing a little bit. you saw the softer jobs report and the series of months, the u.s. jobs market clearly is calling. the testimony this week from jay powell will be very crucial, especial

paul: that's is after the asx had a high on tuesday.a,m on daybreak investors and the fed banking on the first rate cut in a decade. just ahead, this is bloomberg. am paulmorning, i allen. major asian markets about to open for trade. >> welcome to "daybreak asia." ♪ our top stories this wednesday, trade talks resume in shanghai. president trump lashing out at rip off china. 4% abovee almost expectations for samsung. turns up then heat. more missiles fired in the second such launch. japan, korea, and australia coming online. under pressure after closing at a record high. watch out for inflation numbers later this morning. kospi down 0.1%. take a look at stocks including iphone suppliers. policykei down, after was left unchanged. the yen rose a little bit. keep an eye on stocks including sony and nintendo reporting earnings. a busy day when it comes to earning results. >> it certainly is. you did mention samsung. let's check in on that stop everyday kospi heavyweight, a bit of a bellwether for south korea as a whole. -- let's check in on

the asx now at an all-time record. shery: u.s.aining .10% after the s&p 500 and the nasdaq fell from record highs. on what happens in hong kong as protesters keep disrupting train services in the morning rush. the china open is next. this is bloomberg. ♪ >> welcome to "bloomberg markets: china open." 'm tom mckenzie. david: compromise scenes in short supply. yvonne: the decision may rest on how policymakers see the fed move later on. tom: mexican president lopez obrador speaks with bloomberg exclusively.

the asx 200 up .2%. we know the rba has set the stage for further monetary easing.uch. still to come on the next hour of daybreak asia, we continue markets discussion with the ecb head of asia strategy. this is bloomberg. ♪ we're the slowskys. we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. paul: i am paul allen in sydney. asia's major markets are about to [shery: good evening from bloomberg school headquarters in new york, i am shery ahn. to "daybreak: asia." ♪ paul: our top stories. trade talks get back on track this week. there is little hope of a breakthrough in shanghai. neither side seems ready to compromise. marcus prepare for the first fed rate cut in a decade. the week brings polic

having a look at the asx 200, still holding on quite well. trying to get toward those record highs but a pretty risk off session across asia today. >> let's have a look at what's going on with the indian up fory, indian futures a change, after days of it being negative. we could get out of the doldrums we saw last week, which had a series of losses over the last five trading days. have at least one saying that india needs a series of interest to beuts which seems lacking as we have the slowing economy. 10 year yields a bit befuddled by what's happening with regards to this $10 billion debt auction with the debate raging about whether it should be held are not with different factions in the administration deciding on whether the merits are worth doing. all that is going to be playing out with regards to india. we have many coming out with earnings as the season -- perhaps the busiest week of the quarter. beijing, selina wang has the first word news. >> thank you. reports from the uk's saying they are stepping up preparations for nokia brexit a

there will be some jitters around the supply chain. 200,ood in sydney, the asx opening is flat.g rio tinto their guidance. ,icked up 1.2% in singapore moving toward $120. aussie dollar holding steady. bond yields are slipping. the 10 year by five basis points. new zealand, bond yields are under pressure. as for the kiwi dollar, we are break gains, watching to the 2750 level again. paul: let's check in on the first word news. >> brexit talks are becoming more hostile. aficials in brussels say meeting last week was one of the most difficult at any time in the past three years. the british team was seemingly trying to bully its way to concessions. the eu is bracing for the expect appointment of boris johnson as prime minister. he threatened to quit the eu in october with or without a deal. iran is warning that it may revive its nuclear program to before 2014. tehran said they may back away. the iranian atomic energy organization so the return to the conditions of for years ago would "create a balance. the you -- the eu says there's time to make a deal. the nuclear deal with iran, i

ditto for asx 200 futures. the kospi will be tested today as we adjust the latest gdp numbers. economy returning to growth. the worst retraction since 2008. there are few signs of relief. we will see earnings later today during an already busy week which has seen mixed numbers from korea. nice unconfirmed reports for a 90% profit plunge. ansie bonds, bets rising on october rate cut setting the 10 year yield to a record level. haidi: let's check in -- paul: let's check in on the first word news. >> north korea has launched projectiles from the eastern part of the peninsula. japan confirmed two missiles were fired. chiefs of staff say they flew for about 430 kilometers. lee launches come weeks after kim jong-un president trump in the demilitarized zone and agreed to restart stalled talks on the north's nuclear program. boris johnson promoted a string of brexit enthusiasts to his first u.k. cabinet, shaking the government to drive the country out of the eu. 19 of theresa may's leaders left the team. johnson will set out his priorities later thursday. he says it is time to take act

i didn't get to go to eton, but one of which is that untitled males should be referred to asx untitledse who are above the rank of gentleman and below the rank of night. so not just gentleman and below the rank of night. so notjust all nontitle males, he is actually wrong, sorry, jacob. but again he gives out this idea that he is organising things, there is a new broom in town... but it is pretend! this is all fake! there are a couple of things in here that you think, actually, that is right. i don't think! that you think, actually, that is right. i don't think i would insist people be called esquire. a lot of our people who read a paper want imperial measurements, so they would love that. michael and susie, thank you very much. have a lovely weekend. that's it for the papers tonight. don't forget you can see the front pages of the papers online on the bbc news website. it's all there for you seven days a week at bbc.co.uk/papers and if you miss the programme any evening you can watch it later on bbc iplayer. thank you, susie and michael. goodbye. hello, the latest from the bbc sport c

to check up the board in on the antiquities, the asx 200, we have an opening lower by a third of 1%,e dollar just holding on to the advanced that was part by inflation. the kiwi dollar is set for a sixth day of losses. more policy divergence between the rbnz and the fed. qe stocks are headed for a second day of losses. haidi: for more to watch on the region -- for more on what to watch in the region, we have mark cranfield. let's start in china, because last batch of the terrace increases now that the trade talks are stalling. see thenk you will markets start to push for a slightly weaker yuan now. one of the interesting things people talked about a lot last year was how the dollar yuan rate eventually rose to close to 6.98 last year. a lot of people assumed that was partly to offset the tariffs imposed on china, so a weaker yuan almost totally there to offset the increase in the cost of china for doing business with the united states. one of the things that just happened this year is the yuan is slightly stronger. the united states have increased tariffs on $200 billion worth of chi

in sydney, the asx 200 may snap a gain. switching the board to check in on bonds that rally in aussie debt -- -- how much upside may be left as we are getting more global economic indicators that are not too hot. today's factory output from singapore on the data agenda this morning, flipping the board to check in on that, that indicator may reinforce bets that they will ease policy in october. the dollar headed for its steepest weekly drop ahead of those numbers. the boj may downgrade its inflation forecast and next week's meeting. paul. for a check of our first jessica summers in new -- new york. jessica: lower interest rates and renewed asset purchases on the agenda. eurozone inflation remains far goal.he bank's the governor of the bank of turkey delivered the country's biggest rate cut in 17 years, shing borrowing cuts. mike pompeo says he would be willing to fly to tehran to explain how the iranian leadership has harmed its own country. the trump administration withdrew from the nuclear deal. the president said he is op

asx 100 is higher here. just about 2% away from a new record high.wi dollars are holding onto gains. extending gains for a second session. paul: let's check in on the first word news with ritika gupta. >> lawmakers have voted to reform the pension system, it may promise major savings and finally establish a minimum retirement age. it still faces legislative hurdles before becoming law. it is seen as a significant achievement, as 4 previous administration have tried and failed to enact major reform. in u.s. justice department is investigating deutsche bank for corruption and anti-money-laundering laws in his work for one mdb. the wall street journal says the investigation is being helped by former goldman sachs executive tim leistner, who pleaded guilty to crimes connected to one mdb last year. deutsche bank says it has cooperated fully. new orleans is facing a double flood threat with the mississippi river it at its highest level in 90 years. floodwaters are approaching from the midwest, which has suffered months of heavy rain. at the same time, a st

abouts pointing south by 0.4% as the asx edges away from that record close. i am paul allen in sydney. shery: i am shery ahn in new york. you are watching daybreak australia. it was a third day of gains for the s&p and the second day in front of congress for fed chair powell. tech stocks led the way higher. su keenan has more on this. it was a day of contradictions. you have a more dovish fed in chair powell, and very strong inflation numbers. they came in much stronger than expected. that put the fed in a tight spot. another late day rally pushing to records at the close. let's look at the snapshot. we saw treasuries retreating after the latest inflation reading. dollars -- impact on bonds. we saw gold slip. we saw the s&p gain for a third day. check out the nasdaq 100, it was lower. if we check out the big movers you will see very big moves. dropping toeyond the lowest in 20 years. zillow down lower, gamestop lower. snap one of the few positives here. amazon in the spotlight. they are spending a half billion dollars to retrain workers. look at the gains in

asx 200 is pretty much flat in syndney. take a look at some movers. fast moving retails.are seeing the stock moving up 2.5% at the moment. we have been talking about a record when it comes to other segments. was beat, these are three-year highs. japan display looks like they have been able to find some bailouts when it comes to this shortfall. the company says backers will cover the bailout shortfall, up 2.5%. fosun tourism, a potential deal when it comes to them buying a travel agency in the u.k.. that is leading the stock to have a little pressure. rishaad: let's have a look at indian markets. this is the prospect with 12 minutes to go. flat afterlso recent gains. 650 yield on the 10 year sub earlier, moving just above the psychologically important level as money has been pouring into sovereign debt in india. i think we will look at one equity market which is on the verge of becoming a bull market. yvonne: we will head to manila to talk about that. duterte'sdent rodrigo term almost through, investors expect a bump in the second half of his reign. a bit of a history less

seeing the likes of asx 200 up 6/10 of 1%. we are getting close to the 1% high with sydney stocks. look at the dollar. interesting to know what we have seen when it comes to the thai baht, continuing its strength. we heard from the blt. -- bot. thailand officials are worried about the strength. it will be worries some whether it will continue on the reluctance to ease a little bit more. the central banks seem to be tilting more. thai baht is strengthening a fifth of 1%. remedy is looking strong -- renminbis is looking stronger after we heard from president trump on twitter accusing china, as well as europe, as currency manipulators. our guests saying it will take a lot for the u.s. to intervene. let's see what we are seeing when it comes to commodities. this is pulling back. aluminum is seeing a bid. bonds as well. this relentless bond rally as we still see the treasury market, u.s. tenure back below 2%. we are watching hong kong dollar closely. we are getting closer to 1450 when it comes to your gold futures. the hong kong dollar as well. we have been talking about the strengths g

we saw a record highs on the asx on tuesday. futures pointing a little lower by 4/10 of 1% today.n, second quarter cpi numbers for australia as well. i'm paul allen. shery: i'm shery ahn in new york where it is 6:30 p.m. let's get the first word news. ritika: thanks. u.s.-china trade talks back underway after a two-month hiatus. officials dining in shanghai ahead of formal discussions. they met as president trump again last out at china saying they don't live up to their word he posted an angry tweet saying there has been a promise to buy more u.s. farm products but no apparent progress. he ended by writing they just don't come through. the u.s. is urging japan and south korea to resolve its trait differences amid fears the staff could spiral out of control. the white house is calling for an agreement to give tokyo time to negotiate a wider deal. the comments has weeks of comparable silence from washington where japan and korea look to bring the u.s. capital one financial slumped in u.s. trade after revealing personal data on its service from about 100 million people in the u.s. w

yvonne: and record highs for the asx. pretty close to it.th us, more from thomas schroeder, chart earners founder and md. we will look at india. a lot more ahead. this is bloomberg. ♪ get you a quick's check of the business flash headlines. yft shares hit the skids as the company announced the departure of its chief operating officer. john mcneil leaving after just 18 months. his predecessor also lasted less years.ree before joining, mcneil spent about 2.5 years as deputy to elon musk at tesla. aft says they will not hire replacement and plan to reassign his responsibilities to other staff. yvonne: uber cutting 400 jobs around the world on concern that is in us is -- business is slowing down. it is in the marketing department, losing one third of its staff. the ceo told employees that many seats are too big, creating overlapping work, and leading to the risk of "mediocre work." david: softbank is teaming up with a southeast asian ride-hailer to invest $2 billion in indonesia. announced with the president. says it is looking for further oppor

aussie futures hinting at a slight recovery after the asx 200 lost.he central bank lineup, malaysia looking like a contender but most candidates expect no change at today's decision. paul. the main event, paul: let's get the first word news now. >> thanks. an independent think tank says there is a significant risk the u.s. will breach its debt ceiling in september. the bypass and policy center sees october over november as a likely date due to falling corporate tax revenue. the treasury department has been using so-called extraordinary measures since march 2 when the u.s. hit its $22 trillion limit on borrowing. iran says it is already enriched uranium at levels agreed -- beyond levels agreed in the nuclear deal and may push the process as high as 20%. the enrichment has been confirmed and tehran says it will scale back compliance with the nuclear deal every 60 days unless european powers find ways to offset u.s. sentients. enriched 90% to reach nuclear weapons. signs of recovery as offers a discount. deliveries of sedans, suv's and multipurpose vehic

earlier we said the asx 200 hit a record high. it was not an all-time record high.st since november 2007. well that seems like an intern at some of us, it is not -- an eternity to some of us, it is not. here's a look at what you should be watching. tomorrow, a bank of japan rate decision kicks off a busy few days for the world central banks. u.s. trade representative robert lighthizer and his team meet their chinese counterparts in shanghai. turn of jayt is the powell and the fed with the fomc expected to cut rates for the first time since 2008. the first time in over a decade. thursday season a policy decision from the boe. the bank of england will publish its final set of forecasts before the brexit deadline. friday, watch out for the u.s. jobs report. it's projected to show nonfarm withins rose by 169,000 average earnings forecast to gain 3.1%. peterson from allianz global investors is still with us. the fed,ou expect from first of all? how important is that to u.s. stocks? >> wednesday will be important. it might mark the beginning of an insurance easing cycle i

australia's asx 200 held up well by bht. --saw that surgeon iron ore surge in iron or prices.t could ratchet further due to output supply. india's market looking quite good amongst the earnings season. at some ofave a look the hong kong stocks we're watching, particularly in the retail space. this is on the back of those protests we've seen over the past month or so. bloomberg intelligence suggesting that hong kong retail sales are likely to fall due to the protests keeping the tourists away. we had giordano yesterday issuing that warning, it fell the most, around 11%. you are seeing the likes of look book also falling. the hong kong retail management association says they could see july and august retail sales in the city fall by double digits. certainly one sector to watch. it has been underperforming of late. nejra: thank you so much. jay powell says the central bank is monitoring threats to growth, adding that he will act as appropriate to sustain the expansion. rising,uncertainty is particularly in trade and global growth. hise comments echo testimony to congress, cementi

in australia, up 5% on the asx 200. december 2007 highs, a fourth session of gains.india looking good and ahead of the budget. one thing that is interesting, on my chart, this move coming through in south korean chipmakers. threen see a big move in of the names. this is the past weekend a strong surge. much as 20%en up as on expectations they will benefit from these new japanese restrictions on exports of key materials needed to make semiconductor and computer displays. one analyst we were speaking to saying if tokyo extends the curb to include more materials needed for semiconductors, a lot of south korean suppliers to samsung will benefit. manus: thank you, juliette saly in singapore. the u.s. and chinese officials are said to resume trade talks in coming weeks but larry kudlow says that for now, those discussions will happen over the phone. are lighthizer and mnuchin. they will be on the phone and lots of communication. manus: while there may be optimism over a trade deal, that hasn't stopped president trump and leveling more accusations of currency manipulation a

australia is asx 200 is headed towards all-time highs. --t level since news that november 2007.all.uing to we heard from ubs today. he things iron ore could drop below $100 in the fourth quarter as valley moves to boost output. i want to show you what's been happening with the all he does or -- aussie dollar. bill evans coming through. he's known us -- as the doyenne. you could see a rate cut from the r.b.i. as early as october to point -- 0.75%. look at how the aussie dollar has really tried to break out of this resistance. it has failed four times. we are continuing to see weakness in this aussie doar. you could see a catalyst when we hear from the rba governor philip lowe on thursday. bulls watching to see if we could break out of that resistance level. more weakness coming through on the back of the rba rate cut today. nejra: thank you. set to. and china are resume face-to-face trade talks for the first time since may. sources tell us that robert lighthizer will fly to shanghai on monday. negotiations are scheduled to run through wednesday and are expected to review issues d

stocks are retreating from the record we saw yesterday on the asx 200 and hong kong facing headwinds. it has a bad weather situation there and we had more protests overnight. the hang seng, off 1.1%. becauseok at my chart we are awaiting hong kong gdp and this is expected to slow from the prior quarter the .9% for the second quarter, although it should increase year on year to a reading of 1.5%, up from .6% in the first quarter. tom from bloomberg intelligence is a little worried in his piece on the overall outlook for the hong kong gdp read because we've got protests happening, slowing toryism, all these factors that weigh into hong kong economy including in the finance and property market for you are seeing a sluggish read. chief executive terry lamb saying there is no optimism for the gdp read ahead of later afternoon. juliette saly in singapore with a look at your asian markets. is expectedreserve to cut interest rates by 25 basis points at today's meeting. that would be the first cut since 2008. robert burgess says expectations aren't for a one and then move. the markets are expe

moving now to be asx. the ceo saying, currently low visibility and poor predictability.t has been a challenging time. bloomberg intelligence says it hopes for a second half rebound. is to gaugelenges the depth and timing of a drop in earnings. on data on cross controls is the we could be looking for when we dig into the details. it is confirming its outlook as reside -- rhythm -- revised on july 8. estimate ofn the 966.3 million. second-quarter sales come in at a beat. 15.1 6 billion euros. sayingrg intelligence akita modeling the bottom will be the second-quarter discussion of the factors that drove a recent guidance cut. lots of earnings. let's get to the full market. we saw the s&p 500 and nasdaq hit records. nasdaq futures taking more of a head. you have facebook gaming in after-hours. tesla plunging. we saw drops in european yields as well. some of the pmi's coming through in germany. let's take a look at the euro. that's trading near an eight week low in terms of euro-dollar volatility. index, treading water for the past couple days. crude up 3/10 of 1%. much get a

stocks are down and speaking of the other equity markets -- the asx 200, u.s.utheast asia also seeing declines, i will leave you guys with this -- several massive moves here in hong kong. we know why one stock is moving. >> reports that the chairwoman has been detained in china, that stock is falling off a cliff. we are really not sure -- we are still scratching our heads in getting the teams together but we are down almost 85% for the company. this is a company that manufactures scooters -- 55% lower today, massive selloff. >> we don't know why. lots more coming up on the show. keep it here. this is bloomberg. ♪ ♪ you are back with bloomberg markets. let's have a look at the latest business flash headlines. broadcom is said to secure financing and identify cost symantec, and all-cash deal that could value the cybersecurity firm at $22 billion. it is one of several commitments from several banks, with synergy potential at $1.5 billion. sources a deal could be reached this month although talks are still continuing. barry gold is working with advisors with the go

the asx up 4/10 of 1%. the kospi is flat and south korea. it looks like a quiet end of the week.e in hong kong. sophie: not looking quiet when it comes to tokyo. losses rising 4.5% after first quarter earnings beat estimates as food sales climbed at convenience stores. downside, electric sliding this morning by as much as 5.2% amid estimates. orders tumbled 17% year on year as the company faced difficult conditions as orders from china fell 22% on a yearly basis. fast retailing is leading this morning. weakness in japan overshadowing a strong showing in overseas markets, particularly china. the cfo saying they expect sales to be hurt from cuts from south korea. shery: let's talk about the spat between south korea and japan. officials from the two countries are especially -- expected to hold talks friday. tensions have not been this bad in decades. there seems to be no easy way out. japanpan governor -- reporter joins us. is adamant that restrictions are nonnegotiable. so what can we expect from these discussions? what japanexactly has made very clear. the trade minister last week

important to remember those 15chers for the asx reset minutes before the opens of some of this news mayot be priced in there yet. new zealand has been trading for just over one hour now, still up by .3%. let's check in on the first word news now. signaling more stimulus is on the way amid continuing worry about fuel eurozone -- people -- eurozone -- feeble eurozone inflation. investors and economists predict the ecb will cut interest rates in the coming few weeks. a record low of -0.4%. european union- leaders have failed to agree on the makeup. growing concern about division and gridlock in brussels. 18 hours of talks on sunday and monday produced no agreement on naming a dust socialist as head of the -- dutch socialist as head of the e.u.. he is backed by angela merkel but opposed by the center-right group in the e.u. parliament. iran has breached the terms of the 2015 nuclear deal, exceeding limits and raising the stakes in the standoff in the u.s. the move threatens to undermine any support from european powers who also signed the deal for years ago. they have been trying to find a

switching it up to sydney, checking in on the asset -- asx 200. the biggest gain in a month. oil producers for the rally in crude over the persian gulf. brent gaining ground. paul: thanks very much. let's check in on first word news with tom mackenzie. tom: thank you the chinese and hong kong governments have to announce to the actions of investors who targeted china's main headquarters, as a peaceful mass rally turned violent late sunday evening. police fired tear grass as demonstrators confirmed -- converged. hundreds of thousands of people marched through the city in a sixth straight week of antigovernment rallies. thebritish government wants united nations to intervene in the spot and the gulf. and has threatened iran with what it's -- it calls serious consequences. london is demanding the release of the tanker and is advising u.k. shipping of the increased threat and the strait of hormuz. on sunday, iran showed the tanker import, flying the iranian flag. the u.k. chancellor says he intends to resign on wednesday if boris johnson becomes the next prime minister. johnson i

the asx 200 is also under pressure this morning, but not too far off from a fresh all-time high.ng steady after slipping back below 70 on friday. i'll say 10 year yields are gaining ground, climbing as much as seven basis points. treasuries early in the asia session adding to the advance we saw on friday. gold is sticking below $1400. hedge funds are growing more pessimistic, pushing bearish bets on crew to a five-month hide. traders are assessing the fallout from the turkish president sacking the chief of turkey. tote -- sophie. the conservative new democracy party has won a sweeping victory in greece giving a former banker the mandate to rebuild the economy, after 10 years of crisis. the democracy took off with 40% of the vote, compared with 31% for the other party. he lost support after agreeing to demands for more spending cuts by international creditors. >> i feel i have a strong mandate to deliver on my agenda, an agenda to grow the economy and create more jobs. also to make sure that the greek people feel safe again. house economic advisor says he expects u.s. china trade

looking at the asx 200 this morning. just a little change.ontinuing to nudge lower. two year slipping below 1%. as they rate cuts even signaled a pause and easing. stocks under pressure as well. paul: let's check in on the first word news now. worst opecits meeting in four years with prices tumbling after they agreed to extend production into 2020. russia and other independent nations backed saudi arabia's plan although divisions remain. with shalen came surging and the u.s. close to seeing a net oil exporter. opec now has its lowest market share since 1991. order to help maintain the current state of the market and avoid the buildup of inventories, we have decided to keep the level and magnitude of the cuts intact. airbus and boeing has spread the u.s. to add more eu products to a list of potential tariff targets. washington identified $4 billion of eu goods ranging from cheese to tubes and pipes. $21 billion the u.s. published in april. the u.k. has readied tariffs of its own. ofpeople died and much india's financial capital has ground to a

paul: let's check in on things in this part of the world. .e have the asx running currently higher veryt we do have the staggered open in australia. inare down to about the c's terms of trading. the aussie dollar continuing tease back below $.70. 69.23 and a look at the 10 year yields, firmly in that low yield club right now. let's check in on new zealand. , to the index, higher by .5 of 1%. the currency joining the aussie in weakening against the greenback. let's get the first word news. >> the british parliament have voted to convince the next premised are. the house of commons back to the bill by one vote. the opposition labor party has changed strategy and now backs the second referendum on brexit. its leaders jeremy corbyn said the party would campaign to stay in the eu if a second vote were called. the iranian military is vowing to retaliate against the seizure of a tanker accused of taking oil to syria. iran said the tanker was in international waters and not theed to syria describing capture is piracy. they are keeping an empty coastr close to the saudi rather than risk having i

in sydney, the asx 200 opening to little change. the aussie dollar is slipping.osing ground. kiwi stocks are slightly under pressure this morning. shery: thank you so much for that. treasuries gained after the fed's number two and three officials commented on the need for a rate cut this month. john williams said central-bank should act quickly when there are signs of trouble. the new york fed clarified his comments, saying they were made on the -- on an academic basis. still, the sense of a clear message after the fed vice chairman also mention the danger of waiting too long to cut rates. is brad gibson. right to have you with us. , trying toe sense clarify those comments? has it changed anything? the direction seems to be down. the only question seems to be, by how much? >> that's right. whether they go 25 or 50, we will get short-term volatility in markets as investors rebalance. the longer term trend is for the fed policy rates to head lower. of market has applications an additional 1% over the next 12 months. we would agree with that. if we think about a u.s

the asx bracing for a retreat and korean investors will have concerns to navigate around japan. swindled. the lowest level of the year. likely searching for more clarity. watch for the korean won to face more punishment ahead of the bok policy meeting thursday. governor lee compelled to cut problems facing the export dependent nation. there could be more problems on the one. -- won. this is bloomberg. ♪ we're the slowskys. we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematician on our hands! check it out! now you can schedule a callback or reschedule an appointment, even on nights and weekends. today's xfinity service. simple. easy. awesome. i'd rather not. paul: good morning i paul allen sydney. asia's major markets are about to open. shery: i'm shery ahn. and i'm sophie kamaruddin in hong kong. welcome to daybreak asia. ♪ paul: our top stories this monday. tradeis set to reveal its war wo